It’s becoming harder for merchants to stand out in the digital commerce world. Consumers have more options than ever before and are willing to go elsewhere if they aren’t satisfied with a given merchant’s consumer experience. Merchants can no longer afford to bank on brand loyalty to attract consumers to their online store.
This can be a troubling trend for a lot of these merchants but they can still grow their business and attract new consumers to their site through personalization, which is becoming even more important in this new age that’s become increasingly defined by a lack of brand loyalty. By personalizing some of their messaging, merchants can make a better connection with their consumers, which could directly translate into more sales opportunities and revenue.
In fact, 48 percent of merchants indicated that a personalization strategy led to at least an 11 percent increase in their performance, per the report, Personalization in Retail: The Latest Trends and Challenges from eMarketer. Clearly, a personalization strategy, which entails tailoring advertisements or other messages towards a given consumer and their preferences, can have tangible results for merchants, by driving more consumers to their online site. But merchants aren’t the only ones affected by personalization.
In this day-and-age, it can sometimes be difficult to discern one merchant’s offerings from another. As a result, consumers may be more likely to respond positively to targeted, personalized messaging. In a survey of U.S. internet users in the report, 78 percent indicated that personalized messaging or content from a brand would increase the likelihood of them making a purchase.
Every day, the digital commerce space is getting even more crowded, as more online merchants enter the fray. With this ongoing development, it’s likely that personalization will emerge as an essential strategic plan for most merchants in the industry.
If they execute this plan successfully, these merchants will hopefully see an influx of consumers visiting their online site. But, once they get there, these consumers won’t stay, or return, if they encounter a slow, tedious checkout experience.
Online merchants can solve this problem by utilizing consumer authentication, specifically Cardinal Consumer Authentication (CCA), our rules-based authentication solution. Since it leans on a bevy of rich data, CCA can optimize the checkout experience for consumers, which means they won’t be interrupted during the flow or required to step-up to authenticate themselves. But this solution is unique because it can enhance the consumer experience while simultaneously preventing fraud and false declines. With One Connection to Cardinal, we can Drive your Digital Commerce.