Personalization. The New Normal for Marketers. Popular Today in Business: All Popular Articles.
Big Data and the Quest for Mass Personalization. Every once in a while, technology still manages to surprise me.
Just minutes after finishing my Yahoo YHOO -1.37% Yahoo! Inc. U.S.: Nasdaq $35.65 -0.49 -1.37% April 23, 2014 10:35 am Volume (Delayed 15m) : 5.24M P/E Ratio 29.39 Market Cap $36.60 Billion Dividend Yield N/A Rev. per Employee $383,012 04/22/14 Cloud Photo Storage: The Best ... 04/22/14 Capital Group Cuts Stake in So... 04/21/14 New York's Supreme Court Hosts... More quote details and news » YHOO in Your Value Your Change Short position -sponsored fantasy football draft last week, the Web giant sent me a very personal e-mail. It turns out that my team, TommyJohn, is the oldest in the 10-team league I share with friends.
If fantasy football sounds trivial, here's where it gets more meaningful: The report cards are a product of Big Data, the much-hyped but obscure concept dominating conversations in Silicon Valley. Mobile Improves Customer Loyalty And Personalization. Approximately half (46%) of retailers have a mobile strategy in place and see increased loyalty and personalization, not transactions, as the primary payoffs, according to a recent study from EPiServer.
Only 22% of respondents said mobile transactions accounted for more than 20% of sales, and only 8% of the more than 100 organizations surveyed said they use mobile to boost transactions. Of the retailers planning to implement a mobile strategy in the next 12 months, 74% will target improved customer loyalty and/or more personalized experiences for consumers. Currently, approximately one third (32%) of mobile implementations primarily address loyalty, and 14% target personalization. “Retailers are using mobile as a way to differentiate themselves through convenience and brand loyalty,” said Bob Egner, VP of Product Management at EPiServer. “We see that retailers are still not completely sold on the ROI of a mobile strategy that focuses on mobile transactions. WunWun’s Brilliant Take On Instant Delivery Makes Brands Pay The Fee. Bringing the instant gratification of the Internet to physical deliveries isn’t cheap.
Ebay Now charges $5 for each delivery. Amazon same-day delivery starts at about $10. And startups that deliver, like Postmates and TaskRabbit, charge various fees. Starting today, however, a startup called WunWun plans to make instant deliveries for free. Instead of charging customers for their delivery, WunWun will charge brands for their users’ business. On-demand delivery systems finding their footing. We want it now, if not sooner.
Ours is a time in which consumers increasingly demand instant gratification, and, as usual, tech companies foresaw the need long before it became apparent to anyone else. Whether they want a late-night pint of Ben & Jerry’s Chunky Monkey or a portable hammock, tech-enabled consumers now can, on a whim, not only make purchases, but also have them speedily delivered (often within the hour), thanks to on-demand businesses like WunWun, eBay Now, and Google Shopping Express. Customer service changes rapidly, but for the better? By Dave BurdickThe Denver Post Posted: 09/16/2013 12:01:00 AM MDT|Updated: 7 months ago.
emlab.berkeley.edu/users/rabin/jbdmfinal.pdf. The growing culture of impatience, where instant gratification makes us crave more instant gratification. The #1 Thing That Creates Loyal Customers. It would almost seem comical to limit something as important as customer loyalty to a single defining factor.
It would seem even more ludicrous to claim that there is "1 defining thing" that creates superstar customers who become self-appointed advocates for your brand. It would seem comical: but that's before you consider the research on the matter that definitively says there is ONE essential element to creating loyal customers. The Psychology of Personalization: How Waiters Increased Tips by 23 Percent (Without Changing Service) When it comes to effective customer service, small changes can have a big impact.
One of the most critical periods of the process is the follow-up after purchase: making your customer feel like they've made the right choice as soon as they've bought from you goes a long way to developing your relationship with them. In this regard, we have a lot to learn from a service position that you might not expect: waiters and waitresses. Not only do they interact directly with the customer, research has found that their "follow up" (post purchase) actions can greatly effect the customer's perception of their service, and accordingly, the tip that they leave them.
The Power of ... Loyalty: is it really working for you?