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Best Practices for Effective Retail Personalization

Targeting the right offer to the right customer is the key part of a marketing strategy, and to achieve that these 10 practices should be considered as important. To Know More - https://www.altencalsoftlabs.com/retail/

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Best Practices for Effective Retail Personalization

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  1. 10 Best Practices to Set Foundation for effective Retail Personalization © ALTEN Calsoft Labs

  2. What is retail personalization ? Retail Personalization, or 1:1 personalization, or individualization is a marketing strategy by which retailers leverage data analysis and digital technology to deliver personalized offers and promotions to current or prospective customers. © ALTEN Calsoft Labs

  3. 1. Set clear objectives 10 PRACTICES 2. Let marketing lead the way 3. Categorize your offers 4. Have clear and relevant offers 5. Keep offers up to date 6. Set policies for variety of offers 7. Give offers for only what is in stock 8. Analyze the effectiveness 9. Educate the employees on topic 10. Collaborate with suppliers © ALTEN Calsoft Labs

  4. Set Clear Objectives #1 o Focus on what is important o Stakeholders should be informed about goals o Objectives should be clear and attainable © ALTEN Calsoft Labs

  5. Let marketing lead the way #2 o Marketing team should be given prime importance o The team should consist of subject-matter experts o They should look into product/services from customer point of view © ALTEN Calsoft Labs

  6. Categorize your offers #3 o Offers should be attractive o Availability of product should be checked o Quality check is must © ALTEN Calsoft Labs

  7. Have Clear & Relevant Offers #4 o Be specific about the offers o Develop a review system to check all the offers o Offers should be easy to grasp and understand © ALTEN Calsoft Labs

  8. Keep Offers up to Date #5 o Unique offer for each product o Personalized offers should be created o Upgradation of the products, should reflect on the offers © ALTEN Calsoft Labs

  9. Set Policies for Variety of Offers #6 o Offers should not be repeated o Offers should be unpredictable o Keep an eye on competitors offers © ALTEN Calsoft Labs

  10. Give offers only for what is in stock #7 o Always keep track of products o Do not promote and sell products which are not in stock o Availability of products and reordering them should be maintained © ALTEN Calsoft Labs

  11. Analyze the effectiveness #8 o Monitoring the offers is very much necessary o Analysis will help to update the offers o By analyzing the effectiveness, one can solve the problem of stock clearance © ALTEN Calsoft Labs

  12. Educate employees on personalization #9 o Importance of personalization should be discussed with employees o Employees should know about each and every offer o Impact on customer relations should be explained © ALTEN Calsoft Labs

  13. Give offers only for what is in stock #10 o Always keep track of products o Do not promote and sell products which are not in stock o Availability of products and reordering them should be maintained © ALTEN Calsoft Labs

  14. Find related Retail Personalization articles here: Services We Offer in Retail o Retail Mobility 1 o Digital In-store o API Platform & Blueprints o Adaptive, Responsive Ecommerce o Retail Analytics 2 o Retail Personalization o Ecommerce Platform Implementation o Customer Journey Mapping o Conversational Commerce Enablement Read the full article here: “10 Best Practices to Set Foundation for Effective Retail Personalization” o Omnichannel Retailing © ALTEN Calsoft Labs

  15. CONTACT US USA | FRANCE | UK | INDIA | SINGAPORE Write to us : business@altencalsoftlabs.com Visit our Website: www.altencalsoftlabs.com Follow Us on: Facebook | Twitter | Linkedin | Youtube © ALTEN Calsoft Labs Author: Devanshu Dawn; Design: Ramu C

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