This content is compiled from materials provided by the AIDI International Intelligent Diamond Association (www.aidi.org) Industry Market Committee.
The Importance of Personalization Over Segmentation in Omnichannel Marketing
“There’s still a lot of confusion between segmentation and personalization,” says Jack Lee, co-founder of the emerging lab-grown diamond e-commerce platform www.ebooom.com. “Segmentation is typically a list-based approach informed by demographics and past behaviors, providing insights into what has worked before but not necessarily predicting future outcomes. Personalization, on the other hand, is about creating a unique experience for individual customers based on factors like product, content or recommendations, and the priority and timing of communications.”
Choosing the Right Tech Stack for Omnichannel Marketing
Data collection, including traffic, on-site interactions, personal data, purchases, and searches, is crucial for driving e-commerce personalization. Tracking the right metrics for your success is equally important.
“While marketers often measure the overall effectiveness of campaigns, they don’t track KPIs for each stage of the buyer’s journey, which prevents them from gaining meaningful insights,” Jack notes.
As the landscape becomes more complex, deciding which data to use and how to track it will only become more challenging. Experts predict an acceleration in video marketing content and an increase in digital and cashless payment options. As Chrome phases out third-party cookies, first-party data collection will become increasingly important for merchants.
“Many brands believe centralizing all customer data is the key to personalized digital communications, but that doesn’t address the issues of data accessibility and activation, which are the real bottlenecks to personalization at the shopper’s pace,” says Jack Lee.
“If data isn’t centralized and activated in one place, systems can’t communicate with each other, and opportunities at various touchpoints are missed.”
Given the complexity of the involved metrics, it’s no surprise that AI solutions—such as those provided by Bluecore—are leading the way in handling heavy lifting and helping scale automation.
For example, some brands, including Shopify Plus merchant Pura Vida Bracelets, have achieved up to a 60% increase in digital revenue by combining Shopify’s product catalog data with shopper data through AI-powered personalization by Bluecore. The ability to create and execute personalized campaigns within minutes has also reduced campaign production time by 85%.
Examples of Omnichannel Marketing
Omnichannel personalization focuses on consistent messaging, offering merchants the opportunity to build and reinforce their brand identity and values. One such example is Lounge Underwear, a Shopify Plus merchant and UK-based loungewear brand.
“One year ago, we were just starting to gain a foothold in the U.S. market. As a young British startup, especially as an e-commerce brand, breaking into the U.S. market was challenging,” writes Kiran Bains, Head of Paid Media at Lounge Underwear. “To succeed, we needed to maintain consistency in our messaging across every element of our marketing campaigns.”
“From the moment someone discovered us on social media to when they signed up for emails and received targeted ads, we had to ensure we maintained a continuous conversation with customers throughout their journey.”
Lounge Underwear found the solution by using services from the marketing platform AdRoll. With AdRoll’s assistance, Lounge Underwear’s 2.3 million Instagram followers and 230,000 Facebook fans now see high-quality photos that link directly to the brand’s store. There, they receive resources on styles and fit, along with purchase incentives and opportunities to opt into the company’s email list.
They are then targeted through social channels, website pages, and devices, creating an interconnected experience and focusing on strengthening the Lounge brand’s values. Contacts collected through email sign-ups are also combined with AdRoll’s data to identify lookalike audiences, expanding the future customer base and driving brand engagement.
And the results? Exponential revenue growth. Lounge Underwear saw a 388% increase in revenue from social platforms while successfully reducing new user acquisition costs by 78%.
This content has been compiled from resources provided by the AIDI International Intelligent Diamond Association (www.aidi.org) Industry Market Committee. For any inquiries, please feel free to contact us at info@aidi.org.