Grab your peanuts and Cracker Jack as we get personal with retail personalization
Take Me Out to the Ballgame
Ketchup or mustard? Seems simple, but do we even need to ask anymore? Alexa knows what you like (she’s always listening!) and Amazon has Heinz Ketchup ready to auto-ship on Thursday for your weekend bender of delicious French fries. Netflix might even suggest a docu-series for you based on your love of tomatoes. OK, so that’s probably not a real thing, but you catch my drift.
Today’s consumers expect and demand some level of personalization, and with so much of our life pre-programmed by our preferences, retailers need to step it up and get to know them.
One, Two, Three Strikes…YOU’RE OUT!
Consumers want to feel like they’re in the dugout and not just another fan in the stands – and they’re willingly providing their personal data to get a premium seat.
Retailers need to get in the personalization game quickly or they’re going to strike out. Technology has made it easy to collect data on consumer preferences, but retailers have to put it to use if they want to play ball.
Personalization = loyalty.
Retailers, both online and brick and mortar, can build a loyal fan base by establishing deep relationships. Start simple with tailored messaging and personalized content, then get to second base with basic customization, like segmented offers. Once you get to true 1:1 personalization, retailers will be hitting it out of the park.
How are retailers doing? Well, let’s look at the stats:
- 4 out of 5 retailers admit to underperforming when it comes to personalization.
- 90% of organizations say they’re focused on personalizing experiences, yet only 40% of shoppers say information from retailers is relevant to them.
- Meanwhile, 75% of consumers are more likely to buy from a retailer that recognizes them by name and recommends options based on past purchases.
Want to know more? Geek out here: Personalization Hot Take
OK, you get it – but digital personalization is just the beginning. Retailers must carry their personalization efforts through every touchpoint along the customer journey. Brick-and-mortar stores are leveraging technology to make a personal connection in-store.
Artificial Intelligence (AI) allows the customer to have a personal, customized experience. Who knew a robot could help a Floridian choose the right jacket for their Colorado ski trip?
Augmented Reality creates a branded, digital experience in unexpected places – how cool would it be to see a virtual mock-up of your custom Bentley from a hotel lobby or the view outside your 58th floor condo that’s still under construction?
If these sound cool to you, you should definitely check out our Personalization Hot Take.
Who are the Power Hitters?
A few all-star brands – from GM to Nordstrom to Yeti – have integrated personalization to give consumers exactly what they want, when they want it…or even before they can ask.
See who’s doing what here: Personalization Hot Take