New research shows that 70% of companies that use advanced personalization are seeing 200% ROI or more. For marketers, this is an incredible opportunity to drive business growth and establish the value of marketing for your business.
Personalization in marketing is a strategy that can be integrated into different types of marketing channels such as email, blog, social media, and advertising to achieve better results. Personalized marketing involves gathering customer data and then crafting a tailored marketing experience and content that targets specific customers.
According to ‘The Rise of Personalized Commerce’ study, about 34% of North American companies are now using advanced personalization tactics across their entire customer journey to improve the customer experience with their digital marketing programs. Companies with a clearly-defined marketing-led personalization function were 38% more likely to earn 400% ROI or more than their counterparts.
There are many ways to leverage advanced personalization strategies in your marketing. We’ve offered a few strategies below for consideration:
- Invest in customer data and analytics foundations: Personalization isn’t impossible if marketers don’t have the means to understand the needs of high-value customers on an ongoing basis. Marketers need to develop the right systems that can pool and analyze customer data, identify behavioral patterns, and the analysis capabilities to inform optimal customer engagement. This data allows you to dynamically modify the experience to decrease friction and clutter while increasing usability.
- Choose your segments wisely: Segmenting is only as effective as the accuracy of the customers you choose. While there may be a lot of segment options available based on your industry, persona, or customer lifecycle, choose the one that defines your customer audience most strongly and helps drive a deeper psychological connection.
- Create a unique message for each audience: Messaging should be tailored for each segment with a message that resonates and influences target audience behavior.
- Consider empathy, the ability to relate to and understand another person’s emotions as this is the basis of building a strong relationship.
- Make a hypothesis for marketing that you can test: Testing is key before you start launching personalization marketing campaigns. Marketers should first have an understanding of their target customer segment, marketing funnel, and conversion points from prospects to customers. Consider running tests before launching personalization strategies, and experiment to see what works best to determine the winning strategy and messaging that will advance business goals.
- Shift from traditional campaign activities to omnichannel strategies: There are many ways to deliver a seamless omnichannel customer experience. Marketers should define their omnichannel personalization channels based on objectives, customer needs, and resources. For Krispy Kreme, Intermark leveraged digital marketing including personalized email, web, and social media, as well as targeted content and personalized offers to drive sales and build brand affinity with customers.
- Work with the right software company. Choosing the right software partner who has the expertise to develop personalization that’s unique to your business model and leverages real-time user interaction data with your products, services, and content is the only way to assure success. Most web and app development companies do not have this ability.
- Measure the impact of personalization strategies and optimize for success: When embarking on personalization strategies, brands should identify a KPI they want to focus on improving through marketing. Metrics may include long-term metrics like customer lifetime value and/or short-term metrics such as customer acquisition. Brands should routinely evaluate their strategies to identify challenges and opportunities for improvement, and of course celebrate their wins.
We’re happy to help with your personalized marketing opportunities here at Intermark. Just give us a call at 800-624-9239 or email us at [email protected].
