Giving More Leads to Valuable Consumer Data
Online shopping is projected to be $226 billion this year — a number that represents seven percent of the total of all retail sales. As online shopping has increased, so has personalization: the capture of personal data. And with it, concerns over data privacy.
Privacy has long been an issue online. But consumers are increasingly willing to trade personal information in exchange for more personalized recommendations and customer service.
In a recent study of consumers, it was found that 85% said they realized that data tracking made it possible for retailers to present them with relevant and targeted content. Most notably, almost half (49%) of those surveyed said they’re receptive to a brand that they trusted track their data in return for a personalized shopping experience such as providing relevant recommendations, targeted offers, and information on future product availability.
And when asked to choose between personalized shopping experiences based on their past consumer behavior, or non-personalized experiences in exchange for having retailers not track their data, 64% of those surveyed said they’d prefer the personalized experience. The same number said they would be willing to have known brands send them text messages to provide personalized offers based on previous purchase history while shopping at a brick and mortar store.
What does this mean for the retailer? Retailers that collect and correctly use personalized content in retail and mobile marketing are more likely to see some real benefits:
* Personalized data and customer service flatters the customer and make them feel special. Flattering your customers by remembering the customers’ name, behavior, preferences, and information; they feel good about the shopping experience. And when customers feel good, they feel like buying.
* Collecting personal data, allows retailers to offer relevant additional products, services, or content offerings based on the personal data they have.
* Tailoring your message to the recipient has more resonance because it actually means something. Your messages are much more likely to get attention and spur action when you personalize the topic, timing, and content.
* Personalization also makes the conversion easier for the customer. It’s a marketing truism that the more steps you require the customer to take, the more chances you have of losing them. Regardless of your ultimate goal, people are always more likely to act when the action is fast and easy and personal.
* Improves lead nurturing in general. When you can personalize content to each person’s interests and behavior, your marketing will make a stronger connection and convert more leads into marketing and sales action. The information you use to personalize content all comes from somewhere in your database that your sales team can also use to personalize their sales calls.
Personalization can differentiate your company as the one that cares enough to listen to customers and deliver the information they want; all while increasing your revenue and close rates, enhancing prospecting results, creating new cross-sell and up-sell opportunities, and increasing customer retention.
But remember that in most cases, less is more when it comes to personalization. You need to engage your customers with information they want. If you do, they are more likely to purchase from you. Bombarding them with unwanted, irrelevant information will soon turn them off and they’ll look elsewhere.