If you’re still sending mass emails, you’re driving your customers into the arms of another brand. Over forty percent of consumers value eCommerce personalization. Forty-four percent of them would consider changing brands if another company did a better job of personalization.
Why, then, are so many marketers still sending them irrelevant messages? Shouldn’t everyone be personalizing their eCommerce email marketing campaigns by now?
Why Should You Make eCommerce Personalization a Priority?
Over 90 percent of consumers continue to receive unpersonalized marketing content. Why is that?
It’s not because personalization isn’t worth the effort. Twenty-six percent of marketers reported seeing an ROI of three to five dollars for every dollar spent on personalized campaigns—nine percent saw a return of over twenty dollars.
It’s not because marketers fail to understand the importance of personalized marketing communication either; forty-three percent said it’s the number one thing they need to do to improve the performance of their email marketing campaigns.
No, the reason behind the failure to personalize is a lack of data. Ecommerce marketers know personalization is critical to their success, but thirty-nine percent don’t have the data they need to do it.
Why is Shopper Data So Hard to Collect?
How could it be that almost forty percent of marketers are short on data? Isn’t this the age of Big Data?
It is, but Big Data offers no aid to marketers that seek to improve their eCommerce personalization efforts. It can uncover patterns and trends. But Big Data’s large datasets are anonymized and therefore less helpful for personalization unless you can afford the technology necessary to act on its insights through machine learning and automation.
What about all of their customer data? Doesn’t every eCommerce retailer have a trove of data in their CRM?
Yes, the customer data is there, but as of the third quarter of 2020, the average conversion rate for eCommerce stores was down to 2.06% (a decrease of almost 10% compared to the previous quarter). Of course, that’s not the only way to collect data.
But, while stores can build their email list with good email acquisition tactics, it’s unlikely that they’ll turn over much information when they’re not making a purchase. The average web form contains five fields, and, in general, the fewer fields included, the better the conversion rate.
How Can You Collect the Data You Need When Visitors Don’t Convert?
Website visitor identification technology relies on a short script placed on a website to match up to forty percent of the site’s visitors with their name, mailing address, email, and other data. This software facilitates better personalization by providing invaluable details like:
- phone number
- automotive data
- household income range
- age range
- education level
- homeowner status
- length of residence range
- net worth range
- marital status
- presence of children
Some companies charge as little as $0.24 per record, and once the data is collected, the marketer owns it. The visitor can then received personalized emails and direct mail instead of the unpersonalized messages they’re used to.
Does Website Visitor Identification Work?
The latest research makes it clear that eCommerce personalization is effective, but this technology that facilitates the process is new. The best way to determine whether it will work for your company is to try it.
Running a test will show whether the match rate is as high as promised and the data quality is good.
There are platforms that only charge you when they match a record and don’t require a contract. For $0.24 a lead, running a test is an inexpensive proposition. And, at the moment, you can get 100 free records to begin experimenting, so there’s never been a better time to take personalization to the next level.