If you’re not using eCommerce Personalization, you’re definitely losing revenue. In the last year, businesses have lost $756bn because of poor personalization.
But if you get it right, you can make huge gains. Gartner predicts a 15% profit boost by 2020 for those who successfully handle personalization in eCommerce.
In this guide, we’re going to show you some eCommerce personalization examples to inspire you so you can see your own lift in sales.
What is eCommerce Personalization?
How about we start with an eCommerce personalization definition:
Web-based business personalization means indicating individualized offers, item proposals, and other substances to your guests dependent on their past activities, socioeconomics, and other individual information.
Personalization guarantees that your offers are applicable.
It's difficult to over-underline the significance of personalization in eCommerce. The most recent eCommerce personalization patterns recommend that guests need more, instead of less personalization. As per Janrain, 74% of individuals abhor being demonstrated unessential substance.
E-commerce has been on the hunt (for quite a while now) to find the best way to give their customers a personalized online shopping experience.
This means they’ve essentially been looking for the best ecommerce personalization software.
Read on to discover what you should be looking for when choosing your ecommerce personalization platform.Why Invest in An Ecommerce Personalization Platform?Before we begin telling you what to look for in a software platform, we should first tell you why you need a software platform, to begin with.
And if you haven’t been left behind yet, then unfortunately you will be shortly.
There are so many upsides to these tools, that there’s really no reason not to jump on board.
And this is at the top of our list for good reason- sales.
They say you can find nearly anything you could ever want to know somewhere on the internet.
The same may be said of the always growing internet shopping industry.
One of the leading users of personalization of ecommerce is Shopify.This article will touch on how Shopify stores operate, and the benefits they can experience from personalization for ecommerce.What is Shopify?Shopify is merely a branded e-commerce platform.
The website hosts many different markets for many different things that include:Physical productsDigital productsServices and consultationsMembershipsTicketed experiencesClasses and lessonsRentalsAdding a personalized touch to any of the sort of e-commerce market sites above has the potential to be a marketing win for both the merchants and the customers.
If you’re a Shopify merchant selling guitar lessons, for example, a visitor to your page may not only see advertisements for your awesome guitar school, but they may also see recommendations for amplifiers, books, tuners, or strings you may either use for the class you teach, or that you recommend.
That’s personalization; sections showing related objects to the one being sold, or what other people who purchased the same thing might have purchased as well.Benefits of Shopify PersonalizationPersonalizing your Spotify shop has a number of benefits attached to the practice.
Ecommerce platforms have to work hard to get customers to their platform.
A good marketing strategy is the only source through which businesses can expand themselves online.
We often receive requests where businesses want to increase customer engagement to their online platform.
The only way through which businesses can boost sales is through a hyper-personalized marketing strategy.GreyFOX is an AI-based marketing platform with a smart personalization engine to enable eCommerce platforms to boost sales.What is eCommerce Hyper-Personalization?eCommerce hyper-personalization means enabling businesses to curate exclusive offers for every customer to boost sales and revenue.
The offers are created only after evaluating the needs and preferences of the customers based on their purchase patterns- demographics, personal data, etc.According to Optimaster reports, the average shopping cart abandonment reached 76% from 2006 to 2018.
With the hyper-personalized marketing strategy, businesses can provide relevant offers to the customers to reduce cart abandonment and boost sales.Let’s explore some smart ecommerce personalization exapmles to boost sales.
