Long gone are the days of one-size-fits-all marketing campaigns. Today, consumers demand relevant content, offers, and experiences that meet their specific needs across all channels and devices throughout the customer journey. Personalization is the key to delivering these experiences that are world class for the consumer and deliver value for the business. Capturing this value requires mastering a range of technologies and overcoming organizational disconnects.
The top challenges to executing on personalization at scale include identifying the right data, integrating data silos, and ensuring consistent and accurate targeting across all touchpoints. These challenges can be overcome by leveraging technology that is readily available on the market. This includes a content management system (CMS), customer data platform (CDP), digital asset management (DAM) solution, and personalization engine.
These solutions are a critical part of an end-to-end personalization strategy that is designed to deliver on the promise of creating high-value experiences for each and every customer. By integrating these tools and ensuring their effectiveness, marketers can drive tangible business outcomes like growing customer lifetime value (CLTV) and reducing operational marketing spend.
When marketers get these tools in place, they can focus on designing and implementing the personalized experiences that will meet customer expectations. These personalized experiences will not only provide an advantage against the competition, but they will also increase a brand’s bottom line. 451 Research estimates the revenue boost from 1:1 product recommendations and cross-selling is $5.6 billion, while Adobe suggests 1.7x YoY revenue growth for brands that use personalized content effectively.
Taking it up a notch is the use of personalized messaging on the actual packaging of a purchase. In this campaign, a printing company in Orlando used an innovative strategy to build brand loyalty. Rather than simply printing the consumer’s name on the package, they included it on a sticker that was placed inside of the box. This personalized touch is a great way to build ongoing brand loyalty with a loyal shopper.
While personalization isn’t easy, the rewards are tremendous. By focusing on the customer and implementing a strategy that drives the right data into the business at the right time, marketers can deliver on the promise of personalization and drive significant revenue gains. To overcome the barriers, it’s essential to create a road map for implementation that includes regular stage gates based on trade-offs between value at stake and ease of execution. By following this approach, marketers can quickly demonstrate the benefits of personalization at scale and continue to grow their customer base, revenue, and bottom line.