Mastering Personalization & Omnichannel communication: Unleashing eCommerce Success

[articol partener] One of the most essential tools to unlock ecommerce potential is by using personalization & omnichannel communication. These advancements, powered by artificial intelligence, are helping eCommerce shops all around the world increase conversion rates, average order values, and customer loyalty. Let’s explore why you should implement personalization and omnichannel brand communication into your eCommerce strategy to grow your business and achieve impressive results.

In today’s fast-paced world, the eCommerce industry has become an integral part of our daily lives. There are hundreds of online stores and brands offering a wide range of products. However, it’s essential to recognize that a substantial portion of eCommerce future success and revenue are currently locked up due to various user-related issues. The overwhelming variety of options often leads users to lose track of what they would like to buy, receive irrelevant newsletters and experience frustration when they are reminded about abandoned shopping carts that they have already purchased.

Did you know that in Romania, the eCommerce turnover exceeds five and a half billion USD? This signifies a potential of over 2 billion USD that remains untapped. The question is, how can you unlock this potential?

Personalized Product Recommendations

Personalized product recommendations stand as a cornerstone of online shopping and can significantly influence a brand’s success. Many brands fall short when it comes to providing the same level of personalization that customers experience in brick-and-mortar stores. This results in users struggling to quickly find the products they need, complete purchases using their preferred payment methods, or receive notifications about deals and replenishments.

All of this is causing those brands not only to lose money but also customers. According to the data provided by recent studies*, Georgi Georgiev, Releva’s CEO, calculated that approximately $30 billion of the sales in the Balkans market are not recoverable, which is close to the entire eCommerce market of Turkey. Those studies show that 93% of consumers expect the online shopping experience to be at least equal to, if not better, than in-store. Additionally, 71% of consumers expect personalized interactions, and 76% get frustrated when this doesn’t happen. On the other hand, 80% of business leaders say customers spend 34% more, on average, when offered personalized shopping experiences. 

As a result of these statistics, it is clear that personalized product recommendations are a crucial element of the online shopping experience. Their benefits extend beyond just convenience; they also allow eCommerce businesses to build stronger relationships with their customers. By demonstrating an understanding of customers’ needs and preferences, businesses can establish trust and foster a sense of loyalty, ultimately leading to a lot of purchases and increased customer lifetime value. Targeting each specific customer with relevant products enhances the chances of conversion and promises higher ROI.

Marketing Automation

Another critical component for success in the eCommerce industry is marketing automation tools. Marketing automation involves the use of software tools to automate repetitive marketing tasks, such as sending emails, posting on social media, and tracking customer interactions. By automating these tasks, eCommerce businesses can save time, boost efficiency, and enhance the accuracy of their marketing campaigns.

A significant advantage of marketing automation is its potential to improve the customer experience. By automating personalized messages, shops can deliver the right message to the right customer at the right time. This will result in increased engagement, customer loyalty, and ultimately, higher sales.

The benefits for eCommerce shops do not end here. eCommerce shops can also benefit from marketing automation by improving their customer experience, scaling their marketing efforts, and helping businesses meet the evolving needs of their customers in today’s growing eCommerce industry.

In essence, marketing automation is a game-changer for businesses looking to stay competitive and thrive in the market.

Omnichannel Communication

Personalized marketing is no longer limited to just shopping experiences. Customers now expect to be engaged in a personalized way through their preferred channels of communication. This is why eCommerce businesses must adopt an omnichannel approach to better engage their customers. 

Omnichannel engagement revolves around providing a seamless and consistent experience across all channels, including email, social media, SMS, and more. Implementing an omnichannel communication strategy allows eCommerce businesses to create a cohesive and integrated marketing experience for their customers. One of the primary benefits of such an approach is improved customer satisfaction, which, in turn, leads to increased loyalty and higher customer lifetime value.

However, one of the common problems in the industry is that eCommerce shops often use different sets of tools for website/app personalization, email, SMS, messengers (Viber, WhatsApp), social ads, search ads, programmatic (media) ads, payment tools, etc. At their best, these tools collect partial data, miss context, and need a lot of technical care and therefore money to integrate and support. As a result many unpleasant use cases occur that frustrate and confuse users. Such as receiving Facebook ads after browsing for kids’ clothes with offers for 6 year old dresses (brand’s bestsellers) but you have a 2 years old boy. Or users being targeted with recommendations for home furniture items that they’ve already bought.

The world of eCommerce has transformed the way we shop, and with fierce competition, businesses need to scale their game to attract and retain customers. Providing personalized product recommendations, using marketing automation tools, and personalized omnichannel communication are three effective ways to achieve magnificent results and grow your eCommerce business to success.

Introducing Releva

One of the solutions that seamlessly combines all these essential features is Releva. 

Releva is an award-winning deep-tech personalization solution that gives you the tools you need to forecast and predictably grow your business. The company provides the marketing automation platform that personalizes the website and every touch point of your users across the multichannel with the main goal to increase your conversion rates, average order values, customer lifetime values and leads to revenue growth with an amazing ROI.

Releva’s secret weapon is Lucy, a statistical model similar to ChatGPT. Lucy captures data about a user’s entire journey to provide relevant product recommendations for each individual user. The platform acts as a digital marketing assistant, offering advanced AI technology that comprehends user’s unique preferences, including their preferred communication channels (email, SMS, Viber, WhatsApp, Facebook, Google ads), optimal days and times for messaging, and the type of messaging that resonates with their personality.

The company delivers impressive results, including saving clients 8+ hours per week on repetitive marketing tasks, achieving a remarkable +40% average revenue boost for ideal customer profiles, a remarkable +50x ROI, and doubling purchases from Facebook and Instagram traffic. Additionally, Releva’s approach doubles email retargeting revenue and significantly reduces Facebook and Google ad retargeting costs while maintaining top-notch delivery rates and pricing.

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Autor: Georgi Georgev, CEO and co-founder of Releva

CEO and co-founder of Releva. Georgi is a senior product and technical leader with more than 20 years of experience in product strategy, software engineering, big data, and machine learning. He has built successful AI & Data platforms that are used by millions of users. Georgiev holds a PhD from Sofia University and a Global Executive MBA from the Instituto de Empresa (the IE).

Currently, Georgi is the CEO at Releva, an innovative startup developing an AI-powered platform dedicated to improving customer journeys and achieving eCommerce growth.

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