Driving Loyalty With Programmatic Personalisation
With fierce competition rising from all corners, it is imperative for e-commerce players to market strategically to stay in the game
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Asia-Pacific is the world’s largest digital retail market and the fastest-growing e-commerce region globally. The swift growth of e-commerce in APAC over the past few years has turned the region into a highly competitive market. To put this into perspective, let us consider India, one of the region’s most dynamic, fast-growing markets.
In 2009, India’s e-commerce market was valued at $3.8 billion, which grew to $17 billion in 2014 and $23 billion in 2015. The Associated Chambers of Commerce of India predicts this number will touch a whopping $38 billion by the end of the year.
With fierce competition rising from all corners, it is imperative for e-commerce players to market strategically to stay in the game.
To retain customers, marketers must craft meaningful and relevant experiences for each individual. Personalised content can help in reactivating existing customers and growing customer lifetime value.
Programmatic advertising technologies such as real-time bidding and dynamic creative personalisation make it possible for marketers to deliver personalised media by using a combination of both historical and real-time data. Using programmatic display, personalisation strategies that have been developed for on-site or email personalisation can now be extended to reaching customers not only on owned media, but across the web — wherever customers are browsing online or on mobile.
To deliver personalised content, you need data. Today, marketers have many unique data assets — first-party data — such as website traffic activity, loyalty programme data, email marketing data, purchase records, revenue and yield management data, and more.
The beauty of first-party data is that it is proprietary; your customer data is your competitive advantage! When used in conjunction with real-time on-site behavioural data, marketers can deliver on-point recommendations that speak to each customer’s needs at a moment in time, in the channels or on the devices that customer prefers to browse on.
While personalised, relevant content is a critical element of any digital marketing strategy, an equally vital component is the ability to reach customers with these messages at the right time. Whether they are reading a Businessworld on a desktop or catching up on the latest gossip on the ScoopWhoop mobile app, the right programmatic partner should enable marketers to reach users across all connected touch-points, and to determine the best possible placements across those touch-points for each personalised impression to land.
In summary, in the year ahead, it will be imperative for APAC marketers to invest not only in acquisition but also in customer loyalty strategies. Programmatic technologies will enable brands to win loyalty through personalisation, and with greater budget efficiency, at scale.
The author is commercial director India, Sociomantic Labs
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