Ensuring an excellent customer experience can be tricky but an effective guide can help.
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Around 20 years ago, most marketers preferred using demographic data and outbound marketing for delivering a personalized experience to their customers. It was Amazon that introduced the concept of product personalization & recommendation into digital experience in 2010. Nowadays, most brands are chasing cx personalization on a granular scale. According to an EverString report, 69% of companies rated personalization as a top priority in customer experience. Also, 93% of companies using “advanced personalization strategy” experience massive growth in revenue. So, what makes personalization a secret sauce to boost customer experience? Why is cx personalization considered to be critical for business success? Let’s take a look:
In today’s time, delivering an exceptional customer experience is imperative for businesses as their products or services are no longer a competitive differentiator. While 73% of customers prefer doing business with brands that personalize their shopping experience, offering a seamless & bespoke journey to your customers has become more important than ever. By influencing the purchasing decisions of 86% of consumers, personalization plays a pivotal role in driving long-term customer value. As brands with the highest personalization ROI (3x) are 50% more likely to focus on customer loyalty, it brings a positive difference in the ‘company-customer’ dynamics which contributes to business growth. By compelling the customers to act (and asking for more), cx personalization helps you understand their journey, analyze their behavior, and cater to them in the best way possible.
Start by getting a multidimensional view of the customer which helps to serve them better. Always remember it’s important to gather the right and high-quality data rather than collecting extensive data. Conducting customer surveys, tracking social media comments of followers, and using website analytics can be a great way of uncovering customer behavior. Voxco offers omnichannel survey solutions to glean actionable insights into customer journeys.
After the data analysis gets in place, it’s important to segment customers and identify the value triggers to facilitate personalization. As per an Accenture report, 58% of customers are more likely to buy from a site that offers recommendations based on their previous purchases.
Considering factors like location, age, gender, and online shopping preferences, you can easily segment your audience & build a library of content to customize their experience. It lets you set up campaigns that resonate well with the customers and drive value across every touchpoint.
Assemble a cross-functional team (with experts of different verticals) to effectively implement weekly deployment for faster results. With a goal to break down the organizational silos, the team should be staffed with the right talent, culture, as well as capabilities. According to Baymard, approximately 70% of prospects reach the cart stage, only to abandon it later. In such a case, your agile team can convince shoppers to return to their cart by sending them reminder emails. However, they need to make sure that personalization hits every stage of the customer journey.
Enabling the right technology platform forms the core of successful personalization. While implementing an optimized platform may be complex, you can maximize value from your existing technology platforms. Instead of building a multivariable database in the initial step, start small. Follow a test-and-learn approach to check the efficacy of your idea and expand over time.
Adding cx personalization to your marketing strategy can help to gain higher returns while keeping your customers happy. At Voxco, we help you transform every customer touchpoint into a positive experience using personalized, logic-driven surveys. So what are you waiting for? Get ready to make the most from your CX!
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