Many retailers are losing the personalisation game, Tryzens
The news that Asos has been named the retailer best at communicating in a poll of UK university students, beating the likes of Nike, Topshop and Urban Outfitters, reflects the importance of retailers taking a personalised approach to engaging with their customers, according to Andy Burton, CEO at Tryzens.
Retailers effectively communicating relevant offers and discounts was rated the most important element of the customer experience, with 68% of students surveyed by Campus Society opting for it, followed by sharing exciting and engaging content, using the right tools to engage with customers and the appropriate frequency of communications.
However, many retailers are failing to implement the necessary technologies and processes. Burton comments: “We are seeing a huge rise in social selling, supported by the kind of innovations that Instagram launched in March 2018, which allows brands to tag up to five products in a post, displaying product information like price and purchase links. Social media networks offer a unique platform for retailers to personalise their messages, ensuring that they can deliver specific offerings to potential and existing customers, based on the preferences, likes and dislikes of these demographics,” says Burton.
“This precise targeting helps consumers to feel a greater sense of connection to their favourite brands and ultimately grows sales and revenue. However, for retailers to generate deeper and more impactful conversations with their customers, it is essential that they analyse all of the data available to them with innovative technologies and use the insights gained to align their digital strategies.”
Artificial intelligence and machine learning are now enabling retailers to deliver personalised product recommendations based on their previous browsing habits, even shuffling product listings on websites to dynamically merchandise a page based on past customer behaviour. Dynamic optimisation can also personalise the customer experience, leveraging machine learning to distribute more bespoke advertising messages. Spotify, working with a company called AMillionAds, was recently able to adapt an ad to the location, temperature and gender of a person. For example, a woman listening to Spotify in the park when the temperature is over 25 degrees Celsius might be served an advertisement for sunscreen.
