You know that your business should implement some kind of personalization strategy, but what’s the secret to successful personalization? It starts with targeted promotions.
“79% of consumers say they are only likely to use a brand’s promotions if the promotions are tailored to previous interactions.” - Marketo
In this article, you will learn 5 ways to personalize your marketing with promotions at each stage of the customer lifecycle.
Customers Want Personalization
Whether they are loyal repeat buyers or have never made a purchase, customers today expect relevant and personalized experiences.
In fact, 44% of consumers are frustrated when companies fail to deliver relevant personalized shopping experiences. - Accenture
Your businesses should be doing everything it can to deliver a personalized experience at each stage of the customer journey. This can be as simple as showing a "welcome back" message, displaying their name at login or on emails, asking them for feedback on a recent purchase or simply notifying customers when their favourite products are on sale.
Ideas For Personalized Promotions
Offer customers a 20% discount on their first purchase if they join your loyalty program that will provide them with a personalized experience every time. Clearly communicate the benefits of the loyalty program, like special discounts, exclusive offers or early access to features/products.
Email a personalized 10€ coupon code with a well-curated collection of items that are relevant to your customer based on previous searches, "likes" or purchases. If you don't have that data, use geographical data or cultural insights like holidays or popular events to tailor your content. Provide insightful recommendations and informative content to position your brand as a trusted source of knowledge and compelling rewards.
Target active customers (e.g., multiple purchases or 2-3 visits per week) with a tailored product bundling offer. Add specific criteria like geographic location, purchase amount greater than X and from a certain category. If customers fulfill these criteria, offer them a free item with their next purchase of items from a specific category.
After making X number of purchases, personally thank them for their loyalty and invite them to participate in your referral program. For every successful referral, offer them a 20€ gift card for a relevant service or local business. These are typically a small segment of customers, but they often bring in the most revenue.
Email your inactive customers with a friendly and compelling offer like a discount on recommended products. Consider asking if you did something wrong, how you can improve, or communicate what is NEW and improved with your service. Give them a reason to come back and believe in your brand.
Personalized recommendations convert nearly 3X as much as standard emails. - Oracle
If you want to be successful, a promotion should be more than just a generic 5% discount for all customers. Using the above examples as inspiration, get creative and test different types of promotions to see what resonates with customers.
To execute these types of personalized promotions, you need a promotion marketing solution that will enable you to build promotions using all your available data points. Once you start using your data more effectively with a tool like Talon.One, you can deliver the engaging and personalized experience your customers want to see.
By crafting personalized promotions, not only will you save on promotion costs, but your customers will thank you. Now is the time to start personalizing your promotions.
Have questions about personlization or promotions? Get in touch and let's discuss your promotions strategy.
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