Most Marketers Worldwide Have Personalization Strategies in Place
Customers have come to expect personalized marketing experiences across devices and channels. The good news is most marketers are in some phase of implementing a strategy to personalize campaigns and experiences—and this is happening worldwide.
A December 2016 study from Monetate, which surveyed senior marketers from companies headquartered in Asia-Pacific, Europe, the Middle East and Africa, North America and South America, found that 56% of respondents are in the process of implementing of a personalization strategy, while 28% are just starting out.
Only 6% are in the advanced stages of implementation, meaning most marketers still have a way to go.
Among those senior marketers who were implementing personalization strategies, nearly nine in 10 used a lookalike advertising platform, while about eight in 10 engaged in relationship building based on clients’ digital data to optimize in-store experiences. Two-thirds used dynamic content generation, and 73% used real-time chat.
Research shows that personalizing experiences pays off. In an October 2016 study from OneSpot and Marketing Insider Group, 59% of US internet users agreed that content customized for them increases their purchase intent somewhat, while another 19% said it significantly increases their intent to buy.
Additionally, Monetate found that 79% of senior marketers worldwide who reported exceeding revenue goals had a documented personalization strategy in place, compared to only 8% of those who missed their revenue goals.
Despite the value that personalization may offer marketers, implementing these strategies is often easier said than done.
According to Monetate’s research, marketers who want to implement personalization strategies face challenges such as organizational constraints; automating decisions at scale; and building a contextualized, real-time view of customers.