New Amazon research reveals that customers want to be curated to and have offers that are bespoke to them.
The study by Amazon Pay found that over three-quarters of consumers will only engage with offers that are personalised and 90 per cent will only consider action if they trust the brand it comes from.
In the light of these findings and in the age of the connected customer Amazon recommends taking what it calls a ‘forward-leaning’ approach to marketing. This means focusing on the end problem a customer has and then working backwards to create a solution that is customer-centric and relevant to that particular customer at that particular time. In some cases, this can be as simple as understanding what the customer needs or wants to buy.
For instance at insurance renewal time serving a customer with relevant content to assist them with their purchasing decision, such as explaining how telematics could reduce their premium. For retail brands, it might be using birth date to trigger a birthday offer specific to that individual, or for travel companies sending destination recommendations based on a customer’s previous holidays and travel aspirations.
Ultimately what is crucial in today’s hyper-competitive landscape is differentiating the offering by creating a personalised customer engagement experience. Today’s consumers are more discerning than ever and the brands that recognise this and are able to treat each customer as an individual are outperforming rivals that take a more homogenous approach to customer service.
Data is the lifeblood of the forward-leaning approach, but data alone is not enough, particularly in a post-GDPR environment. The pumping heart is the application of the data underpinned by the empathy and expertise to create meaningful one-on-one connections with customers.