Will Personalized Marketing Ever Rule the Marketing Industry?
In today’s marketplace, customer engagement, loyalty and satisfaction rely upon personalization.
To understand why, consider the fact that not so long ago business interactions were largely conducted face-to-face. If you wanted to open a bank account, you went to your bank and sat down with a representative. If you wanted to buy a new refrigerator, you went to the appliance store and talked with a sales associate. Customers were able to ask questions and receive answers specific to their needs in real time. The whole exchange process was massively personalized because it was rooted in 1:1 interaction. Identifiers like name, location, age and preferences were just the beginning in terms of accessible customer data.
What’s more, because customers were engaging in person with a living and breathing brand representative, it was extremely easy to form a relationship. Those 1:1 personalized relationships had direct impact on brand perception, trust, satisfaction and loyalty, not to mention word-of-mouth referrals and organic testimonials.
Clearly this is a stretch from the world we live in today where ecommerce is standard and human-to-human interactions are scarce. While cloud-based transactions may be new norm, consumers still prefer a personalized experience.
So, to answer the question, “Will personalized marketing ever rule the marketing industry?” The short answer is: only if marketers are concerned with giving consumers the brand experiences they’re asking for.
Customers want personalized marketing, plain and simple. 75% of consumers are more likely to buy from a retailer that recognizes them by name, recommends options based on past purchases or knows their purchase history. 77% of consumers have chosen, recommended or have even gone so far as to pay more for a brand that provides a personalized service or experience. And 78% of consumers trust a brand more after they’ve received personalized content.
Conversely, 74% of customers feel frustrated when website content is not personalized. 63% of consumers are “highly annoyed” by the way brands continue to rely on the ineffective strategy of blasting generic ad messages repeatedly. 63% of consumers also say they’d think more positively of a brand if it gave them content that was more valuable, interesting or relevant.
Hearkening back to the days when 1:1 human interactions were standard, personalized digital marketing has the ability to deliver the relevant experiences consumers crave, efficiently and at scale. It’s a modernized approach to Main Street. As such, 90% of marketers see “individualization as the future of personalized marketing for products – moving beyond segmentation to true one-to-one personalization in a real-time context.”
Putting a Face (and a Voice) to Personalization
Part of the appeal of in-person transactions are that you can see and hear who you’re working with. Gesture, tone of voice, facial expression – these seemingly little things really make a big impact on purchase decisions. Psychologist Albert Mehrabian found that 93% of communication pertaining to feelings and attitudes is done nonverbally. This means when someone’s discussing a product or service they feel strongly about, anyone listening is going find more meaning in their body language (55%) and tone of voice (38%) than the literal meaning of their words (7%).
Traditional text-based digital marketing, even when personalized, doesn’t feed consumers’ predisposition for receiving audiovisual communication. (You may already know that 90% of information is taken in visually, and that ideas learned audio-visually are retained 68% more effectively than text.) That’s why we believe Personalized Video is the best way to create deeper, more meaningful and longer lasting brand relationships.
Personalized Video takes impersonal, dense or info-heavy communication – basically the stuff that no one likes sorting through — and turns it into a concise, visually rich personalized video narrative that actually engages it’s audience. It enables brands to engage with customers on an individual level, leveraging available data such as CRM data, customers’ social graphs or third party data. This data is then used to create a highly-relevant and unique 1:1 video experience for each customer to engage with. The result is as close to the loyalty-generating, face-to-face business transactions of long ago.
The magic of Personalized Video is that it enables each and every customer to feel like they have an individualized relationship with a brand, where they can actively ask questions and seek information and get answers specific to their needs. It might sound too good to be true, but it isn’t. In fact, companies have experienced a 335% increase in engagement after integrating Personalized Video into their marketing campaigns.
Don’t just take our word for it! See how these brands have seen success with Personalized Video…
- Barclays’ Personalized Onboarding Video was Nominated for a 2016 Drum Marketing Award
- How Music for Life Launched a Personalized Video Campaign with Idomoo in Just Over Two Weeks, Reaching a 79% Click-to-Open Rate
When it comes to retention marketing, personalized communication can be your greatest ally. We’ve created an infographic that will help you figure out How Personalization Can Boost Your Customer Retention. Simply click below to download it ==>