One thing common between Steve Jobs, Mark Zuckerberg and Obama is they all wear same outfits every day, just to avoid spending valuable time on trivial decisions. But the vast majority of our society travels in the opposite direction where they tend to wear or try out new products every day.
Increase eCommerce Sales using Personalization
As a society in general, we are moving more towards personalization and customization on things we use. More than ever retailers are interested in customization to ride along with the tide. An earlier study from Bain & Company has found that out of 1000 retailers, 25 – 30 % of them are interested to integrate product customization to their online store. And only 10% of those retailers have tried product customization in their store.
Which bring us to next question “What are you going to do for retailers? ”. With deep knowledge of building high scale software products and e-commerce store in particular, we wanted to help all the retailers to take logical next in online shopping. So we built Productimize as a plug and play – SAAS based product where any online e-commerce stores can implement customization to their existing website or brand new site with minimum investment.
Better eCommerce Personalization: Psychographic Profiling
For a deeper insight into who customers are, and what they want, eCommerce brands need to start supplementing their personalization strategies with data based on consumer motivations, rather than just their demographics.
After all, the reason why people are visiting your site is far more important than their gender or location. Perhaps that’s why Gartner predicts that by 2020, brands who are able to offer intent-based personalization will increase their profits by up to 15%, compared to brands who don’t.
Furthermore, demographic-based personas lead you down a never-ending path where marketers have to keep creating new personas every time a new type of consumer gets wind of your brand. And of course, with every new persona, you need to create a new set of “personalized” content for that persona, and that persona alone.
Psychographic profiling on the other hand, which produces motivation-based personas, intelligently limit your number of personas.
How else do you think eCommerce personalization is changing? Share your thoughts in the comments below.