Personalisation: How Retailers Can Boost Sales & Increase Loyalty
Last month I wrote about the arrival of Amazon in Australia and the likely impact on small business. Rather than simply slashing prices, small businesses have a strong opportunity to leverage personalisation strategies as a way to boost sales and build strong relationships with customers over the long-term.
Why is personalisation important for an eCommerce business?
All of your customers are different. They respond to different messages and use your business for different reasons. However, many companies continue to communicate the same way with all of their customers. This is particularly evident in mass-email blasts, which are broadcast to entire lists of people, irrespective of the type of relationship they have with your business. In fact, ‘irrelevant information’ is cited as the main reason customers do not open or read emails.
It’s about having the right conversations, with the right customers at the right times!
Personalisation, involves getting to know each of your customers, so that you can respond differently to their various requirements. In an ideal world, it would allow business owners to predict what your customer wants now and in the future, as well as reach out at appropriate times to make sure they are satisfied. It’s about having the right conversations, with the right customers at the right times!
In the short-term, it can increase sales and profits. Over longer time periods, personalisaition can help develop relationships and build brand loyalty
Genuine human interactions will give small businesses a sustainable competitive advantage over big businesses.
Why would I pursue this strategy against a big-player?
It may sound counter-intuitive to compete with Amazon using personalisation strategies. After all, they are very, very good at leveraging data to gain valuable insights about their current and potential customers.
However, small businesses have the good fortune of being a lot closer to the customer, and interacting with customers directly. As well as data and information, we have the added benefit of capturing customer knowledge from experiences, intuition, relationships and person-to-person interactions with our customers.
It is these genuine human interactions that will give small businesses a sustainable competitive advantage over big businesses.
How To Implement A Personalisation Strategy
Take the next step and download this eBook that shows small-business retailers how to implement personalisation initiatives into their business.
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