“There is only one boss. The customer. And they can fire everybody in the company from the chairperson on down, simply by spending their money somewhere else.” – Sam Walton
As a society, we have so many options when it comes to purchasing products. The marketplace is flooded. Even something as simple as a water bottle comes with a whole host of unique selling points, factors to consider, and a legion of loyal customers. With so much choice, standing out from the crowd has never been so vital to success. And, in-turn, maintaining customer loyalty is more important than ever. So, as marketers, what can we do to keep our customers interested? Customer experience is your very best friend!
A one-size-fits-all approach will no longer cut it for the modern consumer. Marketers need to be working towards personalization for their brand to succeed. A personalized approach adds to the overall customer experience your company provides. According to American Express, 33% of American customers say that just one instance of poor service can lead them to switch companies. One miscommunication or bad transaction could cost you your biggest customer! InMoment found that 50% of loyal customers have left a company for a more relevant competitor. This is where behavioral segmentation is changing customer experience overall.
“The only way to win at content marketing is for the reader to say, ‘This was written specifically for me.'”– Jamie Turner
Behavioral segmentation is changing the wants and needs of the modern-day buyer. But more importantly, it is changing how marketers should view customer experience. It should be considered an important part of the user journey. And, is integral to your marketing and wider business strategy. It works by splitting your audience based on the way they behave throughout their buyer journey. If you want to delve deeper into the whos, whats, and whys of behavioral targeting, explore Webeo:Futures here. We’re passionate about all things personalization — so if you’re looking to get to grips with what segmentation is, and the different ways to segment a market, it is a great place to start!
In short, there are a few different behavioral segmentation variables.
- Purchase behavior
- Timing-based behavior
- Usage rate segmentation
- Loyalty status marketing
- Benefits sought segmentation
Each one presents a way of positively impacting customer experience. Market segmentation means audiences receive tailored messaging and recommendations. Marketers can capitalize on well-timed communications, reward loyal customers, and emphasize the benefits that matter most to each customer. In turn, customers receive an experience that meets their needs as a buyer. And, they are guided through their journey towards making a purchase.
Buyers are no longer happy to be tarred with the same brush and expect a personalized service. Positive experiences matter to buyers, and they won’t settle for less! The Temkin Group found that 65% of buyers feel receiving a positive experience with a brand is more impactful than great advertising. Plus, 83% of buyers will pay more for a positive customer experience. This should be pushing marketers to assess where their priorities lie. And, not only does it draw customers in — it’s a crucial part of customer retention, too. HubSpot found that 93% of customers are likely to make a repeat purchase if a company offers excellent customer experience. The statistics speak for themselves!
Taking your customer’s digital behavior into consideration is pivotal in providing great customer experience. Think about the last time you bought something online. As a modern-day buyer, we crave efficiency. According to Accenture, 75% of customers are more likely to buy from a retailer that knows them by name. We’re willing to give away data if it makes our overall experience better. MarketingLand found that 60% of shoppers are happy for their interests and behaviors to be used by retailers to deliver relevant offers and expedite their experience. And, if we get a personalized experience, we’ll likely come back to you! Millennial brand loyalty increases by 28% through receiving personalized communications, according to Smarter HQ. This is important to consider for B2B organizations too, especially as millennials are fast moving into decision-making roles.
In a fast-paced, ever-evolving world, customers don’t have time for lazy marketing. Especially business customers! With so much quality data, software and options available, there is no excuse for generalized marketing in the now — or ever again! Behavioral marketing revolutionizes the way marketers think about their audience. And, it is a huge leap towards personalized marketing. Your website should be the hub of your business and point visitors towards converting. Website personalization is the icing on the cake and the future of online experiences!
Discover how website personalization can create the ultimate customer experience for your website visitors through site personalization! Our leading software tailors customer experiences based on IP address for the ultimate in personalized marketing. Discover Webeo and book a demonstration today!