Customer Centric Marketing Drives Purchases10 Apr, 2013 By: Doug McPherson
SAN MATEO, Calif. – When marketers engage consumers in one-to-one conversations across the customer lifecycle, they increase buyer readiness and sales, says new research from MyBuys, a customer information company. Nearly half of respondents in the study said they buy more from retailers who personalize the shopping experience across channels.
The research showed buyer readiness requires finding the right product (67 percent) at the right price (55 percent). In addition, personalized promotional E-mails (57 percent) and personalized online advertising (35 percent) are top vehicles to prompt consumers to purchase.
MyBuys says since April 2012, consumer awareness of personalization taking place jumped 25 percent. The impact of personalization on purchases increased:
- 21 percent from personalized E-mails
- 11 percent from website recommendations
- 8 percent when experienced across channels
More than half of the respondents said website recommendations (55 percent) and E-mails (54 percent) personalized based on their past browsing and shopping behavior are “desirable” to receive. Nearly 60 percent of consumers indicate that personalized product recommendations provide a valuable service and make it easier to find the products they are most interested in.
Lauren Freedman, who conducted the study, said, “We’ve followed personalized consumer attitudes and behavior for over a decade ... the latest surge in awareness, value and purchase intent shows that consumers’ desire for customer-centric marketing has hit the mainstream.”
Freedman said given the right product at the right price, consumers become “confident and ready” to buy. However, when they leave websites without purchasing, it is most often because:
- 44 percent say they were “still in the research process”
- 33 percent found it “hard to browse for the products” they were interested in
When they do abandon, Amazon and Google are typically the next visits shoppers make, with 60 percent going to Amazon and 42 percent going to a search engine such as Google (and Amazon is often the top ranked result on Google.)
Robert Cell, CEO of MyBuys, said the number of consumers show-rooming on Amazon is a top concern for retailers, highlighting the importance of keeping and re-acquiring a potential customer’s focus during their purchase process.