The 3 R’s of Personalization
What a week we had at Shoptalk. We are still digesting all of the valuable insights gleaned, the time with partners, and of course, the time we spent with our clients. ShopTalk helped reemphasize the idea that personalization is more important than ever in the retail space. Customers crave memorable, personalized experiences, and brands realize it’s time to adopt technologies that bring these ideas to life.
If the goal of personalization is to connect with customers in a lasting way, then we must create a 360-degree view of a customer. When done right, that profile and view of the customer serves as a catalyst to the memorable experiences we have been striving to achieve over the past 5 years. So how do we engage shoppers and drive loyalty? The answers to these questions lie in the three R’s: Recognize, Recommend, and Remind.
The vital first step in personalization is to recognize the customer. It’s imperative to acknowledge each shopper as an individual so the shopping experience can be tailored to his or her specific needs. This creates a unique connection between the brand and the shopper– it builds trust between both parties and makes the consumer feel seen and heard. This initial step is where the relationship between the brand and the customer first blossoms. The most important part of this step is being able to recognize the shopper regardless of channel or timing.
Recognition helps to drive relevant information and products to the consumer, otherwise known as recommendations. Relevant recommendations decrease friction and increase efficiency in the buying journey. By providing product and content recommendations, brands can deepen shopper engagement. This deeper engagement results in higher confidence throughout the buyer’s journey, which ultimately equals increased loyalty and LTV. All throughout this process, a 1:1 relationship is built between the brand and the customer.
By tracking the shopper’s activity and behavior, 4-Tell’s machine learning algorithm can predict what kinds of content and products the consumer wants to see. This smart, ever-learning technology helps deliver memorable experiences and drive momentum in the shopper’s journey.
After recognizing the customer up front and delivering a seamless path to purchase, it’s time to nurture the relationship that was just created. Brands need to continually remind customers of the 1:1 relationship created, both during and after a purchase. It’s vital to remind the consumer this relationship exists and there are endless experiences to be had in the future.
41% of consumers said they have ditched a company due to ‘poor personalization and lack of trust.‘ Don’t let this be you! Remind your customers you are there to support them and provide them with the most memorable shopping journey possible. But don’t just tell them. Show your commitment by providing excellent recommendations and resources.
The 3 R’s of Personalization
We’re noticing a shift in the retail industry: experiences are of the utmost importance, and everything revolves around the shopper, regardless of time or channel. Brands must acknowledge of this shift and adjust accordingly, to continue building trust and loyalty in their customers. The 3 R’s can help massively reinforce the 1:1 relationship consumers desire while driving conversions and sales for the merchant. Personalization is a true win-win for both shoppers and merchants.