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Personalization is key to enhancing the online shopping experience for customers. With the rise of e-commerce, brands that use personalization tools to deliver customized, data-driven experiences can reap the rewards. A study by McKinsey & Company found that 71% of consumers expect personalization from brands, and those that deliver can see a 40% increase in revenue. At Slipstream, we believe that personalization is essential to providing a compelling e-commerce experience, so we’ve compiled five examples of how it can be used effectively:
- Tailored Subscriptions
- Artificial Intelligence (AI) and Machine Learning
- Mobile Experience (M-Commerce)
- Personalized Email Campaigns
- Product Recommendation & Customized Experiences
- The Latest Trends in Personalization for 2023
1. Tailored subscriptions:
Personalizing the subscription process can increase customer lifetime value and encourage the exploration of different options. For example, for a health and beauty online retailer, instead of providing website visitors with ‘similar products’, it’s better to provide them with product recommendations based on their data and purchase habits.
2. Artificial intelligence (AI) and machine learning:
More brands are turning to AI and machine learning to personalize their offerings. For example, Misfits Market, an e-grocer, has created an algorithm that automatically predicts items a customer is likely to order and adds them to their cart.
3. Seamless mobile experience (M-Commerce):
With more customers shopping online using mobile devices, brands must prioritize mobile-friendly designs for a seamless checkout process. Mobile notifications can also increase personalization and app engagement.
4. Personalized email campaigns:
Personalized emails such as abandoned cart reminders or tailored emails based on customer data can be effective in keeping customers engaged. For example, Slipstream worked with Delicious & Fresh, an online frozen food retailing company, to send friendly email reminders for users with abandoned carts, price drops, and offers on frequently visited items.
5. Product recommendation & customized experiences:
Personalized product recommendations can save customers time and improve the shopping experience. Quizzes are a great way to build a detailed customer profile and provide tailored recommendations. By integrating quizzes with email service providers (ESPs) like Klaviyo, brands can follow up with personalized emails based on customer preferences.
In conclusion, personalization is a crucial component of a successful e-commerce strategy. Whether through AI and machine learning, tailored subscriptions, mobile experiences, or personalized email campaigns, it has the power to enhance the customer experience and drive business growth.
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