Industry Performance Metrics Prove Personalized Engagement Drives Customer Acquisition, Conversion and Retention Across All Channels
SAN DIEGO, CA–(Marketwired – Apr 22, 2014) – Certona, the leader in real-time omnichannel personalization for the world’s largest brands and retailers, today unveiled annual digital retail performance metrics on how 1:1 personalized customer experiences drive measurable ROI for brands across all stages of the customer lifecycle: Acquisition, engagement, conversion and remarketing. The metrics are reflective of over 500 online and multichannel retail brands.
Summary of success statistics:
- 1:1 personalized experiences drove a 244 percent increase in click-through rates on email marketing content, as well as a 412 percent increase in revenue per opened email
- Online retailers and brands achieved 300 percent higher conversion from Web responders by using personalized digital content that drove click-through rates, products viewed and session time
- Average order value increased by 50 percent by brands implementing advanced personalization technology solutions
- Overall revenue contribution achieved a 13 percent boost from personalized content and merchandising
The performance metrics illustrate that advanced personalization technology enables brands to first improve customer acquisition, especially within email marketing. In 2013, brands that integrated advanced personalization into their email marketing campaigns saw a 244 percent increase in click-through rates and a 412 percent increase in revenue per opened email. By delivering personalized email offers and promotions, brands capture more customers and maximize email performance.
A critical success factor of driving customer loyalty, and ultimately sales, is using individualized and relevant content in the engagement stage of the customer lifecycle. In the past year, brands experienced up to 300 percent higher conversion from web responders as a result of personalized content. This was due to a combined increase in click-through rates, products viewed and session time. By optimizing personalized recommendations and merchandising, brands improved customer conversion by an increased average order value of up to 50 percent. Lastly, the survey data revealed that brands were able to recapture lost sales through email remarketing, achieving a recovery rate of up to 25 percent from cart and browser abandonment.
“Retailers face fierce competition for consumers’ loyalty and purchasing decisions. Simple in-the-moment testing and targeting, or product recommendations, are no longer enough. Advanced personalization that harnesses the power of predictive analytics enables a better experience tailored to each consumer. This in turn enables brands and retailers to drive stronger engagement and more revenue as profile knowledge is shared across channels,” said Meyar Sheik, CEO and co-founder of Certona.
Certona’s omnichannel personalization solutions enable retailers and brands to transform the way they engage with customers by creating a single, unified hyper-personalized experience across all touch points for the ultimate acquisition and loyalty advantage.
Contact us today to learn more.