How Personalization Can Increase Your Conversion Rate
Unlike a physical store, understanding your customers and enhancing their shopping experience in your online store can be tricky. This is because in a brick and mortar store, you get the chance to closely communicate with customers, understand their interests, gauge their response, and gather more information in order to ease their shopping.
However, in an online store, you never know what might turn them off and leave your website, resulting in another cart abandonment. That is one of the main reasons why eCommerce website conversion rates are lower than physical store conversions.
Customers love it when they receive attention and made to feel special. And the only way you can make them feel special online is by personalization. As the eCommerce business opens to adopting new technologies, personalization is a winning technique to woo new customers and retain existing ones.
Not convinced? Our confirmations are backed up by facts and stats which show that 73% of customers prefer personalized shopping experiences and 86% of them admit that personalization plays a key role in influencing their purchase decision.
eCommerce website personalization can be categorized into onsite and offline divisions. But for both these to work successfully, it’s important that you segment your target audience based on their purchase history, buying behavior, page visits, and other elements so that personalization adds more meaning and impacts your conversion better.
Surprisingly, 77% of customers wouldn’t mind sharing their personal information if companies make them understand how such information can enhance their online experience.
1. Onsite Personalization
Onsite personalization includes customizing all possible areas of your website like home page, product page, catalogs, site navigation, your cart page, etc which will result in better user experience and increased conversions.
Your website’s homepage is the place where you gain maximum customer traction. Moreover, you get less than three seconds to impress your visitors. Hence, draw your visitor’s attention by geo-location based customization, featuring content and currency in the user’s native language, personalized offers for first time visitors/ tailor made preferences for existing customers and others. This is proven to increase conversions and impact your sales positively.
Check out these two images where the home page is set up based on the visitor’s preferences.
b. Product Page
Did you know that product pages have the highest possibility to increase conversions?
The Product page is an opportunity for you to highlight your products in a way that appeals to customers and convinces them to buy. Personalization can either emotionally or conveniently convert customers because you can,
Portray your up-selling and cross-selling skill by including relevant recommendations based on purchase history/mostly bought items,
Prominent zoom in/zoom out features,
360 degree product images,
Real life stories,
Sense of urgency to quickly purchase the desired product,
Single page checkout process, and so much more
c. Site Navigation
Provide a welcoming, user friendly site navigation to your visitors because it makes them stick around and navigate smoothly across your products, customer care and other services. Complicating your site navigation can irritate your customers and increase your cart abandonment rates. Macy’s and Amazon follow mega menu trends where customers have options to easily decide their products based on their browsing category, popular brands, new arrivals, and other relevant categories. Once logged into Amazon, it goes a step ahead by giving you the feel of a completely personalized store including the name ‘Your Amazon.com’.
Personalization doesn’t stop with your online store. It extends to staying connected with customers post purchase and creating goodwill among them. You can use personalization tools to grow your business and develop your business further. This includes sending out emails with personalized offers and coupon codes to drive traffic to your website and help customers complete their purchase. According to Econsultancy, email was the most popular personalization channel followed by social media this year.
There are many tools like TargetBay which will help you send personalized emails after studying your customer’s shopping behavior.
Using social media analytics tools, you can study, track and monitor customer behavior across social media platforms and conduct retargeting ads so that customers find them relevant and visit your site.
2. Offline Personalization
The right kind of personalization can help you get in touch with your customers, offline. Retailers like Rebecca Minkoff, Amazon and Nike are adopting advanced technology where customers can self checkout, and use interactive displays to select products. RFID chips, smart fitting rooms, and many such technology are changing brick and mortar landscapes and helping setup innovative features to ease customer’s shopping experience.
Personalization has the ability to revolutionize both online and physical stores to extents we can never imagine. This holds true because the future of eCommerce is purely based on enhanced user experience. When you offer customers what they want, they stick with you and convert to loyal returning customers.
Magento has extensive personalization extensions to maximize your personalization efforts. Our Magento experts are ever-willing to listen and help you with your personalization needs.