The most surprising thing about today’s content personalization tech isn’t what it can do, but how much consumers are demanding it.
Harris Interactive found 74% of consumers are frustrated by irrelevant marketing content. And according to O2, 56% said they’d gladly purchase a product or service from a company that personalizes their marketing.
With this level of opportunity, it’s surprising that only 57% of marketers want to implement content personalization. So what are the benefits of tailoring site, email and other content to the specific interests of consumers on a 1:1 basis?
Higher response and engagement 56% Timely, relevant interactions 47% Greater customer affinity 44% More customer conversions 43% More persuasive communication 43% Brand differentiation 40% Higher loyalty and retention 40% Better consumer recall 39%
Source: The CMO Council
Gartner predicts that companies institutionalizing content personalization will see a revenue increase of 15% by 2018. Of those who already personalize content, a whopping 94% say it’s a key component of their success.
That said, a recent survey conducted by The CMO Council revealed the number of those pessimistic about or neutral towards content personalization is roughly the same as those who are optimistic about it (25% vs. 26%). What’s the source of this doubt?
Lacking needed technology 59% Bandwidth/resource issues 59% Lacking needed data 53% Highly difficult 28% Doesn’t understand benefits 14% Not technologically advanced enough 6% Tried, but didn’t see results 6% Not focused on content marketing 4% Doesn’t have a need 4% Other 6%
Source: Demand Metric
OneSpot customers, however, have seen encouraging results with their initial content personalization efforts. Late last year, a national retailer began to personalize its email program and was surprised by the strong response.
CTR increase Open rate lift Response rate increase 25% 200% 190%
When marketers at large were polled about how the customer experience impacts business success, 54% said it’s essential and another 29% said it’s becoming increasingly important. With retention rate improvement stated as the #1 metric (69%) and acquisition rate improvement being the #2 metric (62%), content personalization seems like a no-brainer once you know how well it performs.
If 33% of marketers don’t plan to adopt content personalization, they’re seemingly giving an edge to those who do. If your competitor isn’t taking the necessary steps to make their marketing more relevant, transform their liability into an advantage by doing what they’re not.