Any business can provide good-quality products, but only the best can treat their customers right. And those who can do the latter often are a cut above the rest. Nowadays, consumers are looking for more than just goods that offer value for their money. They want brands they are able to relate to, from their packaging to their philosophies. They also want businesses that know and respond to their needs, offer them a variety of options, and most of all, treat them how they want to be treated.
In short, they want personalized customer experience.
Personalizing customer experience has been proven to provide many benefits for businesses. About 96 percent of marketers utilize personalization to foster relationships with customers, Eighty-eight percent reported 10 to 30 percent lift in business results. One cannot deny the effectiveness of personalization not only in increasing sales but also in customer retention. With that said, how can businesses offer a more personalized buying experience to their customers? Here are three ways.
Gather Customer Data
To personalize service, one must first know the customer. That’s why it’s important to gather as much data as possible about them. How? Encourage customers to create profiles on your platform. When they create their profiles, they will fill out basic information about themselves, which you can use to personalize their shopping experience.
Customer profiles will also enable you to store their buying history and understand their purchasing behavior. Using that data, you can determine their needs and provide more relevant recommendations, which is what the next step is all about.
Recommend Related Products
When you shop online, more often than not, you’ll see a list of recommended items along with the product you want to buy on the page you clicked. It’s called in-store or on-site recommendations. On-site recommendations use customer behavior to suggest products they may like and want to buy. But do they work?
Yes, they do. According to a MyBuys study, which analyzed data from over 100 top online retailers, customers are 915 percent more likely to buy a product in the on-site recommendations than any other item in the store. To prove the fact that recommendations work, reports show that nearly 35 percent of Amazon’s revenue was generated its on-site recommendations. A recommendation engine offers more personalized product options for customers and drives more sales to your business.
Listen to Customer Feedback
A business is nothing without its customers. After all, the needs and wants of consumers are the foundation of every business. If a company wants to retain old customers and gain new ones, it should never stop listening to what shoppers need and desire. About 68 percent of customers stop patronizing a brand or company because they believe the business doesn’t care about them. Retaining customers isn’t only about having products, technology, or marketing superior to those of your competitors.
Even if you don’t have all three, you can still gain your customer loyalty by demonstrating that care for your customers. You start by conducting interviews and surveys to gather customer feedback and implementing sound suggestions that will help improve service and buying experience. Most important of all, commit to valuing your customers and be consistent about collecting and listening to their feedback no matter how successful your business is.
The Importance of Personalization
Personalization enables businesses to build closer relationships with their customers, understand their needs, and give them what they want. On the customers’ end, a personalized buying experience makes shopping more convenient and enjoyable, which, in a way, demonstrates how the business values them.
As companies and businesses are founded for consumers, it’s only natural to provide customers with products that are worth their money and, most importantly, service that deserves their loyalty.