Personalization

How Product Data Supercharges Your Ecommerce Personalization Efforts

Personalization

How Product Data Supercharges Your Ecommerce Personalization Efforts

It's clear that ecommerce and personalization have become hot commodities for today’s top brands and retailers. An online survey by Segment revealed that 71% of consumers feel frustrated by impersonal shopping experiences. Similarly, 74% of customers get frustrated when website content isn’t personalized. And of course, the vast majority of consumers dislike irrelevant emails and text messages. 

So how can you be sure your ecommerce personalization efforts are on point? Better product data yields better connections and, ultimately, more accurate personalization to foster those connections. Your ecommerce personalization technology should be able to accurately analyze how your customers engage with these hyper-specific attributes to empower you to make better product recommendations -and create more relevant marketing campaigns across all channels and touchpoints.

Attach Attributes

An ecommerce personalization technology partner like Lily AI can automate some of the most challenging aspects of assigning product attributes to your merchandise. Lily AI first scans all the images in a product catalog, and then assigns attributes from a selection of 15,000 hyper-specific traits that consumers would use to describe their favorite styles. Digging deeper, beyond attributes like color, to include fit, fabric, and style elements, leads to better conclusions about what shoppers are more likely to purchase next time.

Analyze How Shoppers Engage with Those Attributes

Based on the items that shoppers click on or add to their cart, our algorithm can begin to collect personalized data about the shopper and the styles and product attributes they look for. From there, it constructs individual customer profiles based on the product attributes and combinations they interact with.

Create Hyper-Specific Personalized Marketing 

These in-depth consumer profiles can help your brand construct hyper-personalized marketing campaigns to increase click-through rates and drive revenue across all channels and touchpoints. Of course, the best ecommerce personalization tools provide the data and analysis, but it’s up to brands to determine how best to implement the information and build campaign strategies based on these consumer profiles. You can use the unique consumer insights across channels to reach those customers and make enlightened recommendations about what they might like. For example:

Offer Better On-Site Product Suggestions

Product suggestions or “people also bought” and “you may also like” algorithms can lead to upsells and increased revenue. A study from McKinsey & Company determined that product recommendations account for 35% of Amazon revenue. Meanwhile, Accenture found that 91% of customers said they are more likely to shop with brands who remember past purchases and present relevant offers or recommendations based on that information. On-site product recommendations are a powerful tool to increase revenue and put the perfect products in front of specific customers.  

Create More Personalized Emails 

New and returning customers can benefit from personalized email marketing campaigns. To make them even more impactful, fashion brands can put the knowledge gained from implementing enhanced products attribute data and analyzing consumer engagement to work. For example, you might recommend items with similar attributes just a few days after the customer has started to enjoy their first purchase. Targeted email campaigns that rely on context and shopper psychographics can lead to higher open rates and increased conversions by delighting shoppers with highly relevant suggestions. 

Implement Ecommerce Personalization in SMS Campaigns 

SMS marketing may be one of the most under-used channels to reach consumers. In 2020, only 53% of businesses were using text messages to communicate with consumers. Yet SMS messages have open rates as high as 98%, and 90% of texts are read within 3 minutes.

Text conveys an urgency that we no longer have regarding email or other forms of communication. Plus, text messages typically show up in a preview, so users don’t even have to open their phone to see a portion of the message. All it takes is one line of highly targeted, relevant messaging to lead a consumer to open the message and, hopefully, click and buy. That’s why it’s crucial to ensure that what you’re sharing is personalized to that consumer.  You’ll know what those recommendations are by understanding how they’ve engaged with detailed product attributes.

Bottom Line: The Right Data Helps Ecommerce Personalization 

Whichever marketing channels you use, from paid search or social media ads to email marketing, having more relevant content based on insights from your technology partners, like Lily AI, can help improve open rates and increase conversions. Lily AI uses unique algorithms to assign product attributes, create rich consumer profiles, and make it easier for your brand to incorporate hyper-relevant product recommendations into your marketing strategy.


Sources:

Instapage.com - 68 Personalization Statistics Every Digital Advertiser Must Keep in Mind

SmarterHQ.com- Millennials: Where they shop, How they shop, Why it matters

Segment.com - The 2017 State of Personalization Report

Accenture.com - Making It Personal

McKinsey & Company - How retailers can keep up with consumers