Blog-Image-2.26.2019

Does one size ever really fit all? (The one-size winter sports beanie I got my husband for the holidays barely fit our toddler! Just sayin’…)

This all-encompassing sizing and approach – while hit-or-miss in terms of apparel – is definitely a “miss” when it comes to digital experiences. Every company has an audience that’s composed of individuals – all with unique preferences, needs, intent, histories and other attributes that necessitate personalized, rather than cookie-cutter, communications to drive genuine engagement.

A Dec. 2019 report from Forrester notes: “Personalization – delivering the right experience to the right customer at the right time – is not easy, but it’s de rigueur for companies that wish to thrive in the age of the customer. … It’s important to remember that customers are individuals that yearn for more personalized interactions. Be equipped to deliver the next-best experience by ingesting signals across the customer journey and tailoring your customer experiences accordingly.”

Looking for more info on why personalization matters – and how and why it works? The following 30 statistics – including from Forrester and other research firms and organizations – illustrate the power of personalization strategies, approaches and technologies.

Personalization is Top-of-Mind

1. “Personalization” was selected by ANA [Association of National Advertisers] members as the ANA 2019 Marketing Word of the Year. (ANA)

2. 73% of CEOs acknowledge the need for products, services and experiences that are more meaningful to their customers. (Accenture)

3. 74% of marketers think personalization should be a bigger priority in their organizations. (Evergage and Researchscape)

4. 48% of global B2C marketing decision-makers with marketing budget for technology said they would increase their spend on content and personalization technologies in 2019. (Forrester)

Generic Content is a Turn-Off

5. 84% of customers say being treated like a person, not a number, is very important to winning their business. (Salesforce)

6. Nearly three-fourths (74%) of online consumers get frustrated with websites when content (e.g., offers, ads, promotions) appears that has nothing to do with their interests. (Janrain – now Akamai)

7. 63% of consumers expect personalization as a standard of service. (RedPoint Global and Harris Poll)

8. Nearly half (45%) of consumers won’t spend time with branded content if it’s not relevant to their interests. (OneSpot and Marketing Insider Group)

9. 52% of customers are likely to switch brands if a company doesn’t personalize communications to them. Meanwhile, 65% of business buyers say they’re likely to switch brands if a vendor doesn’t personalize communications to their company. (Salesforce)

10. 55% of business buyers (and 54% of consumers) say they get annoyed if they’re targeted for an ad for something they’ve already bought. (Salesforce)

11. Half (50%) of Millennials and Gen Zers say they generally ignore communications from companies unless they’re personalized for them, and 73% expect companies to communicate with them in real time. (Salesforce)

12. 33% of customers who abandoned a business relationship last year did so because personalization was lacking. (Accenture)

Buyers Want (and Expect!) Personalized Experiences

13. 69% of business buyers expect Amazon-like buying experiences – such as personalized recommendations. (Salesforce)

14. 50% of consumers say that they would pay more for products and services from brands that do a good job of providing personally relevant content. (OneSpot and Marketing Insider Group)

15. More than 78% of consumers are only likely to engage with a brand using coupons or other offers if those promotions are directly tied to how they have interacted with the brand previously. (Marketo)

16. 64% of customers expect tailored engagement based on past interactions. (Salesforce)

17. 73% of customers expect companies to understand their needs and expectations. (Salesforce)

18. 62% of customers expect companies to adapt based on their actions and behavior. (Salesforce)

19. 80% of U.S. online adults feel comfortable sharing some personal information with retailers in order to personalize their experience. (Forrester)

20. More than one-third of U.S. online adults want retailers to do more to offer them personalized experiences. (Forrester)

21. 70% of customers say understanding how they use products and services is very important to winning their business. (Salesforce)

Personalization Trends

22. 4 in 10 marketers (40%) employ machine-learning personalization, using artificial intelligence (AI)-based algorithms and predictive analytics to dynamically present recommendations and experiences at the 1-to-1 level. (Evergage and Researchscape)

23. Digital marketers today employ personalization in their emails (78%); on their website (58%); in person, such as through store associates and kiosks (42%), in online advertising (35%); and in their mobile apps (28%) and web apps (19%). (Evergage and Researchscape)

24. Marketers report personalizing content and experiences based on campaign source (49%), pages/content viewed (35%), email opens (34%), products purchased (33%), email clickthroughs (32%), demographics (32%), clicks (30%), geolocation (28%), stage of customer journey (27%) and previous visit behavior (26%). (Evergage and Researchscape)

Personalization Drives Results

25. 90% of marketers report a measurable lift in business results, attributable to personalization, and 58% say that lift is greater than 10%. (Evergage and Researchscape)

26. Nearly all marketers (98%) note that personalization advances their customer relationships – with 7 in 10 (70%) describing the impact as “strong” or “extremely strong.” (Evergage and Researchscape)

27. In 2018, $87.5 billion in sales were influenced by personalized offers that resulted in consumers making a purchase they did not otherwise intend to make. (451 Research)

28. 80% of consumers are more likely to make a purchase when brands offer personalized experiences. (Epsilon)

29. Personalization can deliver five to eight times the ROI on marketing spend and lift sales 10% or more. (McKinsey)

30. Personalized emails generate 6X higher transaction rates. (Experian)