Power of Personalization
Personalization is the New Normal in Marketing
We do not like to admit it, but we all would like to see our name in shining lights or engraved on a diary cover or a Pen. It’s only human nature to feel wanted and needed.
Personalization is all about delivering greater relevance to customers and providing a richer experience by serving the right message on the right channel at the right time.
Personalization has been proven to increase return on investment, sales, and revenue and increase customer acquisition, loyalty, and retention.
Personalization is all about delivering greater relevance to customers and providing a richer experience by serving the right message on the right channel at the right time. Personalization has been proven to increase return on investment, sales, and revenue and increase customer acquisition, loyalty, and retention.
Some of the stats Showing the Power of Personalization –
– 91% of consumers say they are more likely to shop with brands that provide offers and recommendations that are relevant to them. – Accenture
– 83% of consumers are willing to share their data to create a more a personalized experience. – Accenture
– 90% of consumers are willing to share personal behavioral data with companies for a cheaper and easier experience. – SmarterHQ
– 70% of millennials are frustrated with brands sending irrelevant emails. – SmarterHQ
– 74% of customers feel frustrated when website content is not personalized. – Instapage
– 80% of consumers are more likely to make a purchase from a brand that provides personalized experiences. – Epsilon
Personalized Marketing: Effectiveness & Benefits
– It improves customer experience – Initially we were reluctant to share our personal information, but we are ready to share if we get some offers or benefits in return
– It helps drive revenue – By identifying and responding to a customer’s preferred channel and needs, marketers can increase ROI to their companies and with the help of the right automation technology also drive customer sales.
– It increases brand loyalty – As a business if we use this to our advantage and dedicate time and resources to implement successful personalized marketing strategies that will benefit not only us but also customers. When implemented successfully this will give you a competitive advantage in both brand loyalty and customer satisfaction.
– Engage more with your customer – Keeping our consumer engaged and connected throughout the process, keep him/her involved and connected to what you are doing.
Dear Bunty,
Very relevant and succinct article backed by key research findings from leading Customer-centric organizations. Personalization is an important and crucial aspect of successful Brand building through reinforcing Customer loyalties and improving Customer Connect with the emotional features of the Brand. Customers as you have rightly pointed out want a Rewarding and memorable experience with their chosen brand on an on-going basis and hence personalization becomes a relevant exercise.
Cheers
Srikanth Achar