Are you hyper-personalizing? Do you even know what that means?
For most of the top 500 internet retailers, and any other eretailers selling a range of products online, hyper personalization is just a pipe dream squashed by an overzealous IT department. Since its beginnings, eCommerce was supposed to deliver on the promise of being able to, as David Ogilvy preached, “Market to an audience of one.” Until now that has not been the reality for reaching online customers.
When the iconic Ogilvy uttered these words, he was primarily speaking to a print, direct mail, radio and TV world of marketers. But applied to eCommerce retailers, it takes on a whole new context. Tracking consumer behaviors is a given in ecommerce. But what is done with the “ecommerce’s big data” to target retailers customers isn’t always as apparent – nor effective.
Recently, TrendWatching.com, a global leader in identifying emerging consumer trends, insights and innovations lists hyper-personalization as one of its top 14 trends to watch in eCommerce marketing. At its core, Hyper-personalization is at the intersection of 4 customer data variables:
- Transactional data (what customers bought or placed in their cart)
- Clickstream data (what customers click on and navigate to while on their site)
- Email behavior data (what customers open and click on)
- Social media graph data (what customers are posting, discussing, revealing and liking on FB)
When you combine these 4 variables you then are able to suggest products for eRetail customers in a never before hyper-personalized manner. Like the way Amazon makes product suggestions based on social media cues, but without the huge cost of programming.
The ecommerce solution I am describing goes well beyond just delivering the data pearls to your IT and Marketing departments’ doorstep and runs away. No, they provide these hyper-personalized product suggestions in a feed that fuels an online store’s email messaging and its website’s front page.
They take the hyper-personalized suggestions and provide a widget for the front page of an online store’s interface so each customer arrives to a customized page. John Doe and Mary Doe see different products displayed when they enter the site.
And when John Doe opens his email, it is a different selection of products than what Mary Doe sees when she opens her email from the ecommerce vendor.
What’s the catch? There isn’t any. The cost to install this is extremely low. Actually, if you are an average sized ecommerce retailer, it is less than $5.00 CPM with a very modest setup fee. If you are a large ecommerce retailer, then the CPM cost drops below $2.00 CPM. All billing is done on a monthly basis. The kicker, it requires almost no contact with your IT department.
Read more about hyper-personalization here.
If you would like to demo the solution, click here.