4 Personalization Strategies That Can Increase Your Company’s Revenue

Companies that generate an increasing amount of revenue don’t necessarily see a corresponding rise in profits. What happens between the top line on the balance sheet and the bottom line depends on multiple factors. Especially in an uncertain economy, overhead costs and other expenses can fluctuate markedly.

That said, profitability begins with revenue growth. To bring in more sales, you’ll need to take a good look at your marketing plan. Marketing is one of those expenses that can potentially pummel profits, so spend that line item wisely.

One way to increase revenue is by targeting your marketing efforts. In the digital age, that means engaging and building relationships with the right people. Personalization is one way to do that.

The more you know about your customers, the easier it is to customize their experience with your brand. The more personal their experience, the more loyal your customers will be. Here are four personalization strategies that can increase your company’s revenue.

1. Shout the Subject Line

Since it costs far less to keep a customer than cultivate a new one, focus on building lasting relationships. Communication with customers is central to customer retention. Personalization is what will make communication meaningful to them.

Your retention marketing strategies should cover customers who browse, those who leave items in shopping carts, and those who finalize a purchase. Since they all leave digital trails, skip the one-to-many mass messaging and opt instead for the one-to-one approach. Clue your customers into the latter in your subject line, crafted from their browsing and buying habits.

For example, say Jane browses your website for cashmere crewneck sweaters then leaves without buying. Your retention strategy should include a timely message to her via email or text that will grab her attention. The subject line could shout “Craving Cuddly Cashmere?” to let her know that you have her shopping desires pegged.

Don’t let Jane slip away without a fight. Find a sweet spot of timely, personalized prompting that’s helpful but not annoying. Let her know you’re listening.

2. Get Personal and Be Persistent

You know there’s a fine line between being persistent and being pushy. Customers of any stripe are annoyed and repelled by pushy sales attempts. In fact, if you push too hard, it’s the wrong kind of personal communication.

There’s a wealth of sales statistics that support the importance of follow-up in sales. The stats reveal the importance of that email subject line in getting it opened (33%). They also indicate a need to follow up at least five times before the sale (80%).

Personalization in your sales persistence is how you tread that fine line. Gather all the data you can about a customer and use it in your communications. Begin with addressing them by name, even in mass marketing campaigns.

Customers will tolerate hearing from you often so long as you address them and their interests. If you do it well, they’ll welcome the frequent communication. After all, it’s true that most customers want to go where everybody knows their name.

3. Acknowledge Their Consumer Journey

To truly personalize marketing efforts, you need software and systems designed to gather as much information as you can. But storing data about a customer’s journey isn’t enough. You need to deploy your data trove in your routine marketing strategies.

You may want to make customer journey mapping part of your communication plan. Mapping will help you understand your customers’ pain points, motivations, expectations, wants, and needs. In turn, you’ll not only know how to deliver personalized communications to them, but you’ll also gain predictive insight.

Acknowledge the journey by delivering messaging reflective of their actions. Consider Jamal, who browses your website and finally buys a new refrigerator from you. If you keep sending him refrigerator sales emails, he’ll know you haven’t acknowledged his experience with your company.

Your messaging needs to be agile, reflecting every stop on the journey in lock step with the customer. It takes a significant investment in planning, resources, and execution to personalize your marketing efforts. Don’t blow your ROI by essentially telling your customers their experience wasn’t so personal after all.

4. Provide Personalized Service After the Sale

If your personalized marketing efforts are only loaded on the front end, you won’t retain customers for long. How you communicate with them after the sale is just as important to the overall customer experience. In fact, once a customer has established a relationship with your brand, they’ll expect more personalization, not less.

During the sales process, you have the opportunity to gather more qualitative data from customers. You can survey them, request reviews, and troubleshoot any issues they may have with your products and services. You can ask them whether they believe you’re delivering what you promised.

To facilitate these interactions, make sure you have systems in place to make communication personal and convenient. Use 24/7 chat features, a well-designed website knowledge base, social media platforms, and call centers to accommodate individual preferences. In an on-demand world, your brand needs to respond regardless of the time and space between you and an individual customer.

Remember that these interactions, in whatever form they take, should be two-way conversations. Your customers should get the service and information they need. Your brand gets to know its customers and use that knowledge in agile marketing for the future.

Getting Personal

People know they aren’t your brand’s only customer. Nonetheless, they respond positively to brands that make them feel like they are. Personalization is at the heart of that achievement.

A great product or service, a delightful customer experience, and a dash of personalization will keep them coming back. And that will increase your revenue at the top so you can improve your bottom line.

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