Cross-channel, customer-centric marketing (AKA personalized marketing), the practice of tailoring offers and promotions to consumers across multiple touch points based on their past shopping or browsing experiences, appears to increase buyer readiness, engagement, and sales activity, according to a study by MyBuys and the e-tailing group.
Among more than 1,100 consumers surveyed: 40% said they buy more from retailers that personalize their shopping experience across channels, 41% said they buy more from retailers that send them personalized emails, and 39% said they buy more from retailers that personalize Web recommendations.
Those findings are reinforced by sales data from MyBuys' database of some 250 million shoppers: Customer-centric marketing delivers a 25% increase in total online sales and a 300% improvement in customer lifetime value, according to the company.
Below, additional findings from the report titled "Engage Consumers & Increase Buyer Readiness Through Customer-Centric Marketing," based on a survey conducted by the e-tailing group for MyBuys.
Tactics That Drive Purchasing
Among consumers surveyed, key drivers of "buyer readiness" are finding the right product (67%) at the right price (55%).
However, personalized promotional emails (57%) and personalized online advertising (35%) are top tactics for prompting consumers to purchase: