exceeding customer expectations with personalization
TRANSCRIPT
Ecommerce professionals aren’t adapting fast enough to customer expectations.
The traditional ecommerce conversion funnel
of marketing budgets are
spent on acquiring new
traffic
90%
The inverted ecommerce conversion funnel
3%Shift your focus to the
that are driving your revenue
3%Shift your focus to the
that are driving your revenue
Shift your focus
Shift your focus
3%Shift your focus to the
that are driving your revenue
The question is:Are you using it to increase CLTV?
Exceeding Customer Expectations with Personalization
- THE KEY TO INCREASING CLTV
Patrick ObolgogianiBusiness Development Manager
Nosto provides marketers and ecommerce professionals with a
complete personalization solution.
nosto.com I [email protected]
@nostosolutions
NostoSolutions
Nosto
“Mission
A little bit about Nosto
Making it easy for retailers to deliver their customers personalized shopping experiences, wherever they are.
2011founded
15K+retailers
60team
5offices
Founded originally by retailers Nosto has developed into a complete personalization solution.
Today trusted by over 15,000 retailers in over 150 countries
A Team of 60 people with 20+ nationalities
Offices in New York, London, Stockholm, Berlin and Helsinki
SOME OF OUR
CLIENTS
Agenda 1. Evolved Customer Expectations
‣ Why and how do ecommerce professionals need to adapt?
2. A Proven Solution: Personalization
‣ Why and how does it work?
3. Exceeding Customer Expectations
‣ Using the ACRO model to increase CLTV• Attract• Convert• Retain• Optimize
‣ Best Practice examples
4. Q&A
Evolved Customer Expectations
‣ Why and how do ecommerce professionals need to adapt?
Purchase pathways can be extremely complex
We live in a super-connected multi-device
world, driven by mobile devices…
of people accessing the Internet globally use
more than one device
70%
Customers don’t think about channels42%
43%20%
Research online, purchase offline
Check prices online while in store
Of online purchases are picked up in store
43%
44%71%
Would be encouraged to make a purchase after seeingan item on social media
Feel social media is a good source for product reviews and recommendations
Read peer reviews and recommendations
Customers don’t think about channels42%
43%20%
Research online, purchase offline
Check prices online while in store
Of online purchases are picked up in store
Personalization is not fully
understood by those who would
benefit most from using it.
Personalization is becoming expected,at all touchpoints43%
42%42%
Choice was influenced by personalized recommendations/ promotions/deals
Expect to receive real time personalized product recommendations and promotions
Want to receive tailored discount codes based on previous purchases
A proven solution: Personalization
‣ Why and how does it work?
OTHERCHANNELSCS / CRM / ERP / ESP
SOCIALMEDIA
FB / PINTEREST / TWITTER
ONLINE STORE
SEARCH ENGINES
BRICK & MORTAR
3rd PARTYSITES
How does it work?EMAILS
APPS
DESKTOP / TABLET / SMARTPHONE POS / CRM / ERP / IOT
MOBILE / GAMES / TV
GOOGLE / YAHOO / BING
BLOGS / MEDIA SITES
TRIGGERED / NEWSLETTERS
How do you do that?
OTHERCHANNELSCS / CRM / ERP / ESP
SOCIALMEDIA
FB / PINTEREST / TWITTER
ONLINE STORE
SEARCH ENGINES
BRICK & MORTAR
3rd PARTYSITES
Analyzing all touchpointsEMAILS
APPS
DESKTOP / TABLET / SMARTPHONE POS / CRM / ERP / IOT
MOBILE / GAMES / TV
GOOGLE / YAHOO / BING
BLOGS / MEDIA SITES
TRIGGERED / NEWSLETTERS
OTHERCHANNELSCS / CRM / ERP / ESP
SOCIALMEDIA
FB / PINTEREST / TWITTER
ONLINE STORE
SEARCH ENGINES
BRICK & MORTAR
3rd PARTYSITES
EMAILS
APPS
DESKTOP / TABLET / SMARTPHONE POS / CRM / ERP / IOT
MOBILE / GAMES / TV
GOOGLE / YAHOO / BING
BLOGS / MEDIA SITES
TRIGGERED / NEWSLETTERS
Analyzing limited touchpoints
OTHERCHANNELSCS / CRM / ERP / ESP
SOCIALMEDIA
FB / PINTEREST / TWITTER
ONLINE STORE
SEARCH ENGINES
BRICK & MORTAR
3rd PARTYSITES
Analyzing all touchpointsEMAILS
APPS
DESKTOP / TABLET / SMARTPHONE POS / CRM / ERP / IOT
MOBILE / GAMES / TV
GOOGLE / YAHOO / BING
BLOGS / MEDIA SITES
TRIGGERED / NEWSLETTERS
OTHERCHANNELSCS / CRM / ERP / ESP
SOCIALMEDIA
FB / PINTEREST / TWITTER
ONLINE STORE
SEARCH ENGINES
BRICK & MORTAR
3rd PARTYSITES
Analyzing all touchpointsEMAILS
APPS
DESKTOP / TABLET / SMARTPHONE POS / CRM / ERP / IOT
MOBILE / GAMES / TV
GOOGLE / YAHOO / BING
BLOGS / MEDIA SITES
TRIGGERED / NEWSLETTERS
Exceeding Customer Expectations‣ Using the ACRO model to increase CLTV
‣ Best Practice examples
OTHERCHANNELSCS / CRM / ERP / ESP
SOCIALMEDIA
FB / PINTEREST / TWITTER
ONLINE STORE
SEARCH ENGINES
BRICK & MORTAR
3rd PARTYSITES
How does it work?EMAILS
APPS
DESKTOP / TABLET / SMARTPHONE POS / CRM / ERP / IOT
MOBILE / GAMES / TV
GOOGLE / YAHOO / BING
BLOGS / MEDIA SITES
TRIGGERED / NEWSLETTERS
How do you do that?
The ACRO model
‣ Prospecting Facebook ads
AttractDrive qualified traffic to
your store.
Attract
‣Display prospecting Facebook ad campaigns to a predefined demographic based on interests that match that of your business.
‣ Target potential customers with highly similar profiles to those of your current customer base.
Did you know?On average, automated, dynamic
product ads generate performance improvements of more than
400%
How?
compared to static ads
Eton‣ Display best sellers to prospects.
As the items with the highest proven conversion rate these are the ones most likely to cut through the noise.
‣ Target lookalike audiences, those similar to their current customerbase, to attract shoppers who are more likely to convert.
‣ Display real-time ads that are dynamically optimized according to current behavior and interactions - reflecting trends as and when they happen.
The ACRO model
‣ Prospecting Facebook ads
AttractDrive qualified traffic to
your store.
Convert Inspire visitors with
highly relevant products and promotions.
‣ Personalized re-engagement ads‣ Product recommendations incl.
personalized, best seller, search.‣ Behavioral Pop-ups‣ Personalized emails‣ Email personalization widgets
‣ Display onsite Product Recommendations to guide customers to the most relevant products based on their unique user behaviour.
‣ Engage your customers in social media by recommending products picked just for them based on their previous shopping behavior.
‣ Enable behavioral pop-ups to reduce site abandonment and create a sense of urgency with time-limited special offers and one-time discounts.
‣Personalize your email marketing efforts to speak to each customer individually
Did you know?Personalization can increase conversion on average by
65%
How?
Convert
‣ Display onsite Product Recommendations to guide customers to the most relevant products based on their unique user behaviour.
‣ Engage your customers in social media by recommending products picked just for them based on their previous shopping behavior.
‣ Enable behavioral pop-ups to reduce site abandonment and create a sense of urgency with time-limited special offers and one-time discounts.
‣Personalize your email marketing efforts to speak to each customer individually
Did you know?Personalization can increase conversion on average by
65%
How?
Convert
Zalando‣ Visually enticing
‣ Fully personalized based on the individual customer’s tastes
‣ Self learning; it places more weight on items, brands and styles liked in the underlying algorithms
‣ Ensures that currently hot items are always displayed
Eton‣ Mastering the art of cross-selling
‣ Offering brick-and-mortar level customer service
‣Offering both alternative and complementary items to increase AOV & generate happy customers that find what they are looking for.
How?
Convert
‣ Display onsite Product Recommendations to guide customers to the most relevant products based on their unique user behaviour.
‣ Engage your customers in social media by recommending products picked just for them based on their previous shopping behavior.
‣ Enable behavioral pop-ups to reduce site abandonment and create a sense of urgency with time-limited special offers and one-time discounts.
‣Personalize your email marketing efforts to speak to each customer individually
Did you know?Personalization can increase conversion on average by
65%
Yumi Kim‣ Displaying personal
re-engagement ads to cut through the noise
‣ Places more weight on items that have been shown most interest in by the individual customer
‣ Targeting a specific audience to maximise ROAS
How?‣ Display onsite Product Recommendations to guide customers to
the most relevant products based on their unique user behaviour.
‣ Engage your customers in social media by recommending products picked just for them based on their previous shopping behavior.
‣ Enable behavioral pop-ups to reduce site abandonment and create a sense of urgency with time-limited special offers and one-time discounts.
‣Personalize your email marketing efforts to speak to each customer individually
Did you know?Personalization can increase conversion on average by
65%
Convert
Geggamoja‣ Increases the likelihood of a
purchase by offering a time-limited discount
‣ Delights new customers
‣ Allows for re-marketing at a later stage
How?‣ Display onsite Product Recommendations to guide customers to
the most relevant products based on their unique user behaviour.
‣ Engage your customers in social media by recommending products picked just for them based on their previous shopping behavior.
‣ Enable behavioral pop-ups to reduce site abandonment and create a sense of urgency with time-limited special offers and one-time discounts.
‣Personalize your email marketing efforts to speak to each customer individually
Did you know?Personalization can increase conversion on average by
65%
Convert
Golf Discount‣ Sends out a personalized
newsletter ensuring each recipient is met with the most relevant items.
‣Promotes right products to the right audience
Produce loyal customers and inspire repeat
(return) visits to your store.
Retain
‣ Order follow-up email‣ Abandoned cart email
‣ We miss you email
The ACRO model
‣ Prospecting Facebook ads
AttractDrive qualified traffic to
your store.
Convert Inspire visitors with
highly relevant products and promotions.
‣ Personalized re-engagement ads‣ Product recommendations incl.
personalized, best seller, search.‣ Behavioral Pop-ups‣ Personalized emails‣ Email personalization widgets
How?‣ Set up automatic follow-up emails which include items
relevant to those items previously purchased ‣ Allow customers to conveniently continue shopping
where they left off by sending out abandoned cart emails
‣Give customers a reason to come back by automatically sending customers who haven’t visited your store for a while a ”We Miss You” email
Did you know?personalized triggered emails have an
average click-through rate
10xhigher than the industry standard.
Retain
How?‣ Set up automatic follow-up emails which include items
related and relevant to items previously purchased ‣ Allow customers to conveniently continue shopping
where they left off by sending out abandoned cart emails
‣Give customers a reason to come back by automatically sending customers who haven’t visited your store for a while a ”We Miss You” email
Did you know?personalized triggered emails have an
average click-through rate
10xhigher than the industry standard.
Retain
Organic Surge‣Visually enticing and easy to read
also on mobile
‣Fully personalized based on the customer’s previous shopping behavior
‣Recommending items the customer has shown an interest in previously
‣Displays items that go well together with items already purchased
How?‣ Set up automatic follow-up emails which include items
related and relevant to items previously purchased ‣Allow customers to conveniently continue shopping
where they left off by sending out abandoned cart emails
‣Give customers a reason to come back by automatically sending customers who haven’t visited your store for a while a ”We Miss You” email
Did you know?personalized triggered emails have an
average click-through rate
10xhigher than the industry standard.
Retain
Melvin & Hamilton‣ Offers a convenient way back to
the online store
‣ Reminds customers of interesting items left in their cart
‣ Recommends other interesting items based on the shopping behavior of the individual customer as well
Retain
How?‣ Set up automatic follow-up emails which include items
related and relevant to items previously purchased ‣Allow customers to conveniently continue shopping
where they left off by sending out abandoned cart emails
‣Give customers a reason to come back by automatically sending customers who haven’t visited your store for a while a ”We Miss You” email
Did you know?personalized triggered emails have an
average click-through rate
10xhigher than the industry standard.
Melvin & Hamilton‣Reach back out to customers if
they haven’t been online in 90 days
‣Offer items the customer has showed the most interest in, or pieces relevant to these
‣Display currently popular items, enticing the customer to discover more styles.
Produce loyal customers and inspire repeat
(return) visits to your store.
Retain
‣ Order follow-up email‣ Abandoned cart email
‣ We miss you email
‣ Prospecting Facebook ads
AttractDrive qualified traffic to
your store.
Convert Inspire visitors with
highly relevant products and promotions.
The ACRO model
Continually improve performance.
Optimize
‣ Analyse your KPIs ‣ Conduct split tests‣ In-depth analytics
tools
‣ Personalized re-engagement ads‣ Product recommendations incl.
personalized, best seller, search.‣ Behavioral Pop-ups‣ Personalized emails‣ Email personalization widgets
How?‣ Continuously analyse your KPIs ‣ Conduct split tests‣ Use in-depth analytics and reporting tools
to improve your performance
Optimize
Produce loyal customers and inspire repeat
(return) visits to your store.
Retain
‣ Order follow-up email‣ Abandoned cart email
‣ We miss you email
‣ Prospecting Facebook ads
AttractDrive qualified traffic to
your store.
Convert Inspire visitors with
highly relevant products and promotions.
The ACRO model
Continually improve performance.
Optimize
‣ Analyse your KPIs ‣ Conduct split tests‣ In-depth analytics
tools
‣ Personalized re-engagement ads‣ Product recommendations incl.
personalized, best seller, search.‣ Behavioral Pop-ups‣ Personalized emails‣ Email personalization widgets
Congrats! You should now
Understand the power behind personalization
Understand why personalization is a holistic long-term strategy that is a necessity to drive a successful ecommerce business
Know how to use personalization to attract, convert and retain ideal customers to generate an effective return on your marketing spend
Be able to exceed customer expectations and increase your CLTV
Nosto provides marketers and ecommerce professionals with a
complete personalization solution.
nosto.com I [email protected]
Q&A
OTHERCHANNELSCS / CRM / ERP / ESP
SOCIALMEDIA
FB / PINTEREST / TWITTER
ONLINE STORE
SEARCH ENGINES
BRICK & MORTAR
3rd PARTYSITES
How does it work?EMAILS
APPS
DESKTOP / TABLET / SMARTPHONE POS / CRM / ERP / IOT
MOBILE / GAMES / TV
GOOGLE / YAHOO / BING
BLOGS / MEDIA SITES
TRIGGERED / NEWSLETTERS
How do you do that?