Customer expectations are evolving almost faster than the technology made to cater to them. Many businesses will get their act together when it comes to their digital onboarding experiences, but what about after? We had some ideas to share on the matter before, but there’s other factors to take into account. Per this report, 52% of consumers are likely to switch brands if a company doesn’t personalize communications to them, and 65% of business buyers are likely to switch brands if a vendor doesn’t personalize communications to their company.
Let’s tackle the first conclusion from this statistic: as much as we talk about consumers and customers as individuals, it’s clear that we see even bigger demands and expectations coming from businesses. With so many companies offering deals and trying to one-up each other by claiming they have “the best” of everything (product, service, customer service, etc.), it’s now a buyer’s market, and everyone is expecting the suitors to show off how they plan on proving that they’re better than the rest. With this, there will be advances in how companies will begin to use the data they gathered from the prospects or customers, and market the whole experience, specifically for them.
How do you make this happen for your own company?
With the endless amounts of data that companies gather from customers, it’s imperative that businesses take that information to analyze it, get insights, and act on educated predictions for customer behavior. The best space to showcase how this is done, is retail. On many websites like Amazon, Etsy, eBay, etc. your searches are analyzed so that the system can gather information on what items you liked, which ones you added to lists or your shopping cart, which ones you spent the most time looking at, etc. This information is all automatically included in a workflow, where the business will then set up automated actions based on your likes and behavior. If you left items in your shopping cart, you will get an e-mail saying, “did you forget something?” or another phrase along those lines. When you haven’t bought something in a while, you might receive an e-mail from a website with some recommended items based on your last interaction and past likes. These tactics are incredibly effective in bringing customers back to the fold, and turning a “no” or a “maybe later” into a yes.
For example, the biggest retail holiday in the year is coming up soon: Black Friday. The success of Black Friday sales has evolved through the years, with companies looking to capitalize on it even more. With the instilment of Cyber Monday (as a way to get rid of any leftover overstock from miscalculations for Black Friday demand) and now with every year having the BFCM sales starting even earlier, retailers and brands alike are scrambling to make the most out of these days of open and willing wallets. From 2018 numbers, it was determined that “abandoned cart” automation workflows were responsible for the highest sales on Black Friday. This goes to show how a specific, personalized communication with a customer can completely turn around what could’ve been a forgotten transaction and make it into a successful sale. We will continue to see a rise in these workflows as companies continue to get creative and use technology even more to achieve their set goals.
As we get ready to turn the page on an entire decade, we need to be prepared for what the customers will be expecting with the last bell announcing the new year. This is a time for re-invention, innovation, transformation, and automation. All of which should now come with the underlying tag of personalization. A few years back, it was impossible to think of how to personalize content for thousands or maybe millions of customers, especially in the time of direct marketing through physical mail and such. Today, with databases, data pixels, social media profiles, and the use of social selling in general as a tool, there’s absolutely no excuse to not cater to your customer knowing exactly what they will want, maybe before they even know they want it. Companies need to be prepared to offer their customers the personalization they demand, or risk losing them altogether.
If you’d like to explore options of how to give your customers the personalized, innovative experience they expect, our team of experts is ready to walk you through the possibilities thanks to automation and other tools you can leverage to make every interaction with your customers feel pleasant and special. Contact us today to find out how we can make this happen for your company.