Fact: Consumers are tired of being treated like a number. Actually, they’re not tired of it, they’re over it. And that’s why personalized marketing matters for any brand looking for long-term customer loyalty.
Consumers, aka your customers, place a high value on being acknowledged as an individual. They have increasingly come to expect a personalized customer experience from the brands they remain loyal to. Think Amazon, Google, Facebook, and Netflix — the digital platforms rated by consumers to provide the best personalized experience, according to a recent report.
We define personalization as one-to-one marketing in the truest sense — one brand speaking directly to one customer. Personalization integrates customer information into a content delivery framework so that specific services or offers become highly relevant and highlighted accordingly.
Watch a short video about why personalized marketing matters:
It’s time to start getting more personal. Here are some personalization statistics to support that claim:
1. 79% of consumers say they are only likely to engage with an offer if it has been personalized to reflect previous interactions the consumer has had with the brand. (Marketo)
2. By 2020, 51% of consumers expect that companies will anticipate their needs and make relevant suggestions before they make contact. (Salesforce)
3. More than half of consumers (57%) are okay with providing personal information (on a website) as long as it’s for their benefit and being used in responsible ways. (Janrain)
4. 77% of marketers say real-time personalization is crucial; however 60% report it’s a challenge to execute. (Adobe)
5. Personalization works: 88% of U.S. marketers reported seeing measurable improvements due to personalization — with more than half reporting a lift greater than 10%. (Evergage)
6. 78% of U.S. Internet users said personally relevant content from brands increases their purchase intent. (Marketing Insider Group)
7. Calls-to-action (CTAs) personalized to individual visitors have a 42% higher view-to-submission rate than generic CTAs that appear the same for every visitor. (HubSpot)
8. Lack of content relevancy generates 83% lower response rates in the average marketing campaign. (Constellation Research)
9. Increasing personalization in more channels can increase overall consumer spending up to 500%. (The E-Tailing Group)
10. Personalization reduces acquisition costs as much as 50%, lifts revenues by 5-15%, and increases the efficiency of marketing spend by 10-30%. (McKinsey & Company)
What’s keeping you from getting personal?
With a little research, it’s easy to see the glaring gap between those companies who understand the value of personalization and the ones actually executing on it. Which one are you?
“OK, so what do I do next?” Read more in our magazine, RRD Connect: “The Personalization Plunge: Key Steps to Start Unlocking the Power of Relevance.”
Contact us to learn more about how personalized marketing can help your brand speak to individual customers in a more effective way.
This post was originally published October 25, 2017.