Here’s a deeper look at why personalization is such a powerful development in the world of marketing, and what brand leaders can do to ensure they make the most of the phenomenon.
Reduced campaign waste
Just like other lines of business, marketers hate waste, whether its missed opportunities or investments that don’t fulfill their value potential. Personalization is not only great for boosting customer engagement and loyalty, but according to Williams, it also helps marketing teams reduce the risk factors that lead to wasted campaign expenditure and expert resources.
Rather than blindly casting a wide net and hoping for the best, brands that take the personalized approach will see their results improve through continued application.
“When targeting at an individual level, marketers have much more control of testing,” noted Williams, who mentioned that close to 30 percent of Web traffic may be fraudulent. “This will drive better measurement of digital advertising spend and higher standards of accountability.”
Streamlined user experience
Omnichannel marketing is a trend that goes hand in hand with personalization, as the essence of a streamlined user experience lies in the power of choice and flexibility for the consumer. When marketers take a personalized approach to digital marketing, they’ll gain a much stronger understanding of cross-channel consumer behavior, and do so much faster than their competitors. This will give them the edge in two of today’s most powerful marketing trends, putting them at a significant competitive advantage in the long run.
As Williams pointed out in his article for iMedia Connection, brands need to take embrace omnichannel strategy as a driver of personalization, tapping into data from brick-and-mortar locations, call centers and other offline interactions. With a more cohesive set of data to draw from, a brand will quickly develop a winning cross-channel philosophy that differentiates the company from others in its field.
Stronger metrics and KPIs
The modern marketer’s dream is a campaign that is developed, tracked and managed using real-time data processed by highly customized analytics platforms. While this in-depth approach certainly paves a path toward stronger personalization, it is also fueled by tactics such as segmentation and experimentation.
In other words, marketers need to be proactive in both their campaign creation strategies and performance analysis to achieve the most profitable marketing outcomes. With the right software on their side, a team can tackle the task from all angles.