Central Europe’s largest online store eMAG in 2014 reached 100 million page views per month and had more than 500 000 products - this amount of views and products called for an intelligent recommendation engine which is one of the most important part of a well-personalized e-store. The recommendations delivered by the engine Yusp built for eMAG contribute 2 million EUR / month to their sales. It generates 9 EUR per 1000 recommendations and implies 71 % more customer engagement.
Seeing similar examples, e-stores increasing their revenues with 8-12 %, online retail personalization can not be disregarded any more: in the recent years importance of personalization has got to the limelight in the strategy of both inhouse e-commerce marketers and digital agencies.Personalized web experiences - where they can be quantified and measured - imply 19 % higher sales figures says Monetate/eConsultancy report.
Customers’ attitudes have also changed a lot since Amazon and Netflix started to “tame” them to personalized experiences. Here is the list of the most important researches betraying how much customers can e-commerce sites lose if they underrate personalization.
-According to Janrain & Harris Interactive 74 % of website visitors get frustrated if the content is not relevant and falls out of their interests.
-CTR (ClickThrough rate) increases by 14% and conversion by 10% if the emails are personalized - states Aberdeen Market Intelligence Institute. Chadwick & Martin Bailey also examined e-mail marketing-targeted users why do they unsubscribe and they found that 56 % unsubscribe if the content is non-personalized or not relevant.
-A Hubspot research has recently illuminated the necessity of personalized CTAs (calling to actions). In its 1-year long study Hubspot examined 93000 calls-to-action and millions of page views, and realized that personalized CTAs convert 202 % better than generalized ones.