What are “Personalized” Offers?
There is a lot of buzz about personalized offers and 1 to 1 marketing but what does it mean? Many platforms equate “personalized offers” to showing the TPRs that are available for a product the customer already buys but to be effective personalization needs to move the needle. That means looking at customer behaviors and mapping them against other shopper activity and filling in gaps. Some great practices in personalization are:
- Look at what is MISSING! If the shopper is only spending 1% on Health and Beauty their limited purchases can indicate interest in scent free, organic, or other indicators of interest. The shopper may not be aware that you have a line of scent free products, from shampoo to laundry detergents and offering up those products may pull more of their spend to your store.
- Store Brands. Make sure that your online provider allows you to map your brands to CPG so when a shopper buys the national brand you present them with a compelling offer to try your brand. Many times the customer is just in the habit of buying the same products but would be open to trying another with the right incentive. Some retailers even include the store brand product along with the national brand in the online order to allow a comparison of quality AND price.
- Leverage digital coupons. Many offers are available that don’t have a cost to the store. Use these coupons and TPRs to remind your shoppers that you know what they buy and you are looking out for ways to help them save. Emails with three items on TPR and with coupons may be very compelling, getting you an extra shopping trip and the opportunity to introduce the shopper to new products with their savings.