One question to hit your mind might be ‘what is personalization?’ Our definition of personalization is like this; it defines all the activities involving the analysis and targeting of the individual visitor. Coupled with predictive algorithms, these efforts translate into predictive personalization solutions. These activities may happen on your websites, your e-mails, your mobile app or on your display ads. There is one pre-requisite; state-of-the-art web technologies and algorithms should empower these activities. Using predictive personalization to increase ecommerce revenues is a great strategy that can be used by online stores.
The classic ‘grocery-owner who treats every customer differently’ is great in explaining what personalization is and what should be done to keep customers and maintain their loyalty. This is an example used commonly 15 years ago when the retail world discovered CRM (customer relationship management). Those were the days when retailers rushed to print loyalty cards, distributed them to their customers and hoped to gather as much customer data as possible. This data was then stored in giant servers and many different analyses were carried on this data. CRM is still very popular, still massive data – or big data as people call it – is processed to reach meaningful results on a personal level.
If you are working in any kind of online business; an e-commerce site, a video content portal, an online magazine etc. you are much more lucky than your fellow offline retailer executives. You do not have to print loyalty cards and hope that your customers would use them during every single purchase in order to collect behavioral data. Instead you just need to work with a good technology provider – ie. Perzonalization – which can gather behavioral data and make great analysis. Thanks to computer science; we are now able to process massive data in milliseconds. Coupled with the appropriate algorithms and cleverly designed computing systems, the small grocery owner’s handbook can be transformed into a giant personalization platform.
One other important question is ‘ how could personalization help me?’. The answer is simple; the acts of personalization can increase your revenues, conversion rates, page views, customer loyalty and the stock turnover if you’re in e-commerce business.
At Perzonalization, our job is to focus on the needs of the most valuable resource you have; your visitors. Analyzing their needs, their intentions while visiting the site and the tracks they leave while browsing is the key to understanding the visitor and personalizing your site.
Predictive personalization is a totally win-win scenario in which both the website and the user wins. The user is welcomed with personalized recommendations, banners and content that satisfies her; this at the end translates into more purchases or longer visits. The site owner wins more via increased revenues.