In today’s highly connected world, marketers have more information than ever when it comes to creating personalized experiences that cater to their customers. Addressable marketing, or the process by which marketers leverage device data to create an individualized customer experience, is the key to making it all possible.
In a world where 80% of customers say they are more likely to do business with a brand that has a personalized shopping experience, catering to the individual is more important, but also more attainable, than ever. The days of the shotgun-style marketing, where brands “spitball” different marketing messages to see what sticks, are long gone.
With tools like Salesforce’s Customer 360, the power of AI is at brands’ fingertips like never before. With tools like this, customers can engage in chats with representatives who are fully briefed on all the nuances of that customer’s purchase and interaction history. No more digging through your email for a purchase number.
Other tools such as OptinMonster allow businesses to target viewers with personalized messages when they try to browse away. These exit-intent popups can present customers with custom offers based on their behavior on the site.
Marketers have more tools than ever in crafting a personalized customer experience, but why aren’t more doing it? Individualized campaigns are only up 30% across the industry as compared to generic emails. This can be attributed to the risks associated with poorly executed personalization. When not implemented correctly, marketing personalization can actually have a negative effect on customer perception.
With 63% of customers reporting that they stop purchasing products from those brands whose personalization efforts miss the mark. What’s worse, sometimes customers can find personalization efforts downright creepy.
In a world of GDPR, concerns over data privacy will likely continue to be an issue, as they well should. Brands should use this opportunity to create trust with their customers by creating transparent opt-in policies that are clear about what they will be using data for.
With new tools at their disposal and the opportunity to have a more mutually beneficial conversation with their customers, the 2020s will be the decade that marketing personalization takes off in earnest with more consumers embracing it as the standard operating procedure. How will your business answer the call?