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BizReport : Ecommerce archives : June 14, 2019

Study: Personalization key for conversions

Relevance may top price and even loyalty status. That is a key takeaway from Avoinos' Consumer Expectations in 2019. Their researchers found that, when all other factors are equal, personalization - i.e. relevance - is what prompts them to buy.

by Kristina Knight

In fact, more than three-quarters (78%) of those surveyed reported that personalization was key for their purchase decisions. What other factors can influence a purchase? Researchers found that most (71%) consumers are looking for seamless online-to-offline experiences are key and that just over half (63%) of consumers will share personal information if it makes a better overall experience.

"It's about relevant experiences and the consumer gets to decide what's relevant - not brands," said Scott Webb, CEO of Avionos. "The cost of being generic is that brands lose that loyalty forever. Expectations have risen to the point where consumers have a right to demand relevant, first-time experiences with the brands that they choose to do business with. If brands don't deliver on that, consumers have enough options that they'll take their loyalty and money elsewhere. And there is no returning from that."

What isn't helping merchants and marketers connect? The study noted that a single bad experience, be that online or in-store, can cause consumers to avoid a brand (73%), and that device recognition is also important from a consumer standpoint. In fact, two-thirds (69%) of consumers say brands "need to know" what their device preference - laptop, tablet, smartphone - is, and for younger consumers even moreso. More than 80% of Gen Z shoppers say brands need to know their device preference to engage.

"Today's commerce experience is multi-dimensional, and requires retailers to be thinking about how they can inspire innovation beyond just the next new tech trend," said Dan Neiweem, co-founder and principal at Avionos. "They need to be thinking about how they can leverage data and derive insights that enable them to build relationships with their customers and create a seamless purchasing journey across all shoppable touch points, both in physical and digital spaces. Understanding what consumers want, retailers can start asking why, and form their strategies that build customer loyalty."

More Avionos data can be access here.

Tags: advertising, Avionos, ecommerce, ecommerce advertising, ecommerce personalization, loyalty marketing, mobile marketing

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