When reaching out to potential and existing customers, you already know that some level of personalization goes a long way to attracting attention and engaging your audience. Data gathered on-site has the capacity to deliver information to brands like customers' geography or age, allowing marketers to target communications toward particular demographics – but that simplistic start to personalization will only get you so far. The bigger and better goal is to get a true personal scope of your customer.
Though there are many approaches to reaching customers and anticipating their wants and needs, the truth is that any customer-facing strategy that attempts to convert without a conversation is falling short in the long-term.
In the sixth annual Econsultancy Conversion Rate Optimization Report, in association with RedEye, 50% of marketers admitted that their personalization strategies were "standalone," meaning they relied on on-site data to target content or offers. On the other hand, using opt-in strategies, even more personalized marketing can be an optimal way to engage consumers. By laying out clear guidelines regarding how the information will be used and stored, collecting customer preferences becomes a safe and engaging way for shoppers to identify themselves.
When you can shift an outlook from simplistic and flat data to a rich and dynamic array of data provided by consumers themselves, you’re truly optimizing conversion opportunities by enhancing your communications.
Preference management – the active collection, maintenance and distribution of unique consumer characteristics, such as product interest, communication channel preference and frequency of communication, allows marketers to get a full spectrum of the customer. Opting in with self-reported data on preferences allows consumers to give you a fuller view that's anything but standalone. Even if you start your marketing program with an entry point as simple as opt-downs as opposed to the atomic opt-out, you shift the black-and-white, yes-or-no to a moment of engagement. And that initial personalization has the potential to leapfrog the standalone siloed data like geography, referrals, search queries and device type. Those data points are good, but not great.
Utilizing preference management allows you to build personalized experiences for consumers that promote consistent service, lifetime loyalty, and repeated opportunities for conversion.
Are you still using segmentation strategies to personalize your marketing? Consider whether your single-faceted data is providing the whole picture of your customers. The sooner you can begin a customer engagement journey, the sooner you’ll go from being in good standing to being in great standing.
Eric V. Holtzclaw is Chief Strategist of PossibleNOW. He's a researcher, writer, serial entrepreneur and challenger-of-conventional wisdom. His book with Wiley Publishing on consumer behavior - Laddering: Unlocking the Potential of Consumer Behavior - hit bookstores last summer. Eric helps strategically guide companies with the implementation of enterprise-wide preference management solutions.
Labels: consumer data, customer engagement journey, customer personalization, customer preferences, Econsultancy Conversion Rate Optimization Report, opt-in, preference management, RedEye