Personalized content increases marketing spend efficiency by 10 to 30 percent. Eighty percent of marketers say personalized content is more effective than cookie-cutting campaigns (Demand Metric). Personalized marketing is a more cost-effective strategy than traditional advertising. When you send a general ad, a certain percentage of the audience won't use the product.
The return on investment (ROI) is limited. Some of the most successful brands in our industry use personalization to increase customer engagement. Using data gleaned from what customers buy, view, or search for, these marketers produce personalized messages, recommendations, videos, and more to keep them engaged. Let's start with some personalization statistics to help you understand the benefits of personalization.
Other examples of increasing customization are Snapchat geofilters and games, Twitter accounts dedicated to individualized customer support, and, recently, Instagram's newest emoji slider feature, which allows account holders to poll their followers. It goes without saying that the ability to hire and develop the talent of translators will provide a significant competitive advantage in developing cutting-edge customization capabilities. Martech engineering must provide the team with the necessary capabilities, including cybersecurity systems capable of keeping pace with the expansion of personalized experiences. When you personalize your marketing, you send the right message to the right people at the right time.
After all, it's harder to do that and when you personalize your messages too much, you could lose the attention of a larger group of people. More than 40% of consumers say they would like to become repeat customers of a business that offers a personalized shopping experience, and 80% of self-identified repeat shoppers only buy from brands that do. Personalization impacts your customer service, product development, and virtually every aspect of your business, as long as you're willing to apply it. While some argue that personalization should only take place after the end viewer has consciously provided information to the company, other companies use anonymous data, such as the location attached to the viewer's IP address, to target viewers by location.
Many marketers recommend creating shoppers (profiles of your audience based on customer data) to better understand your market. With so many brands embracing technologies and personalization strategies, it's clear that it will play an important role in the future of marketing. You need to know how willing your customers are to share their information, when to collect it, and when to send personalized messages. You should clearly show the value you provide with personalized content and avoid aggressive targeted ads.
Good personalized marketing makes customers happier, increases brand loyalty and improves profits. Let's dive deeper and learn more about how to personalize marketing to drive more results for your business. McKinsey research shows that personalization reduces acquisition costs by up to 50%, increases revenue by 5-15%, and increases marketing spend efficiency by 10-30%.