Personalization has completely changed marketing strategies and today’s consumers are increasingly looking for personalized experiences in many of their brand interactions. Delivering the types of personalized experiences consumers crave requires a fine balance of using both data and technology to understand consumers and communicate with messaging they are most apt to respond to. However, not using personalization strategies effectively can leave your brand falling short of showing customers you care or on the other side, coming off as a creepy marketer by knowing too much.
So what types of personalization are consumers looking for and how effective are personalization techniques?
The Power of Personalization
You may have seen the statistics, but the power of personalization never fails to impress. Check out this array of statistics from various research studies across the web:
In recent research from Innovid, 40% of consumers have made a purchase in 2020 as a direct result of a personalized ad. Respondents said they were more likely to click on a number of ad types if they were personalized:
Additionally, 32% of consumers like personalized ads, but 3 in 10 like brands more when they personalize ads. A further 43% of respondents agree that it’s important that ads are personalized.
Consumers also appreciate context in their personalized ads. Approximately 4 in 10 (39%) like ads that speak to the context of the moment such as the website they’re on. A further 3 in 10 (31%) appreciate ads that use their demographics for personalization and 29% want to see behavioral ads that understand their online activity and preferences.
Consumers are most receptive to personalized ads in retail.
Channels consumers prefer to see personalization in include:
When it comes t sharing personal information, 23% of consumers stated they are more willing to share their information with brands than they were 1-2 years ago. In fact, consumers are most willing to share their personal information to receive ads that are more relevant based on:
What can brands do to make consumers feel more comfortable sharing their data? 35% of consumers stated they would like to dictate data collection preferences and 12% want brands to share their official data collection policy.
Personalization During Covid-19
Personalization tactics were more straight-forward prior to Covid-19. While the same tactics haven’t changed such as techniques based on past purchase history or browsing preferences, consumers are looking for additional types of personalization that takes into account the current economic climate.
Brands need to be relevant, useful and in context with your customer’s situation and needs. Re-examine your customer segments and personas. For example, did your pre-Covid segments assume older generations did not purchase on social media? Look again because much of this is changing. Or perhaps based on past purchase history, “back in stock” notifications would be appreciated. Ensure you are investing in personalization strategies for the long-term and are positioning your brands to take advantage of new opportunities.
Download V12’s Customer Experience Success Kit for access to some of our most informative resources on customer experience marketing trends, strategies and tactics. The most convenient way to research, this success kit contains topic focused blogs, webinars, white papers, case studies and more – all with one download.