How Personalization Drives Better Conversions with Listrak GXP
While eCommerce had grown steadily over the past decade, the pandemic, due to covid-19, accelerated eCommerce penetration dramatically as consumers of all demographics went online, or were forced to go online, to order essentials such as food, cosmetics, and household products. In fact, in the first quarter of 2020, McKinsey & Company reported 10 years’ normal growth of eCommerce in just three months.
While shopping channels changed, expanded (e.g. buy online, pick up at store), or were replaced altogether, the shopping experience expectations did not. Buyers, increasingly at a higher rate, wanted a 1:1 experience as much as possible. Even newer eCommerce shoppers began to expect a more personalized approach to their shopping as they crafted habits, repeat visits, explored new products.
Many shoppers started to ask, why should a store experience be significantly compromised when moving from a physical experience to an online one? If a shopper has specific interests or demands, as marketers, you’re under increasing pressure to deliver a better, richer, and tailored experience.
How do you do that?
Providing Different Experiences to Different Segments of Customers
Let’s frame the challenge starting with an example of an extreme sports store, specializing in surfing, skating, and skiing. Over time, let’s say you’ve developed an online presence with passionate fans of each sport. You run campaigns to your various segments based on their key interest or interests, and make campaign pushes based on season or aligned with specific points on the campaign calendar.
Your basic campaign calendars are set, and now you’ve started using influencers to drive additional, passionate traffic to your site. You’re developing an expert and fanatical hub for your products.
Influencer marketing is growing in popularity among marketers. You could work with an up-and-comer from TikTok. Or for our example to make the point, let’s use two legendary names you may know – like skateboarder Tony Hawk and surfer Kelly Slater.
Tony Hawk and Kelly Slater are paid influencer for your brand, providing social media coverage for a product line from your company. Tony Hawk raves about your specialized shoes that can endure the punishing extremes of skateboarding. Kelly Slater is your paid influencer for your brand of longboards.
When a potential customer comes into your site from an influencer campaign, how do you ensure you’re tracking the right traffic from those different campaigns to different audiences? And, how do you spark that traffic to drive higher conversions and track that source influencer, or campaign?
You shouldn’t wonder about not capitalizing on your traffic. You should explore Listrak’s Growth Xcelerator Platform, or GXP.
How GXP Personalizes the Shopper Experience
GXP works alongside your email marketing, turboboosting your email efforts with additional digital efforts. In this case, it’s not just influencer marketing, it’s a unique acquisition strategy based on the source, in this case Tony Hawk or Kelly Slater, driving different traffic to different items, product lines, and sales expectations.
As a store, if you knew your customer was only interested in one type of product you could provide a more tailored experience – providing items, or types of items, that are more relevant to the shopper to convert more and at a higher rate.
With GXP, you can do just that and deliver a better shopper experience by providing
an instant value (in the form of a coupon, new site visitor discount, etc.) along with a deadline to act (e.g. countdown timer, within two days, etc.) to the right audience at the right time to increase sales.
When you land on the shopping site, GXP can give shoppers a custom-tailored experience –online. With GXP, you can tailor the shopping experience to, in our example, surfers and skateboarders. Or you could customize by interest, previous interests, profiles, etc. And this is provided via a tailored pop-up overlay that is relevant to each specific, targeted audience. The personalization options are wide depending on the experience you want to provide, but it’s personalization that converts.
This pop-up can be present on homepages, or category or product pages, or however you define. There’s no need to create a new homepage, a more effective and faster approach can be done via pop-ups that remember and are attuned to the source (e.g. a campaign, an influencer site, etc.). We personalize that experience by segment, cohort, source.
A Future-Proofed Single View of Customers Over All Their Devices
Given the proliferation of devices across a single identity, GXP can identify, recognize, and leverage zero- and first-party data, across mobile, tablet, and laptop – and centralize that data to understand and continue building a more fully-fledged picture of a single subscriber.
So, when you send your next marketing message, you have additional items, products, and categories that are relevant to that subscriber, and continuing to increase the likelihood of future conversions and purchases.
With third-party data quickly being phased out, GXP is ahead of the curve in helping you leverage more worthy zero- and first-party data. Not only do you have a stronger acquisition strategy in play with GXP, you also are more data compliant and set for future growth.
Are you optimizing the 40% of revenue that is affected by triggers?
Nearly 40% of your email revenue comes from triggers – browse abandonment, shopping cart abandonment – very contextual and personalized triggers. Normally, when you build out your campaigns, you follow a proven playbook – even “set it and forget it” plays to trigger action after three, 12, 24 hours after something happens (or doesn’t happen in the case of, say, cart abandonment).
How often are you testing and optimizing those “set it and forget it” triggers? Again, this is 40% of your revenue potentially at stake. Not an insignificant amount. With GXP, you have a team that constantly tests, optimizes, and personalizes those triggers. As you build a more comprehensive picture of a customer, you have more triggers to deploy from your playbook.
More triggers leads to more optimization over time, equaling more revenue.
More critically for a better consumer experience, if your shopper comes from a certain campaign (like a Tony Hawk influencer campaign), GXP recognizes that trigger, loops back, and provides further personalization onsite and through your emails.
And while you may be constrained to add (or find) good talent to your team, GXP does this as a managed service: We work alongside you as a retail/brand marketer to develop the strategy and goals, and Listrak does the rest of the work while providing performance guarantees.
At Listrak, you can tap into a deep reservoir of experience on maximizing performance: The Listrak team’s value isn’t just in the experience and depth of “what works and what doesn’t work” according to the latest buying and selling trends, it’s in the testing and strategy that is hyper focused on delivering results – namely eCommerce revenue and ROAS lift – that are guaranteed.
Further, we can manage that via any email service provider (ESP) you use.
You can get GXP for a risk-free pilot period. We provide the expectations to help you grow. We do the work. You reap the rewards and the applause.
Put us to the test. You can get your own performance guarantee with Listrak’s GXP here.