The exciting promise of personalization
Previously, I talked about the importance of being proactive with your online presence. Тhis article will focus on why personalization is crucial for it.
Technology is making customers more and more impatient. A marketing message has only a few seconds to catch their attention and lead to conversion.
Personalization — without bypassing data privacy — is a marketing approach that can address the client’s desire for instant gratification and the business need to increase conversion rates and loyalty.
Easing a client’s journey in the era of digitization
Making the right offer at the right time is a demanding process. Yet, you should do it by any means. According to recent research, 72% of consumers only engage with personalized marketing.
Amazon is the guru of personalized marketing. The company gathers a plethora of data on its users (their age, location, gender, income, browsing and purchasing history) to generate relevant personalized advertising unique to each user. Everyone is happy: customers get exactly what they want, while the retailer boosts its sales.
The way that the content is properly tailored to each advances engagement, deepens connections, and increases sales. When executed correctly, customised targeted emailing campaigns, video messages, product recommendations, and even landing pages reduce acquisition costs by as much as 50%, lift revenue by 5 to 15% and increase marketing efficiency by 10 to 30%.
Personalization is also an important part of account-based marketing (ABM) as B2B companies usually focus their sales and marketing efforts on a list of selected clients.
For brand marketers, ABM can turn into audience-based marketing, which means building a personal buying journey for every customer.
A personalization hint
A business is 100 times more likely to connect with a client when responding to them in under 5 minutes as opposed to a 1-hour wait. What’s more, they are 21 times more likely to turn such clients into leads.
Investing in a personalization tool such as a website chat module can help you ensure the desired response time.
Analyzing customer data is the bread and butter for business owners and marketers. Most buyers are fine with you gathering certain data about them as they expect to get a personalized offer in exchange for it. This works best for omnichannel businesses as they can use their online customer data to influence the buying decisions of their clients offline.
Yet, you should be careful. 86% of consumers have said to be concerned with their data privacy. So, be sure to ask your users for permission to gather their personal data every single time.
You should always be specific about the ways in which customer data will be used and how the customer’s privacy will be respected. It’s a nice idea to take care of your data security as well.
A fundamental part of individualizing is treading lightly on the way in which it operates — one cannot undermine the importance of not coming off as creepy and intrusive.
The good news is that you don’t need much information to create a perfect personalized message. Just make sure you don’t show as a stalker.
If done right, personalization will help accelerate and strengthen the connection between you and your customer.
The multifaceted positive impact of personalized marketing on both the business and the client underscores that this strategy can become one of the greatest assets that your business has to offer.
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