Footwear retail brand Footasylum has experienced a 28% increase in revenue derived from email as a result of delivering hyper-personalised marketing communications after working with AI company Peak.
A recent trial also revealed taking a data-driven approach has led to a 75% decrease in cost per social click. By targeting the people most likely to convert, their cost per click went down because the revenue generated from each click went up. the trial took place one week ahead of the launch of a new product from Nike.
"Hyper-personalisation leads to loyalty and growth."
“Customers now expect high levels of personalisation at every single touchpoint,” said Tom Makin, e-commerce and marketing director at Footasylum. He added: “With our product offering being so vast, delivering an experience relevant to each user is extremely challenging.
However, Peak showed us how AI can be used to create a hyper-personalised experience for every single Footasylum customer and that this leads to greater customer loyalty and growth.”
The hyper-personalised communications the brand has been offering since partnering with Peak includes pushing relevant product recommendations, enticing less-engaged customers with offers and providing customers with more of the products they are interested in.
Makin elaborated on the potential benefits that artificial intelligence offers to retailers. He said: “The opportunity with AI means you don’t have to force (or push) the issue – Peak helped us to deliver a personalised recommendation to each customer based on how they value our brand, which means that communications becomes a more profitable opportunity with less resources required.”
"Retailers using AI are growing 30% faster."
Makin also said: “We’re certainly seeing the benefits of being an AI-driven business. There are many more exciting opportunities on the horizon with Peak, including further inventory and social media growth through the power of AI.”
Richard Potter, chief executive of Peak, said: “To truly become AI-driven requires a new kind of business system. All retailers and enterprises will need to put AI at the heart of their business in the future. Our research shows that retailers using AI are growing 30% faster than those who aren’t. Footasylum is a great example of the positive impact the technology can have.”