Insight from #IRCE2014: Personalization is the Future of eCommerce

By the end of every IRCE, it’s pretty clear what major topic everyone is talking about. In the past, the conference has centered around multi-channel marketing and the rise of social media. This year at #IRCE2014, it was all about personalization. In his keynote speech, eBay CEO John Donahoe highlighted personalization as the key competitive advantage for Internet retailers. And as eCommerce sees significant innovations in the next few years, personalization is only going to get more important.

How important is personalization? Here are some of Donahoe’s stats:

• 78% of consumers will buy more from a retailer that uses personalization.
• Average conversion rates double with personalization.
• But…71% of consumers don’t believe companies are doing personalizing effectively.

How can you make sure you’re not in that 71%? Look for data and CRM services that can make your personalization count. While walking the floor, I saw that many of our partners were displaying automated analytic and recommendation engines. Our ESP partners were all showcasing their segmentation tools, content management services and CRM management capabilities in addition to their traditional delivery tools. All of these interesting technology companies displayed solutions that innovate the way e-tailers interact with customers by optimizing your personalization.

What do you think will emerge as next year’s IRCE theme? My prediction is attribution. Tell me yours in the comments.

Photo Credit: eventsinamerica.com