How Does a Personalized CX Boosts Sales & Revenue? [Infographic]

The one-size-fits-all strategy does not work today especially when emerging technologies can be leveraged to accommodate customizations and personalization. In fact, experts believe that among your Email Marketing strategies, Personalization must have one of the topmost priorities.

If you believed that email was on the path to becoming obsolete, rethink, because, in a marketers quiver, an email is still one of the most potent weapons to target customer acquisition and engagement. Many industry experts believe that after colleague recommendation and industry thought leaders’ assertion, email is the most persuasive source of information for the B2B audiences.

Email marketing, therefore, must be at the top of your marketing to-do list. And to make it effective, you need to personalize it. Let us now look at six ways how email personalization can improve CX and boost sales and revenue:

How Does a Personalized CX Boosts Sales & Revenue?

 

Infographic Content:

I. User Segmentation
• Segmented emails boost:
o Revenue by 760%
o Open Rates by 26%
o And Click-Rates by 59.99%. (Source: Campaign Monitor)
• Customer Segmentation—A top priority among 1000
o Marketing professionals
o Digital professionals
o E-commerce professionals
o Further, 72% of them created segments using customer data.
What you must do?
• Divide your audience into groups, sub-groups, sub-sub-groups, and so on, as deep as you can go.
• Send emails to each customer segment that seems bespoke emails.

II. Dynamic Content
• Brands like Adidas do not recommend baby products to millennials or senior citizens.
• They leverage dynamic content in their email marketing to recommend products based on gender, age groups, etc.
• A female subscriber would never get recommendations for men’s apparel, and vice versa.
• Virgin Holidays used personalization via dynamic content in their email marketing during the uncertain times of the Brexit referendum.
• The result:
o Open rates increased by 70%
o Click-rates by 65%
o Overall, personalization increased its revenue by 49%.
What you must do?
• Use dynamic content in your emails as per the data points collected while user segmentation.
• Draft a single email and customize portions of it based on age, location, gender, preferences, weather, and other parameters.

III. Product Recommendation
• 96% of customers prefer retailers’ help to discover the latest products. (Source: Infosys)
• 76% of customers want businesses to be aware of their requirements
• Out of which 51% of customers believe that companies fail to do so
• While 54% of customers believe companies ONLY seek profits. (Source: Salesforce)
What you must do?
• Based on customers’ past purchases, send recommendations about similar latest products or complementary products.
• People mostly prefer to have a collection of items. Make a list of such collections.
• If a customer has purchased an item that is a part of that collection, send recommendations on other products.
• Make them understand how these new products complement the item already purchased.

IV. Special Offers
• Dynamic Yield study among the North American residents found:
o 62.27% of the people respond positively to an offer they felt was created for them.
o 55% of customers expect to receive targeted discounts and promotions
o While 37% expect offers tailor-made to their preferences.
• Uber utilizes the strategy of personalization based on the frequent trips a customer makes.
• They send these customers personalized offers and discounts upon segmenting them.
• As a frequent flyer, therefore, you will receive offers and discounts on your trip to the airport, making you feel special.
What you must do?
• Target the segmented customers with “Special Offers.”
• Say NO to generic discounts and offers. Adopt Personalization.
• Make the special offer bespoke to be more special.

V. Predictive Analytics
• PetCareRx, an online retailer of products for pets, utilized predictive analytics to determine their customers’ probability of purchasing.
• Accordingly they offered discounts—greater discounts to those with less probability and vice versa.
• The result:
o 2x campaign response rates
o 38% of increase in quarterly sales
o 24% increase in profits.
Gartner says, Predictive Analytics, although difficult, increases the value of your marketing campaign.
What you must do?
• Leverage Predictive Analytics for insights based on patterns noted from customers’ past activities.

VI. Video Content
• Open rate increases by 19%, while the click-through rate by 50% if an email contains video. (Source: Campaign Monitor)
• Video is an engaging way of promoting your brand.
• It surpasses the information that we receive via text or images.
• Video content enhances the human experience and builds trust and reliability.
What you must do?
• Include a video in your email.
• The attention span for video content is much higher than for the text and images.
• And also, it establishes your reputation as a sophisticated and solemn business.

Conclusion: Modern marketers cannot afford to send generic emails or personalized emails only accommodating the feature of saluting the recipient with their first name. Today, you have to dig deeper than — as deep as you can go to understand the customers’ buying experience. The six aforementioned techniques would help you to succeed in your marketing endeavors by accommodating not just personalization, but hyper-personalization to succeed.