Boosting Profits with Personalization

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Top Takeaways:

• Personalization is the new CRO (Conversion Rate Optimization). When done right, it is a game changer for businesses to get customers to perform a desired action, whether it is clicking a link, filling out a form, or buying a product.
• A study by Epsilon indicates that 80% of consumers are more likely to make a purchase when brands offer personalized experiences.
• How does personalization impact the bottom line?
  1. Better return on ad spend. Personalization can help you get a better return on investment if you are doing paid ads.
  2. Personalization can decrease cart abandonment.
  3. Personalization helps you grow your email list faster.
  4. A personalized experience increases your average order value.

• When a customer adds something to their cart but doesn’t make a purchase, provide a quick survey to find out what prevented them from buying. You will get so many insights about the obstacles your customers face in their journey that will help you create a personalized experience for them.
• Plus, Eric shares his easiest, simplest, and most cost-effective suggestion for getting a website to become more personalized. Tune in!

Quotes:

“Personalization used to cost a lot. But now, businesses have access to tools and applications to create personalized messages for each customer segment that does not require coding or a big IT team.”

About:

Eric Melchor is the Partnerships & Personalization Ambassador at OptiMonk. He is the host of Innovators Can Laugh, a podcast where he interviews European startups.

Shep Hyken is a customer service and experience expert, New York Times bestselling author, award-winning keynote speaker, and host of Amazing Business Radio.

This episode of Amazing Business Radio with Shep Hyken answers the following questions and more:

1. How can personalization boost conversion rate optimization?
2. What is the impact of personalization on customer experience?
3. How does personalization impact purchasing behavior?
4. How can personalization help businesses create stronger relationships with customers?
5. What are the benefits of personalization for building customer loyalty?