Personalised E-commerce: Where is it Heading?
What are the main challenges and trends of personalised e-commerce in the present day?
Keeping it personal – how is e-commerce becoming personalised?
Studies have shown time and time again that personalising e-commerce strategy is an excellent way to increase conversion rates and build up a loyal customer base. And yet, very few companies are dedicating a substantial portion of their resources to personalisation. Simply putting your customer’s first name at the top of a generic email will not quite cut the mustard in the current climate. Customers want – and have come to expect – more in terms of personalised e-commerce content. So, it is safe to assume that more and more companies will start to personalise their e-commerce strategies in the future. But what is defining personalisation trends at the moment? Below, we explain what various companies have been shaping the personalisation revolution.
CX and CX technology
CX stands for customer experience. And, one key trend is that companies that have a dedicated CX plan and devote substantial resources specifically to researching, developing and implementing a personalised customer experience, will do better than companies that do not. These companies are aided by a significant trend: this is the improvement in CX technology over recent years. For instance, algorithms can determine what an individual customer is most interested in on the internet, and this can enable you to tailor their customer experience for them.
What is the main challenge for personalisation?
One of the key challenges is a financial one. As mentioned above, it is not enough for companies simply to create a general marketing plan and then to add elements of personalisation on to it (for instance, addressing customers by their first names in emails). Rather, successful marketing plans in the future will need to be personalised through and through. And, that means investing in specialised personalisation CX technology that due to the latest technological developments are only now recently available. These platforms are lifting the financial barriers previously preventing companies from focusing on personalisation to drive conversion. A fixed fee model based on data and automation is providing a cost efficient way to more conversions through personalisation