Personalisation, first-party data and the subscription economy
Two weeks ago, eCommerce Expo 2021 virtual, in association with Technology for Marketing became a platform to voice collaborative insights on what’s really happening in the digital commerce world. This piece will review how prominent businesses Eurostar, Adidas and Love Home Swap discussed personalisation, first-party data and the subscription economy.
In conjunction with the rise in D2C over the last 12 months, subscription services have become more commonplace across retail. Lush, Majestic Wine, Pret a Manger, and The Fragrance Shop are among those that have launched or invested further in this model to get closer to customers and generate recurring custom.
At eCommerce Expo, attendees heard from Celia Pronto, managing director of holiday home exchange membership platform Love Swap Home, which has faced significant challenges during the pandemic as travel restrictions were enforced.
Pronto said the power of the subscription model and simplifying its operations, for instance by merging previously separated membership schemes, helped the business navigate the 2020 storm. Subscription rates “remained strong”, she added.
Being a membership organisation meant consumers were opted in to its communications, and Pronto said there was a focus on creating content “to keep us relevant in their minds”. The company also took advantage of the period of disruption to introduce new services in line with new social trends such as a ‘Local Travel Hub’ ensuring members’ searches on the site defaulted to properties closest to them.
Simon Kennedy, manager of experience optimisation for Adidas in Europe, said retailers will continue to build membership schemes for long-term stability and opportunities around customer retention, amid a period of greater cost analysis across the industry.
“We’re going to see more businesses really having to take action on how they unlock lifetime customer value, and consequently we’ll see an increase in membership and subscription offerings coming to market,” he stated.
“Senior leaders will become more reluctant to sign off on discounting unless that discounting is driving meaningful behavioural change on purchasing – and I think that’s where the membership aspect really has to come into it.”
New online rules
A hot topic among expo speakers was Google’s imminent depreciation of online cookies, which will have a huge impact on programmatic advertising and the ability for brands to target their messaging online. Apple, too, is tightening its approach to privacy.
David Williams, founder of consultancy DHW Digital and former eCommerce boss at Aspinal of London, said these changes make securing and optimising “first-party data” a priority for many organisations in 2021.
Katie Spagnuolo, director of platform & data strategy at TripAdvisor, added: “It’s important brands focus on strengthening their first-party data, making sure they are leveraging it in a smart way.”
A key question for brands, she explained, is to establish an ecosystem that is fully consented and then to think how does advertising fit into that scenario.
Explaining TripAdvisor’s approach, Spagnuolo said: “By leveraging data science, we can get an understanding of whether a traveller on our site is in the planning stage or pre trip booking, on trip etc. And with that we can really work to prepare our ad partners so they can put their message in front of the right person at the right time.”
In pursuit of personalisation
Personalisation of product, service and communication has long been a target for retailers, and a common subject of conversation at eCommerce Expo over the years.
As Matt Lovell, who until last month was data insight & analytics director at Eurostar, said, the wider industry still has a long way to go.
“The vast majority of brands don’t treat it as a priority,” he commented.
“As far as they are concerned it’s just push marketing, and as long as they see some positive sales off the back of it they’ll do more and more.”
He advised retailers to “obsess” over what constitutes overcommunication, connect data sources and build out a view of each customer. That will help personalisation in emails, he argued.
Stay tuned for next weeks' thought piece, which will deep-dive into the world of Social Commerce, covering Facebook, the rise of Snapchat and TikTok, and the growing influence of social commerce.
Register for on-demand
Login to rewatch
Latest News
-
What’s wrong with online fashion?
27 Mar 2024 Andy Mulcahy, Strategy and Insight Director, IMRGAs I mentioned in a previous article, eCommerce is going through a tough period at the moment. Following the huge growth online during the lockdowns, it has fallen away consistently as we’ve entered a ... -
ECommerce Talent: Past, Present & Future
27 Mar 2024Discover essential insights into eCommerce talent sourcing trends with Andy Davies, from Vertical Advantage. Learn about salary shifts, leadership gaps, and strategies for sustainable growth. -
Martin Musiol from GenerativeAI.net on Finding Tailored Solutions For Your Business With AI
27 Mar 2024 Laura DazonExplore Martin's journey into AI, and discover his insights on integrating AI into business operations and how can AI enhance creativity. -
The 3 Keys to Success in eCommerce Right Now
27 Mar 2024Learn eCommerce success essentials from Chloë Thomas: adapt, profit, engage. Test and innovate to thrive in today's competitive market. -
Are You Strategising Growth This Year?
04 Mar 2024IMRG’s recent session highlighted key insights for eCommerce growth: 🎧 Listen to the Full Session In This Session: eCommerce Downturn: 2022 saw negative growth in the UK's eCommerce sector, largel ... -
Discover key insights with Paul Walsh, Founder of All Things Amazon.
-
Learn how to go composable with Lampoo, luxury second-hand fashion retailer.
-
A tough, tough start to the year for online retailers
27 Feb 2024 Andy Mulcahy, Strategy and Insight Director, IMRGWith trading conditions proving to be very difficult over the past few years, it was perhaps a surprise that peak trading fell in line with forecasts for online retail. -
Trustpilot's Paul Kirby On Leveraging The Power Of Reviews For Your Business
23 Feb 2024 Laura DazonMeet Paul Kirby, Trustpilot's Enterprise Customer Success Manager, sharing his journey from media advertising to guiding eCommerce leaders through reviews. -
IMRG reveal industry customer acquisition rates, how long customers should be staying with you, and if you’re spending too much to acquire new customers. This session uses IMRG’s unique market dataset ...
-
Manuel T'nz from Bloomreach on Holistic Commerce and Conversational AI
05 Feb 2024 Laura DazonMeet Manuel, the Director of Client Strategy at Bloomreach. -
How to Win the Connected Customer Experience
04 Feb 2024Brands that succeed in 2024 are likely to be those that connect brand and customer experiences seamlessly, digitally and physically in everyday life: at home, in play, in retail, and more. Faced with ... -
A pretty good Christmas for retailers, but… For many retailers selling in the UK market, the past few years have been notable for a clear dip in customer demand; the economic downturn has been reflec ...
-
What does it take to gain 1 million active mobile app users monthly? How do you reach the ability to deploy any applications or API changes worldwide in 5 minutes or less? Well, Formidable’s Director ...
-
Discover the secrets behind Pandora's colossal success as the world's largest jewellery brand in a session titled "How Product Information Management Powers Pandora's Global Retail Growth." The world’ ...
-
Explore the dynamic landscape of Cross-Border eCommerce and its role in unlocking global growth. This expert panel discusses key strategies, technologies, and trends, offering valuable insights for bu ...
-
How to Take An Established Brand to New Markets
22 Jan 2024Moonpig's Director of New Markets & Ventures, Alexander Toft, shared invaluable insights during the conference session on "Taking an established brand to new markets." Here are the key takeaways: Star ... -
The Livestreaming eCommerce market in China is forecast to reach 700bn RMB (£80bn) in 2023, roughly equivalent to the entire eCommerce market of South Korea. Chinese consumers show an increasing appet ...
-
Are you sold on retail media?
10 Jan 2024Discover key insights with experts from Propeller, Boots Media Group, Microsoft and NielsenIQ -
Trustpilot x Henry Case Study: How the Household Brand Boosted its Growth Through Reviews
10 Jan 2024Henry is a fixture in millions of homes in the UK, and part of their success can be attributed to the hyper-focused view on their customers’ experience and loyalty. -
A checklist for improving your key KPIs with Composable commerce while avoiding the most common pitfalls - drawing from practical experience from Lars Petersen, CEO of Uniform, Tomas A. Krag and Malgo ...
-
In today's highly competitive world, where customers have numerous options and heightened expectations, retailers face the challenge of fostering mutually valuable and long-term relationship with thei ...
-
In this session, uncover how Sitecore Commerce breaks away from the one-size-fits-all approach, empowering brands with unique products to maintain their distinctiveness and deliver unmatched customer ...
-
eCommerce Deep-Dive with Andy Mulcahy from IMRG
11 Dec 2023 Andy MulcahyExplore the aftermath of Black Friday 2023 with Andy Mulcahy's analysis. -
Dive into the dynamic world of eCommerce with Chloë Thomas, renowned Author and Podcast Host of eCommerce MasterPlan, as she moderates a panel discussion featuring David Meakin, Head of Partnerships & ...
-
December 2023 in eCommerce
11 Dec 2023Bite-size updates on what happened in eCommerce this month, to keep you ahead of the curve and inform your campaigns. -
Unlock the power of Artificial Intelligence in commerce growth with Shaun McCran, Head of Commerce Product Marketing for Europe at Adobe.
-
In retail, leaders constantly grapple with challenges and opportunities that compel them to reconsider their commerce strategies. This eCommerce Expo Keynote, chaired by Andrew McClelland, hosted Dean ...
-
Michael Scholz, VP of Product and Customer Marketing at commercetools, provides invaluable insights into adopting a composable commerce approach for crafting exceptional shopping experiences. Let's de ...
-
Elevate your customer engagement strategy with Anish Chadda, VP of Product at MessageBird