As web-dwellers, we always love content that is engaging. Moreover, if it relates to our specific interests, it is more than well-received. e-Commerce stores can especially benefit greatly from personalized content, because it is instrumental in converting users into buyers.
The power of personalization is immense…
Let’s look at some stats as proof –
What marketers say –
- More than 75% believe that real-time personalization is crucial.
- Close to 94% state that website personalization is important for success.
And the consumers’ take on things –
- More than 54% consumers say that they are more likely to shop with sellers who offer personalization. This includes personalized pricing such as special discounts or offers, product suggestions, etc.
- On the flipside, almost 75% say that they get frustrated if the website shows content that doesn’t match their interests.
- Close to 70% say that they will leave the site if shown irrelevant ads, item suggestions meant for the opposite gender, something they have already bought, political donations etc.
These numbers clearly indicate how crucial personalization is for e-Commerce stores. It’s safe to say that personalization is indeed the future of online business. But the reality is that although personalized ads convert close to 10 times more than others,
- Only 30% marketers invest in user-based data to create personalized website content.
- More than 70% companies are clueless about the process.
- Nearly 46% say that IT and legacy technology is a hindrance.
As you can see, a lot of online marketers are clueless about the process of personalization, but you don’t have to be! Here is an awesome personalization technique for WooCommerce websites.
Personalized pricing – A Powerful Solution
Personalized pricing means setting different prices of a product for different customers, depending on various factors. Sound complicated? It really isn’t. The beauty of WooCommerce is that it has many plugins that simplify processes.
And Personalized Pricing is made simple using the Customer Specific Pricing plugin.
Using this plugin, you can set a different set of prices for –
#1. An individual customer
#2. A group of customers
Premium customers, customers who own a specific bank’s credit card, customers who use your WooCommerce store’s special card, business partners, etc.
#3. User specific roles
Customers, store managers, employees, sellers, etc.
You just have to set the rates for the specific customer/group/role, add other specifications, and you’re done. When the concerned person/people view this product, they will see it at the specified price. You can add prices for multiple products as a list, set flat discount rates, or even create unlimited customer-price pairs.
Doesn’t Stop at Retail
The Customer Specific Pricing plugin is useful even if you own a wholesale WooCommerce store. You can use the dynamic pricing method, setting discounts depending on the quantity of products bought. For instance, you may sell 18 sofa sets to a customer ‘A’ at a 30% discount or 12 sofa sets the same customer at a 20% discount, while these discounts may vary for customer ‘B’ with the same quantity. This wholesale rate will change on buying different quantities and for different products.
And that’s not all
As a little something extra for you, we are listing out some more methods and techniques for personalization on WooCommerce –
- Applying personas
- Analyzing download history
- Previous buying behaviour
- Liking-based ads
- Personalized emails
- Banners based on relevant content
- Geographically specific ads
- Language on the site
- Being friendly, open, and honest
Personalization on WooCommerce is very important for increasing customer loyalty and engagement, and consequently, sales. It gives users a positive experience; they like shopping with sellers who ‘care’ about them. Personalized pricing is a great way to make your customers feel special; they will, in turn, tell more people about you. Use the Customer Specific Pricing plugin in your WooCommerce website and get a glimpse into of the power of personalization.