Quickly increase your revenue with these 5 key personalisation tips.
October 11, 2023
Quick facts about why personalisation is so critical for increasing revenue:
93% of companies with a personalisation strategy boost revenue
86% of the companies that achieved a higher return on investment said that personalisation activities accounted for 21% or more of their marketing budgets
77% of businesses that exceeded their revenue goals have a documented personalisation strategy
Here are a few examples of how you can quickly increase your revenue by leveraging the power of personalisation.
The amount of information available on your customer base is enormous. You know their age, gender, location, average spend, preferred purchasing avenues, social media accounts and a whole scope of further in-depth data. So much so, it can be easy to let this overwhelm you, but it's time to make this data maximise generating you more revenue.
Seeing a trend in your key demographics or on social? Display your ads and banners on your website to stop those thumbs scrolling past your store. Noticing that a certain combination of products is being added to similar baskets? Create bundles to help your browsers have a more streamlined shopping experience. Noticing a particular uptick for a dedicated audience? Generate ads, web content and other personalised touch points only they can see, maximising the opportunity of positive converting interactions
Data has been at the forefront of store runners' minds for a long time, it's how you can make this data work smarter for you in order to showcase your products and brand in the most converting way.
Empower your loyal customers
Did you know that repeat customers of spend an average of double to the amount compared to new customers? A key strategy in increasing your revenue is to personalise the journey and maximise the loyalty of your customers. You've paid enough in ads to attract them, so let them work for you.
Deliver personalised experiences through tailored web content and personalised email campaigns specifically targeting your previous customers (the more specific, the better). A great example could be for a clothing brand, where they've purchased several items but can 'complete the look' for a popular trend. It's even better when they can be rewarded with a potential discount, or highlighted loyalty by early access to new products.
Rewarding loyalty through a personalised approach is ideal, as you also already have the first party data associated with their initial purchases - the more they shop with you, the greater the personalised connections you can create!
Highlight your top sellers
An effective way to convert your browsers to buyers is for the softer sales approach. Showcasing your best-selling products for each category (whether in your product listing page, as part of your recommended products in marketing or purely on site) helps your customers find what they want, faster. It's not an obvious sell.
You're highlighting products that already have a high chance of conversion and your customers are being educated and able to make a more informed decision. This simplifies the whole shopping experience and guides your browsers into buyers through higher converting experiences. Happy customer, happy retailer - it's a win-win!
Work your emails harder
Email are still the quickest form of transactional communication you can have with your customers. After that initial purchase, you have key opportunities to continue customer satisfaction, as well as key loyalty options.
Update on delivery? Add in additional product recommendations as they'll be excited to receive their purchase. A customer has returned and shopped again? Thank them with the opportunity to open a loyalty scheme with you, or special discount offerings to them and their network.
A friendly, personalised approach at the point of purchase and email will create those nudges you need to improve the overall customer engagement, but also the increased propensity to convert as you're enhancing your shoppers' interactions, not interrupting their day or cluttering up their inboxes.
Create the ultimate shopping experience
For the most part, shopping should be an enjoyable experience. Your browsers are shopping to be entertained, educated and excited about buying your products. Make sure you create the ultimate shopping experience for them so they have fun and, almost more importantly, spend more money on your store.
There are so many options for 'out of the box' store creators, it's often not easy to understand where to go next. The faster your site, the greater the chances of your search engine optimisation (SEO) strategies, paid keyword results and page rankings increase exponentially, highlighting your store to more new potential browsers.
You might want to customise the shopping experience, of which your standard templates won't allow you to. Creating a unique shopping site is a great way to stand out from the crowd and competitors, often leading to greater loyalty through brand recognition and satisfaction.
Smart search, so that browsers are having the easiest, streamlined and entertaining purchasing journey they could possibly have.
Having a site that loads quickly (especially on mobile), smart search, intelligent recommendations and buddling options and smooth navigation can be some of the key opportunities when a browser becomes a buyer.
So there you have it. Sounds so simple when written down.
- Smarter segmentation
- Empower your customer loyalty
- Highlight your top sellers
- Make your email strategy work harder for you
- Create the ultimate online shopping experience through your site
Here at MOOT, we know exactly how important it is to focus on these areas, and the frustrations that can be felt by ecommerce brands owners that had outgrown their existing solution, which was restricting their ability to scale.
Through a lack of modern advanced alternatives on the market, the decision was made to build an advanced ecommerce platform that would enable the growth of fast growing brands on the next stage of their journey.
MOOT is already in a short space of time powering some of the UK and Europes fastest growing D2C brands, with all the tools they need to internationalise, run multiple stores, across multiple channels with ease. Recent advancements in the platforms AI capabilities are now driving optimisations the industry has never seen before.
We'd love to talk more with you about how we can help you achieve and exceed your revenue and growth targets.
For more information or to connect with one of our experts, CONTACT US.