How to Sell-In a Web Personalization Strategy to Your Org
Have you ever been frustrated by failed attempts by you to get your company to update its practices or try something new? Most of us have been there at some point: you just “know” that new tool or strategy is going to move the needle by driving sales or helping your team do more with less or whatever your goal is, but you have trouble getting the necessary buy-in from the decision makers and check writers elsewhere in the org. A great example that we see all the time is organizations looking to integrate conversational commerce and/or web personalization strategy into their operations.
Nervous about how to get the deal done at your company? Read on: we’re about to help you level-up your game.
Getting Buy-In For Your Web Personalization Strategy
Every organization has a different set of priorities that they’re working on at any given time, but the universal constant has got to be revenue targeting and generation. Even not-for-profit organizations need cash flow to stay healthy and deliver value to whomever it is the organization serves. Website personalization is, by any measure, the fastest way to drive an immediate and sustained spike in revenue – we’ll go a bit deeper on that in a second, but let’s start with how to sell change.
When you’re trying to sell change, especially any shift in strategy, the critical thing to remember is that collectively everyone at the company is responsible in some capacity for helping the organization achieve its goals. Your leadership team are the main ones who are held accountable, and they are going to want to know two very crucial things before they’re likely to consider a change:
- What’s the return on our investment?
- Will this increase our profit margin?
Return on Investment
Fortunately, website personalization is a provably solid investment. Here are a few stats published by Forbes alongside some of Automat’s own aggregated client data that you can cite in building your case:
- Companies using advanced personalization report a $20 return for every $1 spent. – Clickz
- 95% of companies that saw 3x ROI from their personalization efforts increased profitability in the year after their personalization efforts. – Monetate
- 88% of U.S. marketers have seen measurable improvements due to personalization, with more than half reporting a lift greater than 10%. – Instapage
- Companies that exceed their revenue goals have a dedicated budget for personalization. 83% of the time. – Monetate
- Return on personalization spend exceeds 4 x return on ad spend – aggregate Automat client data
Anecdotally, our team just completed a quarterly business review with a new client who enjoyed an 1138% ROI in the first 90 days following their implementation. (We hope to publish a case study once the customer has been with us for a year or so.)
Increased Profit Margin
As for an increase to profit margin, that’s a slam dunk. Below, we’ve listed some stats that demonstrate some of significant ways that website personalization reduces your cost of sales, contributing directly to your organization’s bottom line. For example, converting a customer on their first visit means you will spend no further money on tactics like retargeting in order to acquire that visitor as a customer.
Anyway, here’s the list:
- Personalization can reduce customer acquisition costs by up to 50%. – Adweek
- Personalization can increase marketing spend efficiency by up to 30%. – Adweek
- Personalization drives 3x conversion on the first visit – aggregate Automat client data
- Personalization drives 2.5x conversion to sale of all traffic – aggregate Automat client data
Your mileage will vary based on the importance of each of the above to how your brand currently does business, but these stats will give you some direction from which you can derive your own projections.
A quick note on how all this personalization stuff works: Broadly speaking, the main success driver here is that you are reducing friction at every stage of the customer’s journey from the moment they land on your website by tailoring the visit to them. You are serving a buying experience that the visitor co-creates with the brand, which gives them confidence that they are being offered the solutions that are best suited to their needs. Website personalization, when implemented correctly, helps your customers to make decisions with certainty.
Still have questions? We’re fired up to help as many brands as possible to raise the bar of user and customer experience in eCommerce. If you need help implementing website engagement tools for your brand or want to talk further about any of the tactics in this article, we should talk ASAP!