Ecommerce Personalization Software by Perzonalization
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E-commerce personalization software aims to tailor shopping experiences by providing product recommendations and offers based on individual user behavior, significantly impacting sales and marketing ROI. Despite struggling with implementation and data challenges, companies recognize that personalization can drive revenue and increase customer loyalty. As the market becomes more competitive, effective personalization strategies are seen as essential for attracting and retaining customers.
Ecommerce Personalization Software by Perzonalization
- 2. DEFINITION E-COMMERCE PERSONALIZATION SOFTWARE IS A TOOL THAT IS DEVELOPED EXPLICITLY TO PERSONALIZE E-COMMERCE WEBSITES
- 3. EVOLUTION The first example of E-Commerce personalization was brought to life at Amazon.com in mid 1990s and is said to account for 30% of the store’s current annual revenue. Ever since, executives of the E-Commerce websites have been trying to find a way to personalize the shopping experience for their customers.
- 4. TODAY Today – as shared by Association of National Advertisers – 83% of all organizations believe that relevant and personal experience will differentiate their organizations. Still, many companies are struggling with personalization as implementation and data related challenges exist.
- 5. We may think of sales representatives as key players in- store. Whenever a potential customer walks into the store, the smart sales rep profile the customer in real time and try to help him/her to secure conversion to sales. An E-Commerce personalization software is replacing the role of the smart rep by related product recommendations, offers tailored to the end user, cross sell or up sell recommendations. THESALESREPEMPATHY IS KEY
- 6. THEOBJECTIVES The objective trying to be achieved with a personalization software is to increase certain metrics of the E-Commerce websites such as revenue, conversion rate, loyalty and average order value.
- 7. Most of the E-Commerce companies have been struggling to find their ways to success in an environment where there is fierce competition, low margins and low customer loyalty while experiencing ever-increasing customer acquisition costs. THEPAIN
- 8. Thousands of dollars have been swept into the digital advertising ‘bin’ but still the conversion rate in E-Commerce is slightly above 3% meaning that only 3% of the visitors end up making a purchase. THEHARDTRUTH
- 9. An E-Commerce personalization software comes on to the stage exactly at this point as personalization can deliver five to eight times the ROI on marketing spend, and can lift sales by 10% or more. A personalization tool is more or less mirroring the sales rep’s physical retail activities on an online shopping environment with smart engines and super use of big data. THEAHA!
- 10. THE ART The fundamental component of personalization is the personalized product recommendations. Not all product recommendations are ‘personal’ in the sense that the personalization software considers individual shopping behavior. Some product recommendations only focus on the relationships between products to products removing the ‘personal taste factor’ from the equation.
- 11. In order to meet the needs of today’s customer, ignoring the taste factor may not be a wise decision; instead as much personal data as possible should be reviewed to personalize the experience for that individual. THE TASTES A good personalization tool – in theory – should be able to capture real-time visitor behavior happening on several channels ie. web, mobile and e-mails. It should not only be able to track clickstream behavior but also should be able to analyze and respond to customer needs in real-time. THEREALTIME DATA
- 12. On site product recommendations can as well be empowered via on site search, personalized banners&content, landing page personalization, product recommendations on e-mails, personalized marketing automation, call center messages, digital ads, mobile ecommerce site and app, social media and A/B testing. THE OMNI-CHANNEL
- 13. THEINDUSTRYNEED According to research from a CMO Council survey of 276 marketers in 2015, there’s a new focus on finding high-performance marketing partners with specialized knowledge and business acumen. The respondents state that they have a hard time analyzing data to create personalized experiences (just 29 percent say they are doing this well or very well). With data gathering and prediction capabilities coupled with high performing + high ROI algorithms, personalization software vendors are the top of the list companies to work with when high performance marketing technology solutions are being explored.
- 14. EASY INTEGRATION ABILITY TO ADOPT TO TRENDS +10X ROI MEASURABLE RESULTS INTERNAL TEAM BUY-IN NO DATA PRIVACY CONCERNS THEVENDORSELECTION
- 16. THANK YOU! Looking for interesting content on e-commerce and personalization? perzonalization.com/resources @perzonalization