Did you get to see AgilOne at IRCE 2017? I attended for the first time this year and was lucky enough to work closely with our CEO, Omer Artun PhD and Moosejaw's CMO, Dan Pingree for their session.
It was evident throughout the show that retailers are still striving to better utilize their data to understand their customers. The buzzword on the floor and in the speaking sessions was personalization. Everyone was talking about how they’re approaching it, why it’s vital, and how a lot of retailers are still playing catch-up.
Dan and Omer dove into the topic of personalization and how data is the driving force behind doing it well. I sat in on their session wanted to share some of the strongest insights from their presentation.
Top session Insights
Dan opened the speaking session sharing Moosejaw’s outlook on personalization:
“To us, personalization fits very, very clearly into being notable. That is, if you nail personalization, users are going to talk about it; they are going to tell 10 friends.
At the heart of personalization is a visitors wants and needs. We feel very strongly that visitors have a need and that need is to be understood. They want to be understood because everyone is unique, they have unique preferences and needs the last thing we want to do is make one of our customers feel misunderstood."
He provided some great examples of Mooejaw’s quirky marketing campaigns and the persona clusters they’ve created with the help of AgilOne to engage with their customers authentically. You can read some of their examples and results from their efforts in Moosejaw's customer case study here.
Omer took the conversation into an educational space providing the key elements that retailers need to focus on to make personalization effective.
Omer’s advice: top 3 things to focus on this year
- Analytics - We are living in a world where the corner shop had 300 customers, you could know 300 customers by name, but as marketers, you have 5 people in your department, yet you’re dealing with millions of customers. So, analytics plays an important role to create leverage. Rather than digging with shovels, it provides the excavator for you to understand what’s going on.
- Digitization- Once you buy into the fact that the value of your company is the sum value of your customers, and you become customer-centric and focus on that unit economics of customer-lifetime-value.
- Organizational Enablement- We have customers like Moosejaw who have been a customer of ours for 7 years who are on the forefront and you can feel it and see it in their results. Organizational enablement is what makes or breaks the personalization efforts; it’s not the tools. (Though the tools are important.)
- Increased revenue per email by 9%
- Decreased customer acquisition costs by 10%
- Drove 30%+ lift on $/send for 75% of customers
- Increased email click through rates by up to 41%
- Increased conversion rates by up to 125%
and more... read how!
Four top lessons Moosejaw has learned with AgilOne
- Personalization is the best way to stand out from competition because nobody does it very well, which allows you to survive/thrive.
- Creating a notable experience through personalization is one of the ways to survive in retail.
- Nobody has truly yet figured it out, so now’s the time to invest in the tools that make it possible.
- Think about personalization broadly, not just side experience, what are the personalized experiences you could provide a customer once you know who they are?
Personalization << In case you hadn’t read that word enough in this post, I figured I would throw it in one more time for good measure.
Want to learn more about Moosejaw's journey, marketing efforts, and results?