We’re really excited to share a new eBook with you this week, written in conjunction with RIS News: Stop Wasting Your Marketing Dollars! How one-to-one Personalization of Incentives Can Deliver Measurable, Profitable Results
This eBook gives you an inside look at how retailers can optimize their marketing spend and drive valuable new customer behaviors by providing a highly personalized approach to promotions and incentives.
“Personalization” is a common buzzword these days (along with mobile, omni-channel and the much overused “big data” – all of which play parts in this story). Most retailers have recognized the value in building highly personalized experiences based on customers’ behaviors, interests, preferences and data. The wealth of customer data available to companies today allows them to deliver personalized content, offers, interactions and recommendations, across every channel – all while putting customers front and center.
Despite that focus, one area of the customer experience that remains widely untapped is personalized promotions. Most retailers rely on either mass promos (50% off everything on the site! I’m looking at you gap.com), or, at best, a segmented approach, to incent their customers to convert, or spend more, or buy more often. But even with segmented programs, a portion of marketing spend is wasted and ROI isn’t always measurable. The marketer doesn’t know if they are incenting someone who may have bought regardless, or whether just a little more incentive may have tipped the scale into making that big purchase.
Enter personalized incentives; the right amount of incentive, the right type of incentive, in the right channel, individualized, in real-time, for each and every customer. Driving net new customer behaviors, leading to higher conversions, average order value and retention, and delivering profitability by spending just the right amount on the customers who need it.
How is this all possible? We tell you how in the eBook.
And, as we move into the holiday season, keep your eye out for different promotions that will inevitably cross your screen or be delivered to your inbox. Are they personalized just for you? Or are those hapless marketers wasting their marking dollars?