Our client is a Canadian based national electronics retailer with more than 4 million customers signed up to receive weekly e-flyers.
Although the retail chain was successful with nearly 200 physical stores, strong competition from Amazon created cause for concern. Amazon’s personalized shopping experience, which started as disruptive technology, was now a market standard. The pressure to not lose sales opportunities was a pain point for our client.
Personalization was the clear solution.
We provided a strategic direction that included a precise 2-year personalized marketing plan with dynamic customer profiling and a detailed roadmap to reach their goals.
It was a comprehensive solution that was comprised of an integrated assembly of personalized offers that were automated or trigger-based and sent to their subscribers.
This included omni-channel tracking of real-time behaviour, as well as a recommendation engine.
Better customer engagement meant more opportunities to sell. And insights from the data provided better, more relevant content to their customers.
One insight was based on the frequency of visits by customers. Unlike grocery shoppers, customers don’t typically buy a TV every week. Using online behavioural data provided a big advantage.
We built an algorithm that tracked what products customers were clicking on in real time. We could use that information the following week to retarget them with personalized content in a customized section of the e-newsletter.
It was based on the simple insight that a shopper’s browsing habits are indicators of their likes and preferences. So any content delivered should be relevant. We offered the five most relevant products based on the online browsing behaviour.
The resulting information was captured in real time. The sophistication was such that if a customer clicked on a laptop on Monday and ended up buying it on Thursday, the Friday e-newsletter would not feature that product. We were able to reduce buyer regret.
The speed to market was the big win. We delivered this project within 3 months.
Our expertise in data science was also key to defining the customer segmentation. And the result was clear: Customers who received personalized product recommendations converted faster than groups with standard product offers.
While engagement was increased and created more conversions, we also had the benefit of a better understanding of the customer’s interests. This set up the foundation for an strong, ongoing relationship.