3 Ways to Boost Conversion with Personalized Offers
As the competition to acquire and retain retail customers, be it for e-commerce or offline sales, grows fierce, sellers are constantly looking for ways to boost their sales conversion rates. One way to do so is by harnessing the power of personalized offers.
Here are 3 ways to boost conversion with personalized offer!
Personalized Product Recommendations
Think Amazon here! Personalized product recommendations are one valuable tactic that online and offline sellers have been leveraging since the advent of consumer culture and dawn of the internet age. In their detailed report, Accenture reveals that at high as 75 percent of the shoppers prefer buying from the retailers that recognizes their product choice and personal details. That means, if you know a customer’s name, purchase history and interests, you can present them with the offers that have high probability of conversion. In fact, you can utilize powerful tools like these to create and manage personalized offers to optimize your sales conversion.
Personalized Marketing Campaigns
If you want to boost sales, it mostly begins by segmenting your audience and forming a customer persona. Note that not all your sales conversions belong to a single kind of persona. Different segments might be buying from you. For example, brand loyal but price conscious customers and those who are price sensitive and always on a lookout for discount deals. With personalized offers for each such segment, you can dramatically increase your sales conversion rates. Your analytics will help you form the buyer persona for each segment, and you can then target personalized offers and deals via content marketing, email marketing, etc.
Personalized Retargeting Ads
All is not lost even if a customer bounces off your website. This is where personalized retargeting ads come into play. They are a powerful tool for e-commerce sellers that gauge a customer’s interest through website surfing and cookies, then display the ads for similar products if a customer visits another website. The idea here is to bring back the customer to your website and prompt sale. As a retailer, you can leverage retargeting ads to give personalized offers to the online shoppers.
Use the above-mentioned tactics and tweak until you find the sweet –spot that works best for you!