Customer journeys are fragmented and non-linear. People browse on their phone, pop into bricks-and-mortar stores on their lunch break and frantically order online in time for the Christmas delivery cut off.
As a result, retailers must focus on connected commerce – that is, a customer experience that integrates commerce across all aspects of a customer’s life, making products as accessible as possible.
And that requires effective personalisation.
The power of the personal
Slim margins, increased competition and cost-conscious customers are piling the pressure on retail. To stand out from the crowd and secure spend when price and product don’t achieve the same cut-through, retailers need to offer truly personalised customer experiences.
Personalisation isn’t just using a first name in emails or text messages. It goes deeper than that, and can be anything from adapting channels to suit preferences through to recommending products based on previous purchases.
When done right, personalisation pays. 80% of customers are more likely to buy from a company that offers personalised experiences. And when shoppers follow personalised, AI-powered product recommendations, their average order value increases by 14%.
The hottest trend in personalisation this holiday season is what retailers are calling ‘micro-moments’.
Micro-moments are selling opportunities that may only last seconds but can be highly profitable when leveraged at scale. They can happen at various points in the customer journey – from when people are researching online to when they’re specifically looking to purchase.
Needless to say, personalisation is the key to capitalising on these micro-moments. Brands that understand how, when and where to offer personalised recommendations and communications are the ones most likely to profit from these opportunities.
Get hyper-personal with Next Best Action
Next Best Action is the holy grail when it comes to delivering hyper-personalised experiences – in the moment and at scale. Powered by cutting-edge AI, it uses machine learning and predictive analytics to work out the next best step in a customer journey, automatically and in real-time.
In other words, it uses everything you know about an individual to deliver the right message in that micro-moment. That could mean presenting customers with a highly-targeted offer just when they need it. It could be a cross-selling or up-selling opportunity based on historical purchase data. Or it could even involve providing proactive support.
With Next Best Action, you use automation in an intelligent way to meet ever-evolving demands for hyper-personalised experiences – cost-effectively, efficiently and at scale.
Customer expectations over the festive period are even higher than normal. By honing your personalisation approach, you can capitalise on Christmas spending and attract customers that stick with you through the New Year and beyond.
To find out more about using automation to deliver hyper-personalised customer experiences at scale, download this whitepaper.