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Have you ever visited a B2B website and felt like it just “got” you? Maybe it showed you products you were interested in or content that matched your role and interests. That’s the magic of web personalization! Let’s talk about how this cool and really easy-to-use tech can help businesses make increase revenue and keep their customers happy.
What is web personalization?
Web personalization is like having a friendly shop assistant who knows exactly what you like. It tailors the online experience to each visitor based on their behavior, industry, role etc. This makes the website more engaging and useful for everyone, thereby keeping your most valuable traffic on your site rather than heading back to Google because they couldn’t find what they were looking for.
Why is web personalization important?
Let’s dive into some of the benefits of web personalization:
1. More sales
- When a website shows you relevant information, products or services at the right time to the right people, they’re likely to convert (typically that means filling out the contact/request more info form). This means higher conversion rates for businesses. Just like you’re best sales person, the experience is tailored to you, including social proof, product recommendations and content – that’s what personalization does online!
2. Funnel acceleration
- Personalization can significantly speed up the B2B sales funnel by delivering tailored content and recommendations at each stage of the buyer’s journey. Firstly, it ensures that potential clients receive information that directly addresses their specific needs and pain points. As a result, they’re more likely to engage and move forward in the decision-making process.This targeted approach reduces the time spent nurturing leads and accelerates their path to becoming paying customers.
3. Happy customers 😊
- When customers feel understood and valued, they’re more likely to stay loyal and advocate for you. Personalization is not just about top of the funnel leads it’s highly effective for existing customer retention and increasing share of wallet.
4. Smarter marketing
- By targeting the right audience with personalized content, businesses focus their attention on their most valuable traffic instead of driving conversion with all traffic that may not be good fit.
How to measure the financial benefits
Let’s talk about how businesses can measure the return on investment (ROI) from web personalization.
Here’s a simple formula:
Steps to calculate ROI:
1. Identify key metrics:
- Monthly website traffic
- Current site conversion rate
- Average order value
- Customer acquisition cost
2. Estimate uplift from personalization:
- Use industry benchmarks or A/B testing to estimate the potential increase in conversion rates, AOV, and customer retention. At Webeo, we can give you conversion uplift projections based on live campaign performance with your target audience.
3. Calculate net profit:
- Determine the additional revenue generated from the uplift.
- Subtract the costs associated with implementing and maintaining personalization tools. It’s worth considering the resources involved in implementing personalization – therefore, when you’re speaking to vendors, ask about how much support they provide or if you’re buying a self-serve tool. Webeo provides a fully managed service, so the impact on your resources is minimal.
4. Apply the ROI formula:
- Plug the net profit and costs into the ROI formula to get the percentage return on investment.
The above is straight forward when you’re doing personalisation at scale to drive top of the funnel inbound leads. However, if you’re more interesting on ABM personalization – I’m thinking account-based experiences where you want to deliver a red carpet experience but the likelihood of a buyer ‘converting’ onsite is low because you’re already in discussion etc – in this case we focus on the value of creating the experience and measuring anecdotal feedback. And the value of seeing how the account is behaving onsite and being able to update experiences at the account and contact level based on things like funnel stage, content consumption, etc.
Investing in web personalization tools can quickly bring big financial benefits. It boosts website conversion, accelerate sales and create a highly relevant experience for your customers. If you’re looking at ways to quickly show impact from your marketing investment web personalization might just be the secret ingredient you need! Don’t forget, your website is the place all your buyers are guaranteed to visit at least once, so you want to get it right from the moment they arrive!
Thanks for reading! If you have any questions or want to learn more contact us.
