On today’s Business Beat, Jeff Sloan talks about how to use personalization to drive sales and trust in your brand.
Tune in below to learn how to use personalization in your business:
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Good morning, Paul!
This morning on the Business Beat, we’re focused on the power of personalization to engage your existing customers and drive follow-on purchases from them by sending promotions relevant to their interests and their purchase patterns. With all of the technology available to retailers and brands today, there’s an expectation on behalf of consumers that you do, in fact, only send them messages relevant to their interests. If you do it right, it can pay off big. Just make sure you do get it right.
A new study from Redpoint Global indicates that 70% of consumers say that they have received mistargeted messages at least once a month. And as many as 51% of those consumers indicate that this sort of misdirected marketing reduces the quality of their customer experience with your company. You must also make sure to get the customer’s permission to use their data before executing a personalization effort to identify, classify and target them. Again, if done right, most indicate that they’re willing to provide this personal data in exchange for a more personalized experience, as long as they opt-in and agree to the program ahead of time.
Now, John Nash, chief marketing and strategy officer for Redpoint Global, says “Today’s consumers have high expectations of brands they engage with to provide personalized experiences with minimal data risk. Brands that prioritize hyperpersonalization with consumers will gain consumer trust and build brand equity, utilizing the most up-to-date information on consumers to deliver seamless, relevant interactions with as little friction as possible will be a major factor in the future successes of today’s brands.”
So put the power of personalization to work for your business to engage your customers with relevant promotions and upgrade the customer experience in order to beat your competition and drive more sales.
I’m Jeff Sloan, founder and CEO of startupnation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.