March 20, 2022
The importance of knowing your customers and 5 tricks on leveraging their data with personalized marketing
Want to get ahead of the game and outsmart your competitors?
Knowing your customers is key to a successful business, as well as a profitable advantage. Not only that, but business owners that know what their customers want can create a customized experience for them, and keep them coming back. Understanding your customers and their needs will build stronger relationships and create a more positive customer experience.
How does a company get to know their customers? This is where collecting data comes in. It’s critical to collect customer data and leverage it in your marketing strategy. Research conducted by The Institute of Direct and Digital Marketing, shows that 82% of marketers who utilize personalized marketing strategies see a 56% boost in overall revenue. This shows that using personalized marketing really works.
There’s nothing customers appreciate and desire more than being treated as an individual. How can this be accomplished? Personalized marketing is the secret to knowing your customers and succeeding in your business.
What is personalized marketing?
Personalized marketing goes beyond just adding your customer’s name to an email or
SMS. It is about sending the right message to the right customer at the right time. It’s about who you target and what you target them with. Each customer should be treated as an individual. This means that you should be able to customize your suggestions based on each customers’ unique needs and interests.
Why is this important? Because when customers feel they are understood and their needs are met, it creates a more positive experience for them. A more positive experience, leads them to spend more time on your site. An increase in time spent on your site leads to more items being added to their carts, which ultimately results in higher revenue for your company.
In fact, personalized marketing is so powerful that according to a recent report revealed that over 70% of shoppers respond to marketing when it’s customized to their needs. This means that personalization is key to understanding your customers.
How can personalized marketing be leveraged to know your customers?
Interested in truly understanding your customers and their needs? Here are some tips to leverage personalized marketing in truly knowing your customers.
- Product recommendations–Tailoring your customers recommended products based on previously browsed items enables a better match to what they may be interested in. This increases the likelihood of adding additional items to their carts.
- Email marketing– Creating personalized emails to send to your customers can help build loyalty and sell products they may be interested in. Emails reminding customers to return to their abandoned cart for instance, can drive your customers to place an order they may have been questioning.
- Customer data management– Sophisticated AI technology enables a more positive customer experience by leveraging your customer’s data across multiple marketing channels.
- SMS marketing– SMSs triggered by user interactions can be created and delivered to your customers in real-time with AI technology. Messages can be automated at any touchpoint and personalized to each individual customer.
- Customer segmentation– As you know, each customer is unique and needs to be treated as such. All marketing messages have to be tailored based on the customers’ preferences. This is where segmentation comes into play. Customer segmentation can assist you in understanding your customers and which category of items they will be interested in.
What are the benefits of knowing your customers and utilizing personalized marketing? It’s simple. When customers are targeted with the right messages at the right time, the chance of conversion increases. Not only that, but the likelihood of cart abandonment decreases, and the items added to cart grows.
Exposebox’s personalized marketing solutions will help you truly understand your customers in their needs to be able to help you see an increase in your conversion rate.