As an owner of any retail shop, we are always forward to expand and grow more in our business which as we all know is not a cakewalk. But when we are open to learning and adapting new things and trying new things to give our customers a delightful experience. We can continue to go a long way in the path of prosperity. One such way to indulge our customers into a fascinating experience is by providing a personalized experience for our new and existing customers. But being a business owner it is always tricky to find time between the busy schedules, meetings, and a quest to manage the many aspects of our business.
That is why we have readily complied a list of compelling merits of offering a personalized experience for the people always looking forward to improving and to cater to the needs of their customers in the best way possible. So that we always stay ahead of our competitors and have an edge on the battlefield. Tom Knighton, Executive Development Practice Leader at Conversant Solutions, LLC truly said, “Customer experience is the next competitive battleground. It’s where the business is going to be won or lost.”
Improve customer retention:
According to a study, it was revealed that 44% of the participants were more inclined and responding with a “yes” to purchase again from a retailer that was to offer a personalized shopping experience. On the other hand, where there is a dearth of personalization, an overwhelming 70% of participants find it frustrating to have a lack of personalization. This in turn emphasizes the adverse effect of the lack of personalized shopping experience.
Fulfill customer expectations:
We are living in an era of information, today our customers do expect us to know the online history of their purchases. This brings us to our second point that, only 19% of in-store retailers are able to fulfill customers’ expectations in this area. Hence when we go for providing a more personalized experience does it means more customer satisfaction as well as more sales and customer retention.
Increase average order size:
An aggravation is expected to arise out of the personalized shopping exposure, as reported by the subjects in the study. Half of all segments of respondents appreciated the fact that the personalized shopping experience was a driving force behind their buying behavior of the things which they did not even planned or fathom to buy before entering the shop. It was also seen that due to such a compelling experience the consumers even purchased more expensive items which they would not have rather bought.
Running a shop and running into recurring returns can be truly a mess and hassle for customers and retailers alike. By providing a Personalized shopping experience it can be proved to be instrumental in not only improving the satisfaction rate of the consumers but also increasing the impulse buys as well as restricting the rate of returns by about 5%.
At first, it may appear an intimidating task to start providing a personalized experience but once we get the dice rolling it’s worth every bit of time and efforts spend on it. If we are not able to get into it completely there are also Various companies dedicated to this purpose such as GroupBy Inc. which is a search, merchandising and SEO solution, which enabled by machine learning, can empower any digital team to deliver a personalized site experience that demonstrably increases online revenue, GroupBy Reviews empowers your firm and reduces the costs and IT complexities.