The future of marketing is coming faster than expected!
Marketing personalization is taking the internet by storm, from companies like Amazon and Target using predictive analytics to guess your next purchases based on order history — to that influencer you follow on Instagram using sequential marketing to get you to buy a product.
Personalized marketing is everywhere, and, according to several studies, is a necessity for some consumers. Here are some statistics that prove that personalization is going to be vital for businesses of all sizes in the (very near) future.
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Consumers Want You to Anticipate Their Needs
According to Salesforce, people have come to expect personalization that anticipates their needs and gives relevant offerings.By 2020, 51% of consumers expect that companies will anticipate their needs and make relevant suggestions before they make contact. Click To Tweet
It’s worth noting that we’re getting ready to help businesses out with our spreadsheet-to-video, that is able to get all of a users’ behavioral data to send out personalized videos that best match their wants and needs. Subscribe to our newsletter to get more details and updates!
More Likely to Buy When Messaging is Personalized
If a customer is getting a personalized experience from the get-go, they are more likely to buy at first interaction.
More importantly, if you upsell or offer more relevant offerings, consumers will buy again.
Personalized Emails Message Has a Strong ROI
Put simply, personalized emails have higher transaction rates. Try setting up a sequenced email marketing automation strategy that will drive people back to your offerings.
It should also be noted that (with a good email marketing strategy) for every dollar spent on email marketing, there’s a return of $44.
Consumers Would Actually Like More Individualized Messages
The fact of the matter is that people actually want to receive messaging that is tailored to them. So much so that some even want even more personalization from companies.36% of consumers believe that brands should offer more personalization in their marketing. Click To Tweet
No Relevant Suggestions? Consumers Will Go To Amazon
If you have an e-commerce site or online store and want more business, it’s best to find ways to offer suggestions that will follow users across the web.47% of consumers will go to Amazon if the brand they’re shopping with doesn’t provide relevant product suggestions. Click To Tweet
If you need some more pointers on getting your e-commerce store up and out there some more, read the following post to get some tips and tricks about increasing the sales volume for your store:
Poor Execution Will Stunt Your Personalized Marketing Growth
When setting up your personalized marketing initiative it’s best to be mindful of the execution. If not done right, your customer will drop off.63% of consumers stop purchasing products and services from companies who provide poorly executed personalization. Click To Tweet
Make sure to run tests and measure everything in a marketing automation tool.
Increase Purchase Intent
Aside from having ads, videos, and e-mails for your prospective and current buyers, you can look at utilizing different forms of online media that speak to your audience.78% of U.S. Internet users said personally relevant content from brands increases their purchase intent. Click To Tweet
Being that we have one of the most flexible video solutions out in the market, it’s best to invest in video to complement your current marketing strategy, along with your personalization strategy. Here’s a post that goes a bit more in-depth:
Some Consumers ONLY Buy From Brands With Personalized Marketing Messaging
This past year alone, nearly 3/4th’s of all consumers admitted to only dealing with companies and brands that had personalized messaging.72% of consumers in 2019 only engage with marketing messages that are customized to their specific interests. Click To Tweet
If you’re looking for different ways to ramp up video promotion and start using personalized videos as a part of your overall marketing strategy, check this post out:
On Top of That, Customers Went As Far To Say They Get Frustrated When Content Isn’t Personalized
So consumers are less likely to purchase from brands that aren’t using one-to-one marketing tactics, and will actually go as far as to say that they get frustrated by not getting an “experience” from the brand.74% of customers feel frustrated when website content is not personalized. Click To Tweet
Retail Is Investing In Personalization More Than Any Other Industry
Though the news says a lot of major retailers and department stores aren’t doing too well, is that their stores are closing down at an alarming rate; they’re actually going through a digital transformation.79% of digital marketers in retail are investing in personalization tools, more than any other industry. Click To Tweet
Whether it’s a massive retailer or a boutique, the focus has gone from having an in-store experience to now having an integrated marketing approach that intertwines the store experience with the digital. Some are succeeding and, unfortunately, have been slow to adapt.
Marketers Are Already Seeing The Benefits
The marketers that have adopted personalized video marketing have seen a massive improvement in things like ad spend, user acquisition, and revenue.88% of U.S. marketers reported seeing measurable improvements due to personalization. Click To Tweet
When you start your marketing personalization strategy, be sure to send key performance indicators that’ll allow you to track and measure your personalization strategy.
Test Out Personalizing Your E-mails
Simply adding someone’s name to a subject line will improve email click rates. When an e-mail is personalized to individuals’ preferences, the open rates and sales tend to improve.82% of marketers have reported an increase in open rates through email personalization. Click To Tweet
Promo Marketing Emails Lead to More Opens
Video promotions naturally perform well. Though the videos aren’t always embedded in the e-mails, it still gets a better reaction from the end-user, because it gives them something to engage with.Brands that personalize promotional marketing emails earn 11% higher open rates than those that don’t personalize. Click To Tweet
Use different tactics to personalize your e-mails and engage your users even further. Remember, having an individualized e-mail is one thing, but having a high-converting e-mail is another.
Bump Up Sales With a Fully Integrated Experience
Creating an end-to-end “experience” is nuanced and needs some time planning, but when done right, you can see a significant bump in sales.In-house marketers who are personalizing their web experiences and who are able to quantify the improvement see, on average, a 19% uplift in sales. Click To Tweet
In-house marketing teams are not only improving and optimizing their overall marketing strategy but making sure that every aspect of the funnel can be tweaked up to the individual needs a whole team (including sales and customer success) to have buy-in and find ways get the buyer through the finish line.
Creates A Positive Experience
Marketing is now about evoking emotion and getting consumers to buy into an idea. A company’s mission and goals are now just as important as the products they offer.87% of consumers surveyed say that personally relevant branded content positively influences how they feel about a brand. Click To Tweet
When brands have content that is relevant to a person’s interests, they’re more likely to follow the company throughout the internet and purchase from them.
Improves Word of Mouth & Referrals
Aside from having a significant uptick in sales from an individual buyer, personalization will improve the odds of a consumer promoting your brand and company.77% of consumers have chosen, recommended, or paid more for a brand that provides a personalized service or experience. Click To Tweet
If you’re a software as a service, it is best to also track things like a Net Promoter Score or NPS Score, which will allow you to see what customers want to see from your company and product. You’ll have enough quantitative and qualitative data to make decisions.
Any Personalized Experience Bumps Sales Up
So far, businesses are all seeing a significant bump after instituting personalization tactics. Being that it’s a relatively new form of marketing, this data is coming from true, early adopters.Marketers see an average increase of 20% in sales when using personalized experiences. Click To Tweet
However, the fact that the average increase in sales was about 20% it’s proven to be successful — and now is the time to invest, considering that it’s not commonplace.
No Relevancy. No Opens.
When sending out e-mails or any other method of using personalized content, people will not click through or respond to a marketing campaign unless it’s tailored to their interests.Lack of content relevancy generates 83% lower response rates in the average marketing campaign. Click To Tweet
So, when starting up your personalized content strategy, it’s best to think and about the end-viewer or reader — if you use Raw Shorts, you’ll be able to create videos tailored to the audience — and make sure that they are relevant to the demographic.
Real-Time Personalization Is Crucial
Real-time personalization is able to automatically deliver tailored content to individuals that are visiting a site. Perhaps you’ve visited once and looked through different filtred catalogues — that kind of data can be used to deliver the right offer for you then and there.
The real beauty of real-time marketing is that you don’t need consumers to go through all the different top-of-funnel communications to find out what they really want. It’ll inform them right then and there.
Millennials Want Retailers to Target Them
The most-hated demographic (millennials) are infamous for “killing off” traditional services, brands, and items — thanks to crippling debt and horrible living situations.
But if there’s one thing that millennials love, is getting a great experience when they buy things.70% of millennials are willing to let retailers track their browsing and shopping behaviors in exchange for a better shopping experience. Click To Tweet
Contrary to popular opinion: millennials are more likely to give brands their data so that they can get more relevant product suggestions. It’s best to get this demographic with a strong personalization strategy to keep them around for a long time.
Personalization Is a Top Priority
Nearly half of marketers out in the U.S. say creating that one-to-one experience with their customers is the primary focus this upcoming year.51% of digital marketers say that personalization is their number one priority. Click To Tweet
Obviously, there’s been a ton of researching backing the use of personalization, and progressive marketers want to be able to continue fueling their marketing engine with the latest and greatest technology to close deals. Now is the time to start investing in personalization.
Reach Consumers at The Right Time In The Right Place
Sometimes, it’s just a matter of offering the right thing at the right time. This is the real beauty of having situational data ready to use.81% of consumers want brands to get to know them and understand when to approach them and when not to. Click To Tweet
Situational data is the bedrock of a personalization strategy — this type of data will allow you to see all of your customers’ behavior and enable you to get crafty with your data to send the right thing at the right time.
What Are Your Thoughts on Marketing Personalization?
Are you or your organization looking to invest in marketing personalization?
We’d love to help you get up and running with our data-to-video workflows. Contact us, and we’ll help your organization to improve its ROI on different marketing initiatives.