Spotlight on Personalization: Segmentation – A Building Block to Personalization Success
During our Personalisation Summit in London on October 13th, I shared a recent experience with the audience. As a health and fitness enthusiast who is experienced in the competitive world of bodybuilding, I was asked by a friend to help source a product to augment her diet as one of many avenues of achieving a personal goal she’d established.
Her interest was in protein shakes but included specific requirements such as being RTD (ready to go) for convenience and having a macronutrient profile that consisted of very low carbs and fats.
In consideration of suggestions that I’d share with her, I was cognizant of the importance of preference rather than influence alone. I was the influencer in this experience, which does have heavy weighting seeing that she entrusted my help. But to deliver a valuable suggestion, my influence needed to be accompanied by an evaluation of her specific preferences.
Did my suggestion help? I’m happy to say it did and the product has become a staple grocery list item even though she’s reached her goal.
In comparison, from a retailer’s perspective, the delivered campaign or onsite experience is the core influencer.
Consider this: Without segmentation, does your website drive the same personalised, targeted, and unique experience that would grab the visitor’s attention and reel in conversion from the start?
Of course, segmentation is not applicable for all experiences, but high consideration and review should be given to identified high-value personas.
Segmentation in Action: The Story of Bulk™
As shared with the London audience, Monetate client Bulk™ has done this using Monetate Personalisation to target social media followers who engage with the site via brand ambassador awareness.
Using a range of Monetate products and functionality, the Bulk™ team created and delivered an end-to-end personalised experience tailored to Instagram followers of brand ambassador Alex Crockford.
The Bulk™ website delivers an effective example of segmented personalisation across multiple touchpoints of the user journey which includes:
- Engagement starting via a unique click-through from Alex’s Instagram page to a bespoke landing page featuring a Monetate hero banner image and a purchase offering.
- A Monetate onboarded recommendation dataset consisting of Alex’s Favourite products, which visitors can easily explore by navigating to designated product pages.
- A custom page displaying all products referenced in Alex’s blog posts.
- Monetate badging on product listing and product detail pages to further highlight Alex’s choices, product discounts and free shipping.
- Monetate served basket qualification banner as a reminder of the discount code, free shipping, and spend threshold.
As a result, Bulk™ has successfully increased engagement and created brand awareness.
Segmentation in Action: The 4 Vs of Prioritisation
As demonstrated through my personal example and the story of Bulk™, segmentation and targeting can be successful tools for meeting high expectations of customers from digital online retail and gaining a competitive advantage by tailoring to known customer preferences.
Identifying strategies to increase conversion and decrease time to conversion is key to establishing and retaining a loyal customer base of both new and returning visitors.
Assess your digital campaigns based on your customers’ point of view:
Are you satisfied with broad audience experiences?
Or would you be more interested in delivering a targeted experience that reduces or eliminates enervated searching targeting a specific data-driven segment with a high likelihood of interest in your content or in a product as the most effective route?
So, where can you start? By actioning the 4 V’s of Segmentation Prioritisation:
- Visibility – Identification of your target audience and customer personas. Can you identify and target high-value segments?
- Volume – Analysis of demand and potential for reward. What is the size of the segment?
- Value – Analyse potential profitability. Do you understand the costs of establishing and maintaining customer relationships? Have you established primary and secondary KPIs?
- Validation – Take action towards identifying and enabling the tailored experience. Have you mapped out the ideal journey across your website for the targeted audience?
In addition to easily integrating CRM targets into Monetate Personalisation, Monetate offers 150+ out-of-the-box targets to help retailers successfully tackle the first step ‘visibility’ and kick start progress through the 4 V’s. Monetate’s out-of-the-box targets span across the following categories:
- Audience Discovery
Ready to learn more about how Monetate can help support your customer segmentation strategy? Schedule a demo with a member of the Monetate team to see how the solution works and can fit into your customer journey.