In the exclusive luxury industry, providing a personalised and unique experience for customers is paramount in fostering brand loyalty and driving sales. A key way to achieve this is through the use of bespoke video experiences. By creating a tailored and curated video shopping experience for each customer, luxury brands can showcase their elite products and services in a way that aligns with the customer’s preferences and tastes. There are several ways to create a personalised video experience for retailers in the luxury sector. In this article, we will cover the following:
- The importance of creating a personalised video experience for the luxury sector
- One-to-one live video shopping
- How retailers can create personalised video experiences
- The results seen by retailers using Confer With
The importance of creating a personalised video experience for the luxury sector
Creating a personalised video experience for the luxury sector is vital for brands to stand out in a crowded market, build stronger relationships with their customers, and ultimately drive sales. The luxury industry is highly competitive, and so personalised video experiences can help luxury brands differentiate themselves by creating unique and tailored content that aligns with the customer’s interests and preferences. This can help luxury brands establish a unique brand identity and build a loyal customer base.
Personalised video experiences can also help luxury brands build stronger relationships with their customers by providing them with consultations that are tailored to their interests and preferences. Additionally, it can increase brand loyalty and customer engagement, as the interaction is unique to the customer. This in turn leads to higher conversion rates and ultimately drive sales.
According to McKinsey: “Research shows that personalization most often drives 10 to 15 percent revenue lift (with company-specific lift spanning 5 to 25 percent, driven by sector and ability to execute). The more skillful a company becomes in applying data to grow customer knowledge and intimacy, the greater the returns”.
Moreover, personalised video experiences can also be used to leverage customer data to gain insights into customer preferences and behaviour, make strategic business decisions, and improve the overall customer experience. Creating a personalised video experience for each customer can, in turn, lead to a more enjoyable and satisfying customer experience. This can help luxury brands establish a reputation for providing exceptional customer service, helping them retain their customers and attract new ones. By targeting the right audience with the right message, brands can also increase their return on investment and drive more sales.
One-to-one live video shopping
Personalised video experiences, particularly live one-to-one video shopping, are becoming increasingly important for luxury retailers as they strive to differentiate themselves in a crowded market and create a unique brand identity that resonates with their customers.
Live one-to-one video shopping is an innovative and effective way for luxury retailers to provide a truly personalised experience for their customers. This type of video shopping allows customers to interact with a sales representative in real-time through a live video call, where they can ask questions, see the products up close, and receive personalised recommendations based on their preferences.
By providing customers with live one-to-one video shopping experiences that are tailored to their interests and preferences, luxury retailers can create a sense of exclusivity and make customers feel valued. By leveraging customer data, luxury retailers can gain insights into customer preferences and behaviour, which can be used to make strategic business decisions and improve the overall customer experience. In fact, according to Accenture, 83% of consumers are willing to share their data if it leads to a more personalised experience.
How retailers can create personalised video experiences
Immersive one-to-one video shopping provides luxury retailers with the experience that sets them apart from other brands. So how can luxury retailers leverage this experience well?
- Use high-quality, visually stunning content: The luxury sector thrives on exclusivity. Displaying the quality of products is very important, so it’s important to use high-quality, visually stunning content that showcases the unique features and benefits of products or services. This can include using high-resolution photos and videos, as well as incorporating animation and special effects to make the video more engaging. According to a study by Hubspot, “72% of customers said they would rather learn about a product or service by way of video”
- Create videos that tell a story: The luxury sector creates an emotional connection with the shopper, so it’s important to create videos that tell a story. This can include using customer testimonials, or storytelling elements to showcase the unique features and benefits of your products or services. According to a study by Wyzowl, 84% of consumers have been convinced to buy a product or service after watching a brand’s video
- Use personalisation to create a more intimate experience: As previously mentioned, personalisation can be a powerful tool for creating a more intimate and engaging video experience. This can include incorporating the viewer’s name, location, or other information into the video
Exceptional customer service, delivered over live one-to-one video
Live one-to-one video shopping can also help luxury retailers establish a reputation for providing exceptional customer service. By creating a personalised video shopping experience for each customer, luxury retailers can enhance the overall customer experience, which can help them retain their customers and attract new ones. For example, in a live one-to-one video shopping call, the retail expert can provide a bespoke experience for the customer by customising the products they share within the call to feature the specific items that align with the customer’s style and size.
Luxury brands can use one-to-one video commerce via virtual clienteling, which seeks to establish meaningful relationships between the luxury brand and the customer. This is achieved by empowering sales associates with real-time data based on the customer profile. Luxury clienteling can lead to increased customer satisfaction, loyalty, and the ability to gather valuable data on customer preferences and buying habits. Additionally, virtual clienteling can also increase efficiency for the business, one way being the advantage of remote interactions. Virtual clienteling allows sales staff to interact with customers remotely, which eliminates the need for them to be physically present in the store. This can save time and resources for the business as they can handle multiple customer interactions simultaneously. Find out more about virtual clienteling in the luxury industry.
Finally, luxury brands can use one-to-one video commerce for post-sales support. Each customer will have their own unique experience with a brand, therefore they can provide personalised instructions and troubleshooting tips for customers who are experiencing issues with their products. This approach allows brands to provide a high-quality post-sales service, which is critical for maintaining customer loyalty and repeat business in the luxury sector.
The results seen by retailers using Confer With
Retailers using the Confer With platform have seen their conversion rates and average order values skyrocket with live one-to-one video shopping. While the luxury sector averages 2.1% conversion rates, Confer With sees conversion rates of 20% and above. Additionally, by using the live video shopping, retailers are seeing a 49% and above increase in average order value.
The Confer With platform has all the features required to create a bespoke, immersive shopping experience within the luxury sector:
- Personalised video experiences based on customer’s needs and preferences
- Recommendations and alternative features the retail expert can use to cross-sell and upsell products
- Access to real-time data and reporting
Key Takeaways
Creating personalised one-to-one video shopping experiences for the luxury sector is a powerful way to connect with discerning customers and build brand loyalty. By using exclusive customer data and insights, businesses can create bespoke one-to-one video shopping experiences that are tailored to the specific interests and needs of their elite audience. This one-to-one approach allows for a more intimate and personal shopping experience, driving conversion rates of 20% and above, as well as a 49% increase in average order value.
