Personalization Marketing – Are you using it?
It has been reported in studies that over 75% of online customers are frustrated when they visit sites that show no relation to their interests. Monetate has some interesting and telling stats regarding stats regarding companies that are successful and unsuccessful in their personalization efforts:
According to Monetate, 94% of in-house marketers surveyed see personalization of the web experience as ‘critical to current and future success’. Still, only 56% are taking advantage of personalization, of that only 4% claim that their sites are “very personalized.”
Part of this stems from the fact that around 72% of marketers say they understand the importance of personalization, but don’t know where to start and how to approach it. Between CRMs, cookie data, email subscription data, where does one begin?
Mark Fiske, Sr. Director of Global Digital Marketing at Ancestry.com, said, “When you don’t have one tool to rule them all, you have channel managers optimizing to a different view of the truth, creating disjointed messaging.”
Use of data relating to real time behavior on a site in generally agreed upon to be a winning strategy. Look no further than Amazon to see the king of this kind of marketing. Your login is created, your browsing and purchase behavior is captured all the way down to reviews read, products just glanced at, and there you are, the next time you enter Amazon you are greeted with a selection of offers ad products that is hand-picked just for you.
But what of the 56% of companies with little personalization? Or the 4% with none at all? Along with tracking real time site data, segmentation is key. Only 8% of companies use more than 10 segments. In order to pinpoint targets for true segmentation, many more are needed. Gender, location, time of day, products, interests, browsing time, age, sites visited, social shares, banners clicked, even weather… the list goes on, and everything on the list must be collected. The idea is to reach that one customer. With this data collected, a company can create a type of ID card, and through retargeting and emails both with a personal touch, reach the goal of market to one customer at a time, as it should be.
Data Sources: www.monetate.com | searchenginewatch.com | marketing-schools.org