What is Personalized Marketing & How Can You Excel at It?
Personalized marketing is the implementation of a strategy by which companies deliver individualized content to recipients through data collection, analysis, and the use of automation technology.
The goal of personalized marketing is to truly engage customers or prospective customers by communicating with each as an individual.
Here are numerous advantages of personalized marketing, for both businesses and consumers. When strategies are implemented successfully, the following benefits come into play:
Improved Customer Experience. Customers are more comfortable providing personal information to their favorite brands if they get something in return. They fill out forms, download whitepapers, participate in surveys to get discounts, and indicate their favorite purchases or preferences. So, what’s the catch? With all of this customer data being offered, the consumer expects brands to protect any sensitive information and offer more personalized experiences when they come back.
Drive Revenue. By identifying and responding to the preferred channel for each customer, companies can increase ROI. With the right automation technology, marketers can identify which channel customers engage with, then automatically follow up across channels as part of an omnichannel approach.
Increase Brand Loyalty. When consumers provide information and data, they expect to be treated as unique individuals with specific preferences. Businesses that dedicate time and resources to implement successful personalized marketing strategies will benefit from a competitive advantage in both brand loyalty and customer satisfaction.
Create Consistency Across Channels. Consumers are interacting with brands across a number of channels, including email, social, mobile, etc., sometimes all in a single day. For this reason, it’s more important than ever for brands to create consistency across various channels. The in-store experience should match the app experience, which should match email messaging.
Let's Learn How to Excel Personalized Marketing
Compare: To start, if you’re not using any kind of content personalization engine, you should be. If you are already leveraging a personalization platform, make sure to compare your existing solution against any other that claims to offer more value.
Capture : Typically, the implementation of this type of solution is fairly easy (requiring only a few lines of code on your webpages). Once code has been added to your website, you can start capturing data, including clicks, time on site, abandoned shopping carts, purchase history, and much more.
Analyze : Capturing data, building analytical capabilities, and developing adaptable websites are all beneficial to an organization, but they are most valuable when fully synchronized with each other. After just a few short weeks, your personalization solution should be able to provide relevant content recommendations to customers. This is when you should run an A/B test to validate the performance of your system vs. control.
Act: Data collection and analysis inform your marketing decisions, but you should still let the machine do the heavy lifting. Don’t play with the calculation method more than necessary (for example new promotions, out-of-stock products, etc.)
Examples of Personalized Marketing Campaigns
Nowadays, the average consumer is fully expecting personalization in every campaign your brand runs. Here’s a look at some examples of personalized campaigns that can lead to a great deal of success.
Marketers are using personalization to jumpstart their email campaigns. Through personalization, marketers can create and send individualized emails to a specific group with certain needs.
Getting a better understanding of your audience is key to increasing the relevancy of email content. One way to start collecting customer information is through sign-up forms. When someone signs up, they would fill out a questionnaire with details about themselves that could range from their birth date to particular interests. For example, a clothing retailer might send emails based on age and interests to potential customers to determine what clothing styles they would like best. Want to learn more about this? get in touch with experts at Granddad Communications.