Executives Are Stepping Up on Personalized Marketing
As other efforts become second nature, this strategy is still a work in progress
Marketers know that personalization is a must when it comes to engaging with consumers, but they just don’t have it down yet. That’s likely why 65% of executives worldwide polled by Forbes Insights and Gap International in October 2016 said they are implementing personalized marketing strategies as part of technology-driven actions to meet customers’ needs.
While most marketers have some degree of personalization in place, it’s not yet at a level that satisfies consumers. According to February 2017 data from Adobe Digital Insights, roughly one-third of internet users under 50 said they like personalized ads, but nearly as many said they weren’t good enough. Fortunately for this group, the Forbes/Gap International data suggests marketers are improving personalized marketing efforts.
Companies do appear to be further along in other marketing efforts, such as loyalty programs and omnichannel retail, considering that fewer executives surveyed by Forbes/Gap International said they are taking actions in these areas. Though less than a third of executives said they’re working on omnichannel shopping, for example, that doesn’t mean it’s not a priority for them. Rather, they’ve likely already taken steps to implement omnichannel shopping experiences for consumers.
“Omnichannel is now so fundamental that for most companies, it goes without saying. Most advanced companies already have engrained it in their overall strategy,” eMarketer analyst Yory Wurmser said.
According to the Forbes/Gap International poll, implementing an easy return policy was the lowest on the list of executives’ actions—by now, most companies have figured out how to make the return process simple.
—Maria Minsker
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