For our series on best practices for using data to improve 1-to-1 marketing strategies, we reached out to Nathan Richter, Sr. Director of Strategy and Insights at Monetate, to learn more about website and mobile optimization:
- What kind of improvements have you seen for companies who personalize audience segments or even individual consumers?
It’s a big stair step. On average, we’ve seen companies double and triple their conversion rates.
One client, a men’s clothing retailer,created a personalized experience for women visiting their site. This one tactic lifted the conversion rates among women 100 percent.
Some dip their toe in the water by doing contextual targeting, which will drive greater performance.
Others utilize data to create segments.
Going beyond contextual and segmentation and using anonymized first-party data combined with third-party data to identify high-value segments adds the ability to craft experiences that are unique to those high-value segments.
- How can teams organize to take advantage of personalization?
We have a B2B ecommerce client that realigned their marketing teams into pods, with each pod focused on a different customer segment.
The customer is at the center of each pod with team members focused on a channel or tactic, such as email, website, catalogue, and mobile, all working together around that customer segment to ensure experiences are completely linked and integrated.
This way, what the customer sees featured on the website is consistent with what they see featured in the catalogue and in emails they receive.
It’s really a customer-centric view of the world and it is forcing organizations to evaluate how they align their marketing practices.
- What are your thoughts on best practices around data types and a solid data foundation?
Data is the electricity that drives this whole personalization machine.
I think one of the most important aspects is explicit versus implicit data. How do you go about capturing data that the customers will tell you themselves and what can you see without their input?
A beauty client launched an app where a woman could add a picture of her face and then apply different types of makeup. When she visits the website or when she checks her inbox, she sees relevant coupons based on her preferences from the app data.
Companies who build similar data foundations quickly and accurately will do well by being extremely relevant to their customers.
The other variable is the volume versus the value of data. The proliferation of our ability to capture data has overtaken our ability to take meaningful action on data.
Often the key link that is broken is a common identifier of the customer across marketing systems or databases. The business ends up with a multitude of data points attached to multiple IDs of a single customer.
We often advise clients to clean up their own view and start by outlining what data about your customer is meaningful in a marketing sense and then auditing what systems hold that detail.
Technology and partners can help that last mile with reconciling from there, but taking a logical view about what you want from your data can help you clean it up and make it actionable.
- Is there something specific to mobile when you think about an app, channel, or device type?
The starting point really is being able to recognize people across devices.
This is a big challenge but the technology is available. Once we can recognize a particular customer across their devices, we can think about multi-device journeys and optimize for the device.
Ideally, customers should be able to be on their phone on the subway after work, then hop on their tablet once they get home and see the same content. Customers shouldn’t have to start all over again and find the content or products they were engaging with.
Expanding on the journey element, it is important to understand what that customer behavior and intent is across your channels and devices.
They play a part in the customer journey, but not all can or will do as good a job at something like converting. So taking the time to really understand how that channel or device fits in with your customers is paramount.
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