The recent pandemic played a significant role in the volatile economy that has plagued America in recent months. A record 3.28 million Americans filed for unemployment the week of March 21st due to a surge of layoffs as many businesses were forced to shut down during the height of the pandemic. By the end of May, just two months after the pandemic's initial ascent, that number skyrocketed to nearly 41 million. Over the summer, the majority of businesses have been able to reopen their stores to 50%. However, over half of business owners say they believe it will take an additional six months to a year before the small business climate returns to normal and 7% think that it will never return to the way it was.
Is Small Business Survival Still Possible?
Many businesses were not able to reopen after closing during the pandemic. 2% of all small businesses in the U.S. have gone out of business since March, and 3% in the restaurant industry. With over 30 million small businesses in the U.S., that’s over 600,000 that regrettably closed their doors, and many more are expected to announce closure in the upcoming months.
Many financial experts have predicted that this means the balance of power is shifting to big businesses, and with that power comes a better chance of surviving in uncertain times. The Federal Reserve has even gone as far as making it nearly free for large businesses to borrow money while small businesses are still forced to scramble to make ends meet.
Can small businesses thrive once more, or even survive this storm? The favorable truth is that there is hope for small businesses, especially for those that strategize and build an effective marketing plan. Small businesses need to find ways to reach their ideal audience during an unprecedented time.
Move Forward with Targeted Marketing
Many experts have said that the pandemic has forever changed the economy. The same can be said for marketing. The way that successful brands reach out to their customers has changed over the course of the past year, and there are no signs it’s going back anytime soon. Businesses
have had to reinvent their marketing strategies and get creative to accommodate their customer’s shifting priorities and shopping habits.
80% of customers are more likely to purchase a product or service from a brand that provides personalized experiences. Moving forward with targeted, effective marketing means going back to the drawing board and finding ways to create an individualized shopping experience for customers. Simultaneously seeking out ideal prospects to ensure your brand is reaching genuinely interested people will positively impact your business and greatly serve your business.
Adapt With a Personalized Experience For Consumers
By focusing your efforts on a highly targeted audience, your ROI and growth will be much higher than if you sent out generic communications to an unqualified group of people. Your marketing strategy should be tailored to each individual using psychographic characteristics such as lifestyle habits, interests, and personality traits.
72% of consumers will only engage with personalized marketing messages. So, it’s no surprise that in recent years, B2C and B2B companies alike have started to implement their own personalized marketing campaigns. With the recent hit to the economy and the shutdown caused by COVID-19, it’s more important than ever that brands find ways to create a personalized experience for their audience in order to make a lasting impression.
7 Effective Ways to Personalize Marketing Content
How can a small brand reach a big audience in a personalized way? It’s easier than you might think to connect with your customers on an individualized level. Here are a few simple ways to help you get started and create an experience your customers aren’t likely to forget.
- Provide a Personalized Homepage Experience
When a person visits your website multiple times, direct them to the pages they visit the most. Instead of taking them to the generic homepage every time, show them that you value the time they spend on your site and care about what they want to browse the most.
- Recommend Products and Product Categories Based on Browsing Behavior
Use a visitor's browsing history to create recommendations for other products that they might be interested in. Studies show that providing recommendations increases sales by up to 10%. So, it's no wonder that it's one of the most popular and easiest ways to customize your visitor's experience.
- Use Quizzes and Size/Style Guides
Make it easy for your customers to find what they’re looking for by asking them questions. Use a quiz to personalize their experience and only recommend their preferred styles and sizes to provide a seamless shopping experience.
- Upgrade Personalized Emails
Although adding a person’s name to the subject line and intro is effective, there are other ways that you can make your emails personal. Consider sending a special gift to your customers on their birthday, reminders when they’ve left something in their shopping cart, and reach out to inactive leads to let them know they’ve been on your mind.
- Send Category-Specific Discounts and Promotions
Let your customers know that you’re listening to what they want by sending promotions on products and services that you know they care about. Not everyone will use the same type of discounts or promotions so offer a variety to reach a larger audience.
- Use GEO-Location Tracking
Personalize your eCommerce site by redirecting visitors to the right store if you serve multiple countries. This will allow them to only see products and services available in their area.
- Upsell During or After a Purchase with a Related Product
Once a customer has made a purchase and is directed to the thank you page, offer a special promotion or discount for an upscale directly related to that product. This is especially effective for digital products.
Create fresh, innovative content that will make the purchasing process an unforgettable experience. This can be done by adding interactive content to your website, social media platform, emails, and even direct mail campaigns. Some examples include polls, quizzes, videos, and QR codes.
Exact Data is Your Trusted Data Expert
As a trusted partner in business and consumer marketing, Exact Data understands the importance of a highly targeted list of prospects, especially in today’s business climate. Our comprehensive demographic, firmographic, and geographic selects allow you to quickly identify your perfect audience by targeting your consumers by age, ethnicity, gender, marital status, number and age of children in the household, interests, and more. Our targeted lists ensure that you’re reaching the right people and using your resources wisely.
Our team of industry professionals routinely update our comprehensive database with a rigorous data hygiene process to make certain all selects, new movers, new addresses, invalid email addresses, and deaths are unerring and up-to-date.
Exact Data will help you create your own targeted list, making it possible to reach out to your ideal audience. While providing them with a personalized shopping experience they won’t soon forget. Reach out today to learn how to get started.