Retail Success: Personalised Customer Engagement Platforms
Why is everyone talking about a personalised customer engagement platform? Why are all the big retailers focusing on developing customer engagement platforms? In this blog, we will answer every question you may have.
According to a recent study from Twilio, investing in digital customer engagement boosts a brand’s revenue by 90% on average. It was also found that real-time personalisation boosts customer lifetime value. For example, 79% of Australian consumers say personalised experiences increase brand loyalty.
On the other hand, Australian consumers spend 19% more on brands prioritising personalised customer experiences.
This study reveals the critical importance of personalised customer engagement platforms and explains why Australia’s biggest retailers are focusing on their customer engagement platform development.
Retail Success Personalised Customer Engagement Platforms
Before we proceed, it’s essential to know the concept of a personalised customer engagement platform. Understanding this is pivotal because, without it, it would be difficult to use its potential to increase the sales of your retail and e-commerce businesses.
Let’s begin by clarifying what a customer engagement platform is and why it’s becoming an essential tool in modern business strategies.
Table of Contents
What is a Personalised customer engagement platform?
Benefits of personalisation in the e-commerce and retail industry.
1. Increased Conversions and Sales:
2. Improved customer experience:
3. Increased Average Order Value (AOV):
4. Better Understanding of Customers:
5. Competitive Advantage:
6. Greater Customer Engagement:
7. Optimised Customer Journeys:
8. Reduction in Customer Turnover:
9. Strong Competitive Edge:
How do we use personalisation technology in your retail business’s growth?
Step 1: Understand your business and customers.
Step 2: Develop a personalised customer engagement platform.
Step 3: Implant It in Your Business
Step 4: Analyse it and review feedback.
Step 5: Optimise the platform from time to time.
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What is a Personalised customer engagement platform?
A customer engagement platform (CEP) is a flexible software solution that helps businesses deliver transparent, reliable, and engaging customer experiences at scale. Using insights from first-party data, companies can personalise communications with their customers and build lasting loyalty.
Customer engagement is about connecting beyond the obvious touchpoints in the customer journey. Beyond transactions, a continuous relationship exists between the consumer and the brand. A customer loyalty platform is the tool designed to manage this relationship.
Customer loyalty is not just a part of your marketing strategy or plan. Instead, it is a necessary part of your business strategy and growth plan. Personalised customer engagement platform software can help your business turn every interaction into a long-term relationship, reduce customer churn, and increase sales.
Benefits of personalisation in the e-commerce and retail industry.
1. Increased Conversions and Sales:
Personalisation enables retailers to target potential customers more effectively, nurturing them through tailored content and recommendations. Customised landing pages and product suggestions smooth the shopping journey, reducing bounce rates and boosting conversion rates.
2. Improved customer experience:
By offering personalised product recommendations and curated offers, retailers empower customers to navigate their vast product catalogue easily. Simplifying choices and enhancing the user experience leads to higher satisfaction, an increased likelihood of repeat purchases, and increased brand loyalty.
3. Increased Average Order Value (AOV):
Personalisation techniques such as product recommendations and upselling encourage customers to explore complementary products or higher-value items, resulting in more significant purchase amounts per transaction and increasing overall sales.
4. Better Understanding of Customers:
Using first-party data provides valuable insights into customer preferences, behaviours, and purchasing patterns. This data-driven approach enables retailers to refine their personalisation strategies and optimise product offerings, resulting in increased sales and brand loyalty.
5. Competitive Advantage:
In this competitive e-commerce and retail industry, personalised shopping experiences set retailers apart from competitors. You can attract and retain customers in this digitally competitive market by offering unique and tailored interactions.
6. Greater Customer Engagement:
Personalised messages and interactive experiences deepen customer engagement, develop brand loyalty, and drive higher sales and repeat visits to your retail website.
7. Optimised Customer Journeys:
Personalisation ensures that each customer’s journey is tailored to their preferences and needs, leading to smoother navigation, increased engagement and brand loyalty, and, ultimately, higher conversion rates.
8. Reduction in Customer Turnover:
Personalised experiences reduce customer churn by addressing individual needs and preferences, leading to greater customer satisfaction and loyalty over time.
9. Strong Competitive Edge:
By delivering unique and personalised experiences, you, as a retailer, gain a significant competitive advantage, driving customer loyalty and, ultimately, business success in the e-commerce and retail industries.
A personalised customer engagement platform is a trend and a strategic plan for retailers looking to succeed in today’s competitive e-commerce and retail markets. By using the power of personalisation, you can get benefits that drive sales, develop customer loyalty, and position your brand for sustained growth and success.
How do we use personalisation technology in your retail business’s growth?
Step 1: Understand your business and customers.
First, we understand your business objectives, target audience, and preferences. We conduct market research and gather insights into customer behaviour, preferences, and buying patterns. Also, we identify in which area personalisation can add value to the customer experience and increase brand loyalty.
Market research is a big thing. If this step is not taken correctly, everything can go wrong, so our team is an expert in doing research work for the e-commerce and retail industries.
Step 2: Develop a personalised customer engagement platform.
Based on the insights gathered, our experienced team of developers will design and develop a personalised customer engagement platform tailored to meet the specific needs of your business and customers. Then, our experts implement advanced personalisation technologies to deliver tailored experiences to your customers.
We ensure the customer engagement platform has an interactive UI/UX design and easy-to-use features that result in a seamless buying journey.
Step 3: Implant It in Your Business
Then we integrate the personalised customer engagement platform seamlessly into your existing business, including your website, mobile app, and other digital platforms. After that, we ensure smooth implementation by taking the necessary steps and being ready to address any technical challenges during the integration process.
Step 4: Analyse it and review feedback.
iWebwiser’s team continuously monitors and analyses the performance of the personalised customer engagement platform using relevant metrics and data. Our system collects customer feedback through surveys, reviews, and other channels to understand their satisfaction levels and identify areas for improvement in the customer engagement platform.
Step 5: Optimise the platform from time to time.
Based on the insights gathered from data analysis and customer feedback, optimise the personalised customer engagement platform regularly to enhance its effectiveness. Making improvements and updates to keep pace with changing customer preferences and market trends, ensuring that the platform remains relevant and impactful in driving your e-commerce and retail business growth.
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