4 Key Strategies for Out-Personalizing AmazonAug 22, 2017 - by Jason Grunberg
What do Walmart, Bed Bath & Beyond, and Amazon all have in common? They all attended our recent webinar on how to out-personalize Amazon. Yep, even Amazon was interested in the topic!
We’re sharing a few of the key strategies included in our presentation, which are covered below. If you missed out, you can find the recording and presentation slides here.
Strategy #1 – Go beyond collaborative filtering for recommendations.
Amazon made “others who bought this also bought that” style recommendations famous. While these types of personalized recommendations are ideal for increasing basket size and value for anonymous online browsers, in your cart interface, and in post-purchase streams, there is so much more that can go into your recommendations strategy. Retailers can beat Amazon at their own game by testing and selecting the use of algorithms that take into consideration popular or trending products, and those that personalize based on a customer’s specific interests and even predicted purchases.
Strategy #2 – Personalize beyond recommendations.
Personalization is so much more than recommendations. While Amazon spends a significant volume of resources developing personalization solutions for their merchants, you can out-personalize the ecommerce giant by personalizing multiple aspects of the customer experience, like email send time, the cadence in which you message, and promotional offers. Personalizing email send time is an easy win. With Sailthru, you can email your individual audience members at the time they are most likely to open the message based on their historic opens.
Strategy #3 – Think cross-channel, not siloed experiences.
Ensuring that your customer experience is joined up across channels for individuals is key to building the long-term relationships you need to stay competitive with retailers both large and small. While Amazon uses personalization in all channels, there are gaps that you can take advantage of. By creating an individualized journey for your unique consumers regardless of the channel they are engaging on, you’ll create a platform for ongoing growth through stronger customer retention.
Strategy #4 – Improve acquisition using long-term data.
The ultimate method for improving customer retention? Better acquisition. Not all CPAs are created equally, and we discuss why using your long-term retention data to improve acquisition campaigns is the key to long-term growth. Find out how Sailthru can help you predict your future highest value customers, and then build lookalike audiences in Facebook, Google, and additional acquisition platforms to fuel your customer acquisition programs.