How does your company appeal to its customers?
The best way to connect with your customers and prove your company values them is to employ personalized marketing strategies. That translates to tailored messages, promotions, and experiences that make customers feel appreciated, leading to retention and additional spending.
However, personalized marketing introduces a delicate balancing act. On one side is convenience and relevance. The other? Invasiveness.
Here are four components of personalization to keep in mind as your company attempts to strike this balance.
Relevant retargeting and recommendations
Tracking the actions and habits of your customers can be very beneficial to your business. It allows you to provide more suitable and personalized recommendations.
A common personalized marketing tactic is retargeting – an advertising process in which you reconnect a customer with an item or service they were previously interacting with. The purpose is to remind a customer of their interest and entice them to seal the deal.
Although this can be a powerful revenue-generating tool, it’s frequently misused and applied without direction.
Excessive impressions can be counterproductive and annoy customers – pushing them away.
Irrelevant retargeting or off base recommendations can have a similar effect. For example, retargeting an ad for an out-of-stock product or sending a customer a list of winter coat recommendations in the middle of the summer.
These missteps are ineffective and come off as thoughtless.
Timely outreach and follow ups
Determining when to reach out to a customer or follow up on previous interactions is equally important when it comes to personalized marketing.
This requires in-depth analysis of habits and patterns to determine your customers’ ideal purchasing times – such as when a customer’s inventory of your product is low or empty. Beyond just a simple reminder, it’s important to reconnect with your customers and make them feel valued.
Another situation where this timeliness is imperative is after a customer attempts to buy an out-of-stock product. Following up once that product is back in-stock and making it convenient for them to continue their buying process will significantly increase the likelihood of a sale.
Seamless offline and online experience
Customers expect your company’s message and experience to be fluid across online and offline channels. Although coordinating this effort is difficult in practice, it proves to customers that you value them.
For example, Nike effectively aligns its offline and online experience by empowering shoppers with the ability to communicate with sales associates via video and/or chat to get personalized opinions and recommendations.
Starbucks also emphasizes this principle. When customers place mobile orders through the Starbucks app, they’ll receive a prompt with a recommendation to wait a little while before ordering if they’re over an hour from the store – so that their coffee doesn’t get cold.
Loyalty programs incentivize customers to, well, be loyal. These programs can also be great sources of information that you can leverage to improve customer retention and personalize each customer’s experience. How? By tailored promotions and discounts to customers based on their buying habits and preferences.
The Starbucks rewards program is built into its app for simplicity and convenience. The program not only gamifies its rewards with a star system, it also frames its promotions and bonus star challenges to match each customer’s preferences.