If that figure surprises you, just listen to this:1 in 5 of these consumers would be willing to pay 20% more for a personalised or exclusive product! In the second shop, however, there is no catalogue – you can walk in and ask for any image you want – a photo of your nan for her 90th birthday, a cartoon of you as a superhero doodled by your niece, or just the words “do not disturb”. Internet Retailer found that 80 percent of consumers like it when emails they receive from retailers recommend products to them based on previous purchases. In recent years sales in physical stores have been decreasing. Loyalty 360 reports that 74 percent of customers feel frustrated when website content is not personalised. hbspt.cta.load(2140481, '1465de90-017e-4dd1-a51a-b6d90249fc9b', {}); We recently spoke with Chloe Thomas, an ecommerce marketing specialist and author of the recent global best seller “eCommerce Marketing”…, Multivariate testing and A/B testing both involve learning from your subscribers by testing engagement within your database. This means that while their personalised product is being created, customers have more time to browse and possibly even generate more sales. Let's take an email marketing welcome program, for example. Family? Personalisation has been a top priority for marketers for some time now. Generate more sales. Read on to find out. Increase the profit margin. With a little ingenuity, you can customise the same items you already sell, simply by adding a special little touch. Who knows - in the future, artificial intelligence might let companies use their customers’ personalisation habits to anticipate the next big sales trend. Having a personalised homepage can increase sales by 7 percent. to improve your user experience. In this way getting personalisation offers right could increase your market share, with more customers preferring your brand over competitors. Explore our subscription options and get instant access for you, your team and your organisation to a wealth of resources designed to help you achieve excellence in marketing. One of the most effective personalisation tactics is product recommendations. Before the pandemic, investment in martech was on the rise. You don’t need to trash your existing business model to tap into the personalisation market. #betterstartshere, 5 reasons why personalisation is essential when the country is in lockdown, Pure360 CEO, Mark Ash, recognised in Top 25 CEO’s of Europe 2020, 10 Black Friday emails we’re loving in 2020. Having your own means of gaining an insight can give you a strong competitive advantage. Xeim Limited, Registered in England and Wales with number 05243851 Or as, Why brands need to combine digital self-service with a human touch, How local languages should influence your search & advertising strategies, The best digital marketing stats we’ve seen this week, The role of personalisation in customer loyalty post-Covid, The vital role of ‘slow data’ in ecommerce. If you are considering investing in personalisation tools for your company, equipping yourself with some key statistics can help you judge the sort of return on investment you can expect. One study found personalised recommendations in email campaigns and product pages increased sales by 3.5 percent. We caught up with Toni to find out what it was like to launch a new website and brand during a pandemic, and how Covid-19 has changed her daily working life. Customer data, consumer trends and buying habits are strong tools to have in any business arsenal. Here are four key benefits of personal development: You’ll figure out what you want to do ; By carrying out ongoing personal development, you’ll be learning more about your abilities and aspirations. Given the choice, most people will choose to shop at store #2 and get their dream t-shirt, safe in the knowledge that nobody else has the same one. Many of these entrepreneurs are pleasantly surprised at how fast they can see a return on investment, but when you consider the advantages of product customisation, it makes perfect sense. Does your website or shopping basket have a high abandonment rate? Top use cases for Marketing Automation in Education and Online Learning, 7 tactics UK marketers can learn from Singles Day, China 2020, 4 RFM segments successful marketers are using to accelerate lifecycle automation results, How to nurture customers new to ecommerce, Best Practice Guide to Marketing Automation for Acquisition, 5 reasons why marketing automation is essential for retail marketing, 30 Email Marketing Statistics to Shape Your Strategy. People like to be shown products that fit with their personal preferences and are aligned with what they’ve purchased previously. Copyright © 2020 Centaur Media plc and / or its subsidiaries and licensors. More information can be found in our Cookies Policy and Privacy Policy. If you have a desktop UV LED printer, you can print very short runs of personalised items without the steep overheads of outsourcing the work. It’s easier than ever to start a business, since online stores remove overheads associated with the traditional retail model. Why Personalisation Is Important: What 7 Statistics Tell Us 1) Website personalisation increases conversion rates. This example from Clinique puts personalised product recommendations into action. Personalisation has been a top priority for marketers for some time now. Working on your personal development is not only essential for your own self-improvement, but can also help you thrive professionally. If you can offer unique products, custom-designed for each client, it’ll make a big difference in the decision-making process. >, Interior, décor, photography and fine art. A day in the life of… Toni Wood, CMO of Ufurnish.com. Gartner have predicted that by 2020, personalisation technology that recognises customer intent will enable digital businesses to increase profits by up to 15 percent. Offering fully customised products turns online shopping into a unique experience, adapting your online store according to the interests of each customer and increasing the conversion of each visit to a sale. Picture the scene: a town has two clothes stores, both of which sell t-shirts. In the online world, e-commerce websites will adapt their recommendations according to what you’ve already bought. And the homepage is a place where personalisation can have a big effect. The Rivervale team improved their email marketing results by 40% with Pure360. This level of personalisation doesn’t just give the customer what they want – it also creates a closer bond between the brand and the consumer. What’s more, production recommendations aren’t just a consumer preference—they lead to an increase in sales. Tailoring content to people’s individual needs increases sales. But that doesn’t mean you have to stockpile versions of your product – you can customise a single product as each order comes in.