How many emails have you seen that seem identical to all the others? A company is either advertising a new product or service while addressing it toward a “Valued Customer.” As you’re aware, being called a valued customer is not that personable. This often leads to people either not opening the email, or ignoring any links inside. So, how can your business benefit from using a more personalized marketing strategy? Let’s talk about it!
A personalized marketing strategy can help you develop a stronger relationship with your loyal customers, who are the real assets of your business. According to studies, personalized emails receive 29% more responses than traditional emails and a 41% click-through rate. What does this mean for your business? More engagement and increased sales!
This strategy has been an emerging trend since 2017. It is an inexpensive way to share updates, deals, and/or information on your product or service that is relevant to a unique individual at the right time.
What Is Personalized Marketing?
Personalized marketing is a marketing strategy used in blogs, social media, and emails to generate sales. It is about using the right data to develop and deliver a more personalized experience to your buyers. The goal is to engage them with personable, relevant communication about your product or service.
How Does Personalization Improve your Marketing?
Let us discuss some examples to help you understand the power of personalization!
Target A Specific Audience
After collecting data from studies, surveys, and list segments, you can run a robust campaign using information about their buying habits and interests. For example, if your target market is interested in movies, you can use pop culture references about films in blog posts and email campaigns to maximize the conversion rate. This is a simple way to target a specific audience or buyer persona.
Create Good Content
Content is extremely important as it shows relevant information to your customers. Choose words wisely before sending an email to your audience. Unique and high-quality content can be a significant determining factor in your marketing strategy.
In 2014, Coca-Cola implemented a personalized marketing strategy that involved having prints of people’s names on their bottles to attract them to their products. This campaign was very successful, as they experienced a major spike in sales compared to the previous four years. Students at universities and colleges were the biggest customers. The excitement of seeing their name on a Coke bottle enticed them to buy Coca-Cola branded bottle instead of Pepsi or other soft drinks.
Remember how you felt when you found a coke bottle with your name on it? It felt pretty nice, and you probably showed it off to your friends and family, which led to them also buying a bottle with their name on it. A simple marketing strategy can provide a considerable boost to sales.
Build a Strong Relationship with Your Customers
Customers are an important asset to any organization, and personalization can help you build long-term relationships with them. Show how grateful you are by sending them a thank you email on their new purchase and informing them about new offers and discounts. You can also send them a birthday email with a unique and exclusive offer inside. These tactics not only generate sales but also increase customer loyalty.
Knowing about your customer’s buying habits is an important factor in your personalized strategy. eBay and Amazon use this strategy by recommending products to their customers based on their buying and search history. Also, they occasionally send emails and messages to recommend a specific product to relevant buyers.
Amazon uses this recommendation strategy purposefully and shows you the best and most relevant products according to your preferences. This helps make your buying experience much smoother.
Boost Conversions and Sales
Personalized marketing is more than just connecting to your target audience. It is also a way to generate sales and take care of your customers. Sending a recommendation email will encourage your customers to buy the product or service. However, do not send too many emails as some of them will find your strategy to be spammy and might flag your emails as a result. You do not want your emails to end up in their junk or spam folder.
A good example of a company using a personalized marketing strategy to boost sales is a rental company called Twiddy. Twiddy used this strategy to get a positive return on investment. They began looking at how their rental volume and demand changed from week to week. From there, they were able to offer pricing recommendations to potential buyers who displayed an interest in those properties on certain days. This helped boost their sales but also to delight their customers.
How to Implement a Personalized Marketing Strategy?
Implementation is not an easy task. Simply addressing your customers by their name is not enough to help you stand out in your marketing efforts. Research is the first step before you do any sort of marketing. Invest some time generating ideas and gathering the necessary information to develop your personalized marketing strategy before implementing it.
Gather and Analyze Data
With just a few lines of code on your website, you will be able to capture data such as purchase history, shopping carts, time on site, clicks, and many more. This data will help you better understand your current clients and target audience. One way to create a complete picture is by creating buyer personas. Want more information on how to collect the right data? Visit here!
You can use the data you have gathered to develop a more tailored experience by providing them with relevant information about your products. Running a few tests on specific customers can help gauge performance on your new personalized strategy and see if you need to make any tweaks.
Once you have developed a plan for your clients, implement it. Pay attention to the needs and interests of your customers while running your campaign, as that information can help in improving your strategy in the future. As long as you have analyzed the right data and spent the time getting to know your clients’ habits and needs, your new personalized strategy should yield positive results.
Use a Personalized Marketing Strategy
Creating more personalized and tailored content for your customers is a great way to ensure brand loyalty and generate higher conversion rates. Put yourself in their shoes to understand their habits and interests to deliver a more personal experience to them. Invest some time developing a personalized strategy and reap the benefits!