Fashion communicates through multiple facets and to make its reach empowering and deep-rooted, it taps into emotional content and leveraging of the product data. Even after so much of advancements, there still remains a challenge- how to communicate the fit and feel of each product and understand each customer’s emotional context as they shop.
An in-depth prediction of a customer’s preferences and self-perception is possible with the help of machine-learning technology. The rapid acceleration of retail towards digital experiences over physical brings an opportunity for retailers to harness product and consumer data for personalization of the experience and deeply individualize it. Tailoring a brand’s offerings and communications to individuals can improve customer retention and increase conversions dramatically.
One of the other personalized marketing strategies is used by every brand in existence today which includes customized subject lines or customer names in emails. Besides basic personalization, brands are learning to evolve how they use personalization in order to stand out and boost ROI.
Hyper-personalization is the latest buzz in customer-facing marketing, which goes a step beyond and takes into account a customer’s data in real-time; by using big data sets and AI logarithms.
Hyper-personalized experiences such as contextualized messages directed at specific individuals at the right time and on the best channel; is made possible through AI, data, analytics, and automation.
Brands like Amazon and Spotify are excellent examples of companies using hyper-personalization to its full potential.
Why and how does it matter?
As it meets customer expectations, so it simply does matter.
The latest research states that just 22% of customers are satisfied with the level of personalization they receive from the brands they buy from.
So you see, there is still so much that can be done by fashion brands.
A happy customer is more likely to return and also spread good word of mouth and give good reviews. Hyper-personalization not just helps boost sales but also lets brands figure out the desires of their customers even before the customers realize their desires themselves.
Heard of impulse purchases? This is where it comes into action and increases sales further leading to higher revenue.
Advanced personalization used by brands helps increase the marketing ROI and slashes customer acquisition costs in half.
This is how a brand can hyper-personalize through the various areas of their customers’ journey:
- Websites with personalized homepages, ‘complete the look’, and ‘visually similar’ prompts. Personalized product ranking and visual search and fashion chatbot are best ways to connect with customers.
- Loyalty programs need to be improved by tailoring their recommendations and rewards according to each customer.
- Retargeting and promotional campaigns shall include offering every shopper access to exclusive styling services.
- Social media can provide tailored brand experiences and what’s better than AI-powered chatbots? These fashion chatbots help brands stay in touch with their customers before, during, and even after a sale. These chatbots help facilitate direct sales by taking pre-orders and reserving items for collection in-store.
- With the prevalence of e-commerce websites, customers’ expectations from physical stores have also increased. They want more intuitive and tailored experiences at a walk-in store. Smart mirrors can be helpful in achieving hyper-personalization at such stores.
Latest studies reveal that only about one in two organizations use advanced personalization at present. This is indeed surprising given the fact that hyper-personalization is not rocket science and is so much beneficial for brands. You just need to find the right partner to deliver them.
Fashion, after all, doesn't just need to survive but thrive!