Personalization is increasingly important to merchants seeking to engage shoppers, according to a new report, “The Clear Path to Personalization.” The report is based on a survey of 200 retail marketing executives conducted by Forbes Insights and Arm Treasure Data. 40% of respondents said that adding personalized elements on their websites and adopting personalized marketing tactics helped boost their sales and average order value, according to the survey, which did not give specific figures for how much the sales or average order value was boosted. Plus, 37% of respondents credit increases in sales and customer lifetime value to personalized product or content recommendations. And 35% have seen increases in transaction frequency as a result of their personalization strategy. Click Read More below for additional information.
One of the (many) advantages of working with CohereOne is the ability to aggregate data points from multiple sources to gain a clearer view on what can improve results for our clients.
A strategy that has consistently stood out when we review results is the power of using “digital indicators” to identify customers who are more engaged with the brand when making selections on who to mail. We have found three that have proven to work in most cases:
Email Opt-in vs. Opt-out: flagging your buyers on whether they have opted out of email marketing is a sure indication that they will not perform as well as buyers vs. those who have continued to hear from you. This delta is as high as 170% better for the opt-in buyers for one of our clients!
Browse Data vs. Non-Browsers: in some cases we are able to partner with our vendors to identify and score active website browsers on the housefile to use in the RFM segmentation. It makes sense that a buyer who is active on your website is more likely to respond than one that has not been browsing recently, even if that buyer has other strong RFM attributes. We have seen as high as a 200% increase in the $/mail piece difference between the active browsers and non-browsers.
Reverse Email Append vs. Email Address ONLY: most mailers have a large file of email addresses that do NOT have a postal address associated with them. We work with vendors who can take the file and send us back the postal matches to include in the mail selections. We have seen a 23% increase when using this technique of linking the email record with a postal address.
Using any or all of these indicators can inform and enhance your insight into your housefile buyer behavior. We can help you leverage the data in your mail decisions with the help of our vendor partners.
If you would like to hear more about how these indicators could impact your bottom line, feel free to reach out to me at email@example.com