How Sitecore’s Personalization capabilities help in Customer Acquisition
Want to increase the quality of customer interaction? Improve conversion rates? Drive repeat purchases? One-on-one personalization could be the key to achieving all of them. According to a study by MarketingProfs, there is an average increase in sales by 19% for organizations that resort to website personalization. Amazon boasts of having approximately 60% conversion rate of the products it recommends.
A study by Janrain points out that nearly 74% visitors get frustrated with a website when they find nothing of their interest displayed on the site. One-on-one personalization comes in handy as you can use the data on a particular customer to dish out specific ads, offers, promotions, etc. to catch their interest.
Companies are investing time and money to offer personalization capabilities through their online marketing channels. This is where tools such as Sitecore Experience Cloud can provide enhanced search options that lead to personalized results on the website. Knowing each customer also reduces information overload on the page as it becomes easier to customize, catering to a particular interest. All this helps attract visitors to the site and build the sales funnel. Many a times, once a visitor is satisfied with a purchase, there is a higher probability of returning to the site for a repeat purchase. This creates a huge impact on online sales. Another study by MarketingProfs suggests that approximately 40% customers tend to purchase more from businesses that offer personalized shopping experience.
Sitecore Experience Cloud is a more robust, flexible and cloud-based platform where it is possible to customize an individual’s digital experience. This platform integrates new marketing features which bring together content management, customer insights and commerce all under the same roof. The main elements include Sitecore Experience Management (XM), Sitecore Experience Platform (XP), and Sitecore Commerce. Using this suite of interconnected tools of the platform, brand marketers, through large-scale one-on-one personalization, can offer outstanding experience to customers and prospects.
How does Sitecore Experience Cloud help?
Microsoft uses Sitecore XP to deliver personalized or customized content to its partners based on their interactions and geolocation. With the help of this platform, Microsoft is able to offer superior user experience, providing partners with an opportunity for increased interaction and faster as well as easy access to relevant information on the product required. Partners enjoy a personalized experience that helps Microsoft save countless hours of development.
P&G, the multinational consumer goods conglomerate, transformed its digital marketing footprint and reduced costs by 33% using Sitecore XP. The company built an agile global digital marketing platform to address the problem of a complex ecosystem that hindered the performance of its digital marketing teams. The said agile multichannel platform comprising a repository of reusable components made it easy for the teams to assemble, configure, and style digital properties in a unique way catering to each individual brand’s marketing needs. This also slashed the time to market for P&G products by 50%.
The world’s second largest chemical company, Dow Chemical, was facing the challenge of keeping huge volumes of product information up-to-date and consistent across the company’s numerous web properties. Towards this effort, a Contextual Product Information (CPI) initiative was kicked off using the Sitecore XP and Sitecore Commerce. This helped the company to internally simplify their product information management while helping its web visitors to discover Dow products easily, thus leading to increased business.
In the education industry, the Rotman School of Management, one of the top business schools in Canada leveraged the feature of geographic personalization of Sitecore XP to transform its digital presence. They decided to upgrade to Sitecore XP by implementing the geographic IP personalization rules in Sitecore. This helped Rotman identify their users through their IP address and offer them country-specific details thereby achieving their goal of increasing international applications. Rotman’s page visits increased by 14% and reduced the bounce rates by 23%.
In a nutshell, one-on-one website personalization is offering the most relevant content tailored to the interest of a specific visitor. Once you know how to craft a compelling website that backs up your personalization efforts, you will be able to drive higher sales, thus making a greater impact on your business.
To learn more on one-on-one website personalization, get in touch with our certified experts.