Uncovering Opportunities to Create Personalized Experiences in Retail
Retailers have been busy making investments to meet current personalization challenges. Over the last five years, an explosion of new technologies promising to deliver on the vision of omnichannel personalization has come to market. These days, the only opportunity to expand in retail is through holistic personalization.
Retailers struggling to compete with larger rivals such as Amazon would do well to follow the e-commerce giant’s lead by investing in digital personalization technologies and strategies. While website personalization represents a growing and important opportunity for most e-commerce organizations, email remains under-resourced in the area of personalization and warrants a close examination of senior digital marketing leadership.
68% of all retailers agree that investment in driving personalized experiences is a priority. The key to meeting such a goal is to study what customers like and are most likely to purchase and then present it to them in the right way and through the right channels.
A December 2016 Ascend2 survey identified websites as the “most effective” marketing channel to include in a digital marketing growth plan, with 63% of survey respondents specifying this channel among a list of possible responses.
The second-most cited channel was email, with 52% of respondents indicating the email is the “most effective channel” to include in a growth plan.
Email is the most effective form of personalization because:
#1 It is easy to send and costs little to deploy
#2 It is one of the oldest of all online marketing channels and presents large untapped opportunities for growth
#3 It presents a vast pool of prospects from which companies can pull from
A solid return on investment in email marketing along with new industry innovations can lead to better-personalized experiences built in real time to boost email program performance and enhance shopping experiences for buyers.
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