As the customer experience continues to play a key role in standing out, gaining more customers and increasing revenue, ecommerce hyper-personalisation has much to offer online retailers. Hyper-personalisation in marketing has a huge impact on user engagement, conversions, brand loyalty and advocacy – improving the customer experience all around.
So, how can you incorporate hyper-personalisation within your ecommerce marketing strategies?
In this guide, we discuss what ecommerce hyper-personalisation is as well as the benefits of the process. You’ll also find out how to make hyper-personalisation work for your online store and how to use behavioural targeting and dynamic content to enhance your hyper-personalised campaigns.
What is ecommerce hyper-personalisation?
Ecommerce hyper-personalisation is a marketing strategy that targets products to potential customers based on the data that you have collected about their digital presence.
The kind of information that you collect determines the level of hyper-personalisation you use. (Unique to the individual). Although it has gained significant traction in the last couple of years, it’s not a new concept. Personalisation techniques have been traced back to the 1870s when the first personalised emails were sent out to businesses.
Modern hyper-personalisation, on the other hand, consists of many different layers, such as:
- AI machine learning of what products viewers are interested in
- Hyper-personalising the product selection content of a message
- Hyper-personalising the timing of the email to the individual
In effect, ecommerce hyper-personalisation is the practice of delivering the right message at the right time and in the right place. There is, however, a significant distinction between the top 30 vendors, which is useful to appreciate when choosing this most lucrative source of additional revenue.
With real-time accessibility of data, ecommerce marketers can use information that directly targets the recipient as a single individual – increasing the likelihood of conversions.
In general, hyper-personalised marketing is often seen as the key to success in the digital world.
Any successful ecommerce hyper-personalisation strategy must add value for the customer, after all, that is why hyper-personalisation is the future of ecommerce
So, how do you determine what’s valuable?
McKinsey suggests using the following formula:
Value*=[Relevance + Timeliness / Loss of privacy] Trust
What are the benefits of hyper-personalisation?
Drives revenue
From looking at eConsultancy’s Conversion Rate Optimisation Report, 93 % of companies have seen an increase in conversion rates when using hyper-personalised marketing strategies.
Moreover, the Salesforce State of Marketing Research shows that 77 % of companies that delivered hyper-personalisation experienced revenue growth the following year. This figure stands at 93% for those who used an advanced hyper-personalisation strategy.
Improved customer experience
eCommerce personalisation enables retail companies to adapt the customer experience to the specific needs of an individual – listening to their needs, wants, emotions and personalities.
A recent survey by Cloud IQ has found that 64% of respondents expect an individualised experience, while over 80% think such an experience is important.
Customers seek relevant and hyper-personalised offers, to be listened to and remembered.
Increased brand loyalty
A business that dedicates time and resources to implement a successful hyper-personalised marketing strategy will benefit from brand loyalty, customer satisfaction and repeat purchasing.
44 % of customers say that they will likely become repeat shoppers after a positive hyper-personalised shopping experience with a company.
On top of this, the same research found that 32 % of customers who experience hyper-personalisation will leave a positive online review and 39% will tell friends or family.
Hyper personalisation drives your sales and revenue
If one thing’s for certain, it’s that hyper-personalisation marketing helps to fuel business growth.
By showing relevant and engaging email product content with a personal touch, online retailers can quickly increase their sales and revenue, all while improving the customer experience. those that don’t adopt it leave the door wide open to their competitors.
