Tag Archives: personalization

Personalized Marketing’s Future Looks Engaging: Tips

4 Dec

As we know, personalized marketing is a big deal. Thus, personalized marketing’s future looks engaging [pun intended 🙂 ]. Let’s see why. And offer several tips.

 

Background on Personalized Marketing

So, how should we define personalized marketing? Consider these observations from three prior posts:

  • One of the toughest issues for marketers is how much to personalize. On the one hand, firms need as much customer data as possible to target individual shoppers. On the other hand, many customers want their privacy. And they do not appreciate it when they are overly tracked. [1]
  • In today’s high-tech marketing environment, personalization is a major competitive advantage. Thus, personalization can involve products such as the NikeiD footwear line as well one-to-one communications. As Conversant Media puts it: “Virtually everyone agrees a personalized message tailored to an individual’s wants and needs is more apt to drive a sale than a general one.” [2]
  • Neustar (a data-intelligence firm) published a report on personalized marketing. “Customers expect it. And technology enables it. As a result, brands that deliver it generate huge increases in ROI. Personalization goes beyond adding a customer’s name to communication. Customers expect relevant content in the right channel at the right time. Whether on a brand’s Web site, a social network, or an E-mail inbox. For brands, delivering one-to-one experience at scale requires leveraging complex data sets, processes, and platforms.” [3]

 

Personalized Marketing’s Future Looks Engaging

Consulting giant McKinsey & Co. produces excellent FREE material. And it covers diverse topics. Recently, it published this article. “What Shoppers Really Want from Personalized Marketing.” In that article, McKinsey notes:

“Gotten an unsolicited and irrelevant offer on something you’ve done online? Know the creepy feeling that ‘someone is watching me’? This reaction is the third rail of the drive to personalize interactions with customers. And that’s a problem because, if done right, personalization can be a huge hit. Targeted communications that are relevant and useful create lasting customer loyalty and drive revenue growth. The challenge: To personalize in a way that doesn’t cross lines and delivers genuine value and relevance. But how do you know?”

Click the image to access the article.

Personalized Marketing's Future Looks Engaging. Overview.

 

Personalized Marketing Tips

According to McKinsey, what do consumers value most?

 1. “Give me relevant recommendations I wouldn’t have thought of myself. Shoppers don’t want constant reminders of products they’ve already bought or searched for. Especially if the ads appear either too soon, too often, or too late in the process.” Instead, personalize products. The figure shows a McKinsey example of this. 

Personalized Marketing's Future Looks Engaging. Product recommendation stage.

2. “Talk to me when I’m in shopping mode. Previous order data can provide useful cues about activities. Such as ordering a gift for someone’s birthday or anniversary.”

3. “Remind me of things I want to know but might not track. So, help shoppers track specific events. Such as when someone may be running out of an item bought earlier. When a desired item is back in stock or on sale. Or when a new style is launched for a product or category the shopper has often bought.”

4. “Know me no matter where I interact with you. Thus, communications that seamlessly straddle online and offline experiences make a customer feel a firm really knows them.” And the figure shows a McKinsey example of this.

Personalized Marketing's Future Looks Engaging. Personalized discount.

5. “Share the value in a way that’s meaningful to me. For instance, loyalty programs and purchase data are useful. (a) By telling firms the products an individual customer buys. (b) By seeing how often he or she buys. (c) Be learning when they buy. (d) And by knowing what product categories they never buy. Thus, personalizing (‘gamifying’) the experience leads to purchases and new buying behavior.”

 

Can You Personalize Marketing without Shopper Participation?

16 Nov

One of the toughest issues for marketers to deal with in this high-tech world is how much to personalize their communication and offerings. On the one hand, marketers need as much customer information as possible to target individual shoppers more specifically. On the other hand, many customers want their privacy and do not appreciate it when they think they are overly tracked.

What do YOU think is the proper balance?

Here the thoughts on this subject by Louis Foong, the founder and CEO of ALEA Group Inc., (a B2B demand generation specialist):

“You want to give your prospects and customers a seamless, personalized, and sublime experience, and you know that you can’t do that without collecting their personal data. The trouble is, a lot of your customers don’t like the idea of sharing their information with you – what exactly are they so afraid of?”

“Findings by Boxever show that attitudes toward personalization and privacy are complex, and there are a few reasons why many of them are so against sharing their personal information with companies. The infographic below shows the trickiness of balancing privacy concerns and effective personalization.  Customers are also wary about receiving spam mail or offers that aren’t relevant to their interests. Only 14% of people say data collection through connected devices will improve their life.The other 86% either aren’t sure or don’t think it will improve their life.”

 
Here is the challenge.


 

Personalizing Marketing

1 May

In today’s high-tech marketing environment, personalization has become a major competitive advantage. Personalization can involve products such as the NikeiD footwear line as well one-to-one communications.

As Conversant Media puts it:

“Virtually everyone agrees that a personalized message tailored specifically to an individual’s wants and needs is more likely to drive a transaction than a general one. Here are a few key drivers behind this belief and the increasing interest in marketing personalization: The population is more heterogeneous. Products are more specialized and purchase cycles have fragmented. Media channels and audiences have fragmented. Relentless evaluation, extensive comparison shopping and show rooming are the norm, not the exception. Individuals are more demanding – they expect a seamless brand experience, along with messages and offers that match their particular preferences. As a result of these market forces, many marketers are convinced that personalized communications with prospects and customers are essential to maximize their retail sales.”

 

 

The Components of Personalized Marketing: From A to Z

19 Dec

As we have noted before, customer personalization is an important tactic for marketers — both online and offline.

Recently, Neustar (a data-driven intelligence firm) published an interesting report on personalized marketing:

“Customers expect it. Technology enables it. Brands who can deliver it are generating huge increases in ROI. Personalization has gone way beyond simply adding a customer’s name to a communication. Customers increasingly expect highly relevant content in the right channel at the right time, whether they’re on a brand’s Web site, a social network, or in their E-mail inbox. For brands, delivering this one-to-one experience at scale – to thousands, or hundreds of thousands of prospects and current customers – requires leveraging sophisticated data sets, processes, and platforms.”

“It’s no surprise that many marketers are struggling. In a recent survey by Digiday and Neustar of 100 digital media and marketing executives, more than half (53%) reported ‘always’ or ‘often’ struggling to personalize their marketing at scale. Marketers know they need to make their marketing personal, but aren’t sure how to do it at a scale that makes it cost-efficient. The challenges include data quality, difficulty of activation across online and offline channels, and a lack of understanding of the components of the process. [Our] A–Z deals with the latter.”

Click the image to download Neustar’s report.
 

 

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