Maximise Your eCommerce Profits with Strategic Personalisation
Personalization is key to increasing revenue and customer satisfaction in the competitive world of eCommerce. Online shoppers expect personalized experiences and are willing to share their data for it.
Importance of Personalization in eCommerce Marketing
A study shows that online retailers experienced a 19% sales growth after implementing personalization tactics. However, 75% of marketers fail to successfully implement personalization into their business model.
Increasing Critical eCommerce Metrics Through Personalization
Decrease Bounce Rate Through Personalized Product Recommendations Bounce rate is directly related to revenue. Reduce bounce rate by providing users with accurate information or products they're looking for.
Keep an Eye on Average Order Value (AOV) Personalization can positively impact AOV through:
- Personalized product recommendations
- Minimum order amount with a discount
- Loyalty programs
- Product bundles with discounted prices
- Recommending products based on user search history
Koi's smart AI features can help you personalise your communications with your customers.
- Increase Conversion Rate Through Segmentation and Personalized Outreach Low conversion rates indicate poor user experience. Provide users with personalized experiences through:
- Limited offers creating scarcity
- Engaging with targeted customers through social channels
- Free or branded shipping
- Customer product feedback
- Personalized product recommendations through email
Responsive customer support through live chat
Reduce Shopping Cart Abandonment Rate Through Creating Urgency Shopping cart abandonment indicates lost opportunities.
Reduce abandonment rates by:
Following up when someone abandons their cart
Ensuring users aren't surprised by hidden costs (shipping or taxes)
Implementing a wish list
Creating limited offers to increase urgency
Designing an intuitive checkout process
Increase Your Revenue Through Personalization
Personalization is crucial in eCommerce. Learn about customer behavior, get to know your users, and provide them with personalized shopping experiences to increase revenue and satisfaction.