Imagine, if you will, a world without marketing personalization. A world where, regardless of how many times you interacted with a company, no matter how frequently you set preferences and shared data about yourself, you weren’t treated like an individual. Heck, you were never even remembered.
For some companies who don’t care about creating relationships with their customers, this is the reality they deliver to people every day. There’s no brand connection, no “thanks for your business” or incentive to shop again. Customers, in return, look elsewhere for better service.
But, of course, this isn’t you. You want to offer your customers a unique, data-driven, individualized brand experience that delivers incredible solutions and simply makes life better. It’s why you’re here reading this blog post. It’s why we’re talking about marketing personalization.
Here’s the Good News
Did you know that 73% of consumers prefer to do business with a company that leverages user data to make the shopping experience more relevant? And the great thing is that 63% of millennials and 58% of Generation X consumers are open to sharing their personal information with brands in exchange for targeted promotions, offers, services and product suggestions.
It’s because people are busy. Most individuals don’t have an endless amount of time to hunt for unexpired coupons or the perfect blue princess sweater for their fussy six-year-old daughter. A personalized shopping experience that can anticipate consumers’ needs, therefore helping them save time and maybe even a little money, is a hugely appreciated thing. The top three motivators for shoppers are discounts (75%), free shipping (74%) and relevant product suggestions (68%). Any customer experience built around these simple conveniences is going to generate long-term loyalty.
The Power of Cross-Channel Marketing Personalization
Google reports that 90% of consumers operate across multiple devices when making a purchase. Why is this important to keep in mind? Because 52% of shoppers admit to consciously buying more when a shopping experience is personalized across channels.
Ideally you want your customers to be able to begin shopping on their phone during their commute home, for example, and then pick the search back up on a laptop after dinner and finally make a purchase from their tablet before they go to bed – all the while having a seamlessly intuitive shopping experience that’s mirrored on every device. By using CRM, retargeting platforms and intelligent automation, new data can be leveraged to continuously anticipate customer needs and encourage engagement.
It goes back to efficiency and making people’s lives easier. 86% of consumers say personalization plays a role in their buying decisions. Don’t make someone start the purchase process from square one just because they’ve switched devices. Reward return visits by showing that you’ve learned a little bit more about a customer after each interaction they make with your brand.
To be clear, an optimized customer experience isn’t just a nice thing to offer, it’s a necessity for business success. That’s because positive experiences breed loyal customers, and loyal customers are a valuable commodity.
83% of loyalty program members say that relevant rewards make them more likely to continue doing businesses with a certain brand. In fact, brands have reported that personalization can deliver 5X to 8X the ROI on marketing spend.
Personalized Relationships Matter Even in the Digital World
A world without marketing personalization would be like living in a town where no one took the time to learn your name or to get to know you -- reminding the same barista every morning that you take soy milk in your coffee or having to repeatedly send a note to school to say your child is allergic to peanuts. Not only would it feel like you don’t matter, it would be massively inefficient and potentially disastrous.
The same is pretty much true of ignorant digital marketing practices. When you don’t take the time to make your customers feel like important individuals, they’ll look elsewhere for a better experience. And the annual cost of churn in the US due to poor customer service? $1.6 Trillion.
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