Creating Loyal Customers And Boosting Revenues
By Jim Berkowitz
Expert Author
Article Date: 2010-10-28 Here are several excerpts from an article by Carsten Thoma, President of Hybris US, 5 Steps to Personalized Customer Contact. Check out the complete source article for more, including a discussion on mobile personalization:
In a recent survey by ChoiceStream, 59 percent of consumers indicated they receive poor product recommendations online. The results suggest that many retailers are still not tapping into the Web's ability to create a highly tailored and customized experience for their site visitors - potentially jeopardizing customer relationships and likely leaving money on the table.Personalization Done Right So what are the five steps a company should take to segment its customers and effectively personalize the experiences those customers have on its site?... 1. Track consumers' actions - Determine what customers and prospects searched for, what pages they navigated to, which items they investigated, and which items they put into their shopping cart or purchased. This will enable a business to identify critical "indicators of interest." 2. Leverage search history - Use a customer's search history to display a personalized starting page and offer landing pages that make it easy for the customer to find what she's looking for. 3. Analyze customers by context - Use Google referrals, for example, or search trails or engagement patterns to gather context-based information. Combined with a user's profile information and purchase history, a company can provide highly personalized product recommendations to deliver the ultimate shopping experience. 4. Use individual targeting rules - Algorithmic personalization collects data over time, but merchants with fast-moving inventory or extensive product categories can take advantage of behavioral targeting to determine which products, content, or promotions are shown to which customers. 5. Create rules-based "cross-selling" recommendations - Generate a set of appropriate, defined products to prompt add-on purchases. Query recommendations can be provided in real time, and vendors can repay loyal customers by providing special offers to regular buyers. Conclusion Until now, personalizing the individual experience online has been complex and difficult to execute well. But today's personalization technologies enable retailers doing business online to extract commonalities, associations, and cause-and-effect relationships to seamlessly and automatically deliver recommendations and content appropriate to any environment - helping to create loyal customers and boost revenues. Comments About the Author:
Jim Berkowitz is a seasoned executive with more than 30 years of professional services and project management experience related to Customer Relationship Management (CRM) and Financial Management (Accounting & ERP) software solutions for small, mid-sized and Fortune 500 companies. As a Sales Force Automation and CRM Consultant, Jim has assisted more then 100 companies with the design and implementation of custom CRM solutions.
Mr. Berkowitz is the founder and President of CRM Mastery, Inc.; a company dedicated to serving small and mid-sized enterprises (SMEs) by offering affordable tools and guidance to help them plan for and succeed with their CRM initiatives.
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