exceeding customer expectations with personalization

Ecommerce professionals aren’t adapting fast enough to customer expectations.

The traditional ecommerce conversion funnel

of marketing budgets are

spent on acquiring new

traffic

90%

The inverted ecommerce conversion funnel

3%Shift your focus to the

that are driving your revenue



Shift your focus

The question is:Are you using it to increase CLTV?

Exceeding Customer Expectations with Personalization

- THE KEY TO INCREASING CLTV

Patrick ObolgogianiBusiness Development Manager

Nosto provides marketers and ecommerce professionals with a

complete personalization solution.

nosto.com I [email protected]

@nostosolutions

NostoSolutions

Nosto

http://nosto.com/

mailto:[email protected]?subject=

“Mission

A little bit about Nosto

Making it easy for retailers to deliver their customers personalized shopping experiences, wherever they are.

2011founded

15K+retailers

60team

5offices

Founded originally by retailers Nosto has developed into a complete personalization solution.

Today trusted by over 15,000 retailers in over 150 countries

A Team of 60 people with 20+ nationalities

Offices in New York, London, Stockholm, Berlin and Helsinki

SOME OF OUR

CLIENTS

Agenda 1. Evolved Customer Expectations

‣ Why and how do ecommerce professionals need to adapt?

2. A Proven Solution: Personalization

‣ Why and how does it work?

3. Exceeding Customer Expectations

‣ Using the ACRO model to increase CLTV• Attract• Convert• Retain• Optimize

‣ Best Practice examples

4. Q&A

Evolved Customer Expectations

‣ Why and how do ecommerce professionals need to adapt?

Purchase pathways can be extremely complex

We live in a super-connected multi-device

world, driven by mobile devices…

of people accessing the Internet globally use

more than one device

70%

Customers don’t think about channels42%

43%20%

Research online, purchase offline

Check prices online while in store

Of online purchases are picked up in store

43%

44%71%

Would be encouraged to make a purchase after seeingan item on social media

Feel social media is a good source for product reviews and recommendations

Read peer reviews and recommendations

Customers don’t think about channels42%

43%20%

Research online, purchase offline

Check prices online while in store

Of online purchases are picked up in store

Personalization is not fully

understood by those who would

benefit most from using it.

Personalization is becoming expected,at all touchpoints43%

42%42%

Choice was influenced by personalized recommendations/ promotions/deals

Expect to receive real time personalized product recommendations and promotions

Want to receive tailored discount codes based on previous purchases

A proven solution: Personalization

‣ Why and how does it work?

OTHERCHANNELSCS / CRM / ERP / ESP

SOCIALMEDIA

FB / PINTEREST / TWITTER

ONLINE STORE

SEARCH ENGINES

BRICK & MORTAR

3rd PARTYSITES

How does it work?EMAILS

APPS

DESKTOP / TABLET / SMARTPHONE POS / CRM / ERP / IOT

MOBILE / GAMES / TV

GOOGLE / YAHOO / BING

BLOGS / MEDIA SITES

TRIGGERED / NEWSLETTERS

How do you do that?


SOCIALMEDIA


ONLINE STORE

SEARCH ENGINES

BRICK & MORTAR

3rd PARTYSITES

Analyzing all touchpointsEMAILS

APPS


MOBILE / GAMES / TV


BLOGS / MEDIA SITES



SOCIALMEDIA


ONLINE STORE

SEARCH ENGINES

BRICK & MORTAR

3rd PARTYSITES

EMAILS

APPS


MOBILE / GAMES / TV


BLOGS / MEDIA SITES


Analyzing limited touchpoints


SOCIALMEDIA


ONLINE STORE

SEARCH ENGINES

BRICK & MORTAR

3rd PARTYSITES

Analyzing all touchpointsEMAILS

APPS


MOBILE / GAMES / TV


BLOGS / MEDIA SITES


Exceeding Customer Expectations‣ Using the ACRO model to increase CLTV

‣ Best Practice examples


SOCIALMEDIA


ONLINE STORE

SEARCH ENGINES

BRICK & MORTAR

3rd PARTYSITES


APPS


MOBILE / GAMES / TV


BLOGS / MEDIA SITES


How do you do that?

The ACRO model

‣ Prospecting Facebook ads

AttractDrive qualified traffic to

your store.

Attract

‣Display prospecting Facebook ad campaigns to a predefined demographic based on interests that match that of your business.

‣ Target potential customers with highly similar profiles to those of your current customer base.

Did you know?On average, automated, dynamic

product ads generate performance improvements of more than

400%

How?

compared to static ads

Eton‣ Display best sellers to prospects.

As the items with the highest proven conversion rate these are the ones most likely to cut through the noise.

‣ Target lookalike audiences, those similar to their current customerbase, to attract shoppers who are more likely to convert.

‣ Display real-time ads that are dynamically optimized according to current behavior and interactions - reflecting trends as and when they happen.

The ACRO model



your store.

Convert Inspire visitors with

highly relevant products and promotions.

‣ Personalized re-engagement ads‣ Product recommendations incl.

personalized, best seller, search.‣ Behavioral Pop-ups‣ Personalized emails‣ Email personalization widgets

‣ Display onsite Product Recommendations to guide customers to the most relevant products based on their unique user behaviour.

‣ Engage your customers in social media by recommending products picked just for them based on their previous shopping behavior.

‣ Enable behavioral pop-ups to reduce site abandonment and create a sense of urgency with time-limited special offers and one-time discounts.

‣Personalize your email marketing efforts to speak to each customer individually

Did you know?Personalization can increase conversion on average by

65%

How?

Convert

Zalando‣ Visually enticing

‣ Fully personalized based on the individual customer’s tastes

‣ Self learning; it places more weight on items, brands and styles liked in the underlying algorithms

‣ Ensures that currently hot items are always displayed

Eton‣ Mastering the art of cross-selling

‣ Offering brick-and-mortar level customer service

‣Offering both alternative and complementary items to increase AOV & generate happy customers that find what they are looking for.

How?

Convert

‣ Display onsite Product Recommendations to guide customers to the most relevant products based on their unique user behaviour.





65%

Yumi Kim‣ Displaying personal

re-engagement ads to cut through the noise

‣ Places more weight on items that have been shown most interest in by the individual customer

‣ Targeting a specific audience to maximise ROAS

How?‣ Display onsite Product Recommendations to guide customers to

the most relevant products based on their unique user behaviour.





65%

Convert

Geggamoja‣ Increases the likelihood of a

purchase by offering a time-limited discount

‣ Delights new customers

‣ Allows for re-marketing at a later stage

How?‣ Display onsite Product Recommendations to guide customers to

the most relevant products based on their unique user behaviour.





65%

Convert

Golf Discount‣ Sends out a personalized

newsletter ensuring each recipient is met with the most relevant items.

‣Promotes right products to the right audience

Produce loyal customers and inspire repeat

(return) visits to your store.

Retain

‣ Order follow-up email‣ Abandoned cart email

‣ We miss you email

The ACRO model



your store.





How?‣ Set up automatic follow-up emails which include items

relevant to those items previously purchased ‣ Allow customers to conveniently continue shopping

where they left off by sending out abandoned cart emails

‣Give customers a reason to come back by automatically sending customers who haven’t visited your store for a while a ”We Miss You” email

Did you know?personalized triggered emails have an

average click-through rate

10xhigher than the industry standard.

Retain


related and relevant to items previously purchased ‣ Allow customers to conveniently continue shopping






Retain

Organic Surge‣Visually enticing and easy to read

also on mobile

‣Fully personalized based on the customer’s previous shopping behavior

‣Recommending items the customer has shown an interest in previously

‣Displays items that go well together with items already purchased


related and relevant to items previously purchased ‣Allow customers to conveniently continue shopping






Retain

Melvin & Hamilton‣ Offers a convenient way back to

the online store

‣ Reminds customers of interesting items left in their cart

‣ Recommends other interesting items based on the shopping behavior of the individual customer as well

Retain


related and relevant to items previously purchased ‣Allow customers to conveniently continue shopping






Melvin & Hamilton‣Reach back out to customers if

they haven’t been online in 90 days

‣Offer items the customer has showed the most interest in, or pieces relevant to these

‣Display currently popular items, enticing the customer to discover more styles.



Retain





your store.



The ACRO model

Continually improve performance.

Optimize

‣ Analyse your KPIs ‣ Conduct split tests‣ In-depth analytics

tools



How?‣ Continuously analyse your KPIs ‣ Conduct split tests‣ Use in-depth analytics and reporting tools

to improve your performance

Optimize



Retain





your store.



The ACRO model

Continually improve performance.

Optimize

‣ Analyse your KPIs ‣ Conduct split tests‣ In-depth analytics

tools



Congrats! You should now

Understand the power behind personalization

Understand why personalization is a holistic long-term strategy that is a necessity to drive a successful ecommerce business

Know how to use personalization to attract, convert and retain ideal customers to generate an effective return on your marketing spend

Be able to exceed customer expectations and increase your CLTV

Nosto provides marketers and ecommerce professionals with a

complete personalization solution.

nosto.com I [email protected]

http://nosto.com/



SOCIALMEDIA


ONLINE STORE

SEARCH ENGINES

BRICK & MORTAR

3rd PARTYSITES


APPS


MOBILE / GAMES / TV


BLOGS / MEDIA SITES


How do you do that?

Thank you!

[email protected]


exceeding customer expectations with personalization

Marketing