Thats why I believe there is perhaps no marketing buzzword more important than personalization.
Try Googling it: a search turns up nearly 100 million results.
Brands are spending millions on getting personal with customers.
A recent Gartner survey found that CMOs across industries spendover 14 percentof their budgets on personalization.
But for many brands, that spending hasnt led to maximum ROI.
A recent survey shows thatover 80 percentof consumers think brands arent tailoring content.
Todays brands clearly know that personalization is important.
Heres how I believe they can master it.
The average consumer usesthree different devicesevery day, but many brands are not taking advantage.
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The outdoor clothing retailer uses geo-targeting to deliver content to individuals based on their locations.
Customers get an ad for North Faces product precisely when they need it the most.
Its no wondermillennialsconsistently rate North Face as one of their favorite brands.
Its also important for companies to closely watch customer journeys and recommend future products accordingly.
Netflix is a brand thats succeeding at the personalization game.
And not all brands get that.
One example is amortuarythat sent a Christmas basket to someone living in an assisted-living facility.
Weve probably all had an ad for something we already bought stalk us across multiple sites.
When personalization is done right, its subtle, organic, and authentic not creepy.
According to Accenture,88 percentof customers like when a company can personalize their experience without throwing away trust.
So how can companies deliver valuable, likeable personalization?
Id suggest that you dont let assumptions about what consumers want get in the way of what actually works.
Also, dont be afraid to test new ideas and content.
And when dealing with sensitive data, respectfully ask consumers if you’re free to personalize their experience.
Most consumers actually will trade personal information for rewards.
Butover 80 percentexpect brands to ask permission for that data, according to a Microsoft survey.
Hop on the AI train
In my opinion, true personalization cant be achieved without artificial intelligence.
Brands without AI capabilities spend hours analyzing and manually testing content and recommendations.
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Before joining Adobe he held a variety of marketing and media roles.
