The Right Personalized Offers Double the Chance to Attract New Customers

Read the original full report from PYMNTS here.

Here is a brief summary of the article:

• Personalized offers and contextualized consumer experiences are becoming a competitive factor across industries
• Despite their potential to foster customer loyalty, more than half of consumers find the offers they receive irrelevant to their needs and preferences
• A PYMNTS Intelligence study found that only 44% of consumers find the offers they receive very relevant to their needs
• Merchants need to adopt a customer-centric approach and implement data-driven strategies to accurately understand and address the specific needs and preferences of their target consumers
• Hyper-personalization has to go beyond the obvious, tapping into a broader range of data points to create a truly individualized experience
• Well-personalized, non-monetary offers can also build customer loyalty without relying solely on discounts
• Personalized offers are an engine to motivate consumers to change their shopping habits and try new merchants