How Would We Personalize Recurly Based on Industries to Increase Conversions
How Would We Personalize Recurly Based on Industries to Increase Conversions
Use firmographic data to prioritize high-value visitors on your website
In this case study, we'll show you how we would personalize the digital experience on Recurly’s website based on visitor’s industries to create better experiences by leveraging IP intelligence and first-party data.
Before diving into the personalization, let's look at what Recurly is doing:
Recurly
Recurly gracefully handles all the complexities of subscription billing and revenue optimization.
Recurly provides enterprise-class recurring billing management for thousands of subscription-based SaaS, Web 2.0, Mobile, content, and publishing businesses worldwide.
The Background of the Personalization Journey
If you're a business, you know that attracting leads and retaining customers is essential to your success. Moreover, as a business, you understand the importance of understanding your visitors and what they want.
And if you're looking for ways to improve your conversion rates, anonymous visitor personalization may be the answer.
Adding this layer of customer understanding to your website, you can create a more tailored experience for all of your visitors, regardless of who they are, which will improve engagement and conversion.
The Opportunity
Is it really necessary for businesses to personalize their website experiences for anonymous visitors?
The answer is a resounding yes, and here’s why.
There is a huge opportunity lying under personalized offers because according to research by Accenture, 91% of consumers say they are more likely to shop with brands that provide offers and recommendations that are relevant to them.
When done correctly, personalization can lead to higher conversion rates, as well as increased customer engagement and loyalty.
And the best part?
It doesn’t require expensive or time-consuming changes to your website – simply using visitor data via form submissions to create targeted dynamic content is often enough.
Adding Personalization to Recurly’s Website
Step 1: The Tech Stack
To create personalized experiences for its visitors, Recurly needs to leverage the first-party data they have via IP intelligence.
Moreover, in order to create the best possible personalized experience, they’ll source all of the data points made by the same visitor under one customer profile - with the help of Ninetailed's unified customer profile feature.
For this personalized experience, Recurly will need the following tech stack:
Albacross as an IP intelligence
Step 2: Defining Hypothesis and Methodology
Personalization is key to making sure the visitors are shown exactly what they need before buying, which can help increase conversion rates.
Therefore..
We hypothesize that by personalizing the page elements based on the IP intelligence, in our case it will be:
industry
company size
Recurly can show its visitors personalized hero images, messages, offers, features, benefits, case studies they're interested in - increasing the likelihood of them clicking through and making a conversion.
The bottom line, to create a personalized web experience, Recurly needs to leverage first-party data.
Step 3: Defining Personalization Signals
To create a seamless customer experience with a personalized web page, Recurly will use the following signals:
Industry: This type of grouping enables companies to tailor their strategy to the needs of enterprises in a particular sector.
Company Size: Company size allows personalizing the right audience with the right campaigns. Obviously, the impact of a marketing campaign targeting startups will be different from the impact of the same campaign targeting enterprises.
Step 4: Personalization Journey
To create the personalized web experience for Recurly, let's define the visitors' hypothetical personalization journey:
A visitor lands on Recurly’s website
IP Intelligence triggers the personalization
Visitor sees a personalized hero section based on industry
After that, the visitor scrolls down and sees personalized social proofs
The Result: Before vs. After
So far, we have talked about the hypothesis, methodology, which signals to use, and required technology stack.
Now let's look at the visuals to better understand it.
As we defined earlier, a visitor lands on Recurly’s website. After IP intelligence triggers the personalization (which is under a couple of hundred milliseconds), the visitor sees a personalized version of the hero section:
After that, the visitor scrolls down to the social proofs:
The Bottom Line
Although we showcased a very fundamental personalization based on firmographics, there are endless ways of personalization.
Personalization is a continuous journey, which means that once one implementation is completed, companies will return to the beginning of the framework to analyze acquired data, discuss new ideas, hypothesize further improvements, and so on.
Through continuous learning and experimentation, this strategy enables various teams
content marketing,
growth,
product management,
development
to create meaningful personalization experiences.