You’ve probably noticed it without even realizing. Your social newsfeed is catered specifically to your interest in hiking backpacks and eco-friendly dog toys. You’re so used to seeing ads that fit your lifestyle so well that you don’t often notice how personalized they really are.
Personalized advertising isn’t very new to the digital marketing realm, but it certainly still has a way to go. In fact, this type of marketing strategy has so many endless possibilities that it is essential that digital marketers understand why it’s an important tool in the digital marketing toolbox.
What is Personalized Marketing?
Personalized marketing is a strategy in which markets use data collected to target specific audiences for their products. Ultimately, the goal is to offer a consumer or potential consumer a one-of-a-kind experience which will lead to conversions. Here are a few quick facts to back up this type of marketing strategy:
80% of consumers are more likely to purchase goods and services from brands that offer personalized recommendations (source).
83% of consumers are willing to share their data and information to marketing to experience personalized advertisements (source).
45% of consumers agree that receiving an apology email after a poor online or in-store experience is a great way to maintain a brand’s image (source).
36% of consumers think that more brands should offer personalized marketing strategies (source).
Millennial consumers experienced a 28% increase in brand loyalty after exposure to personalized advertisements (source).
The Benefits of Personalized Marketing
Personalized marketing truly has its own set of benefits. It can improve a customer’s overall shopping experience by increasing relevance, drive increased revenue and conversions, establish brand loyalty and more. As a consumer becomes more acquainted with a brand, they are more likely to share their personal information with them including email, geo-location and so on. This information is crucial to hone the personalized marketing strategy, as it allows the brand to cater specifically to a certain demographic of consumers.
Brand loyalty, overall, is a classic way to gain a competitive edge against competing brands. It offers positive brand value to the consumer who may be more likely to trust your brand as a result. New products or services that are then introduced with ease as trust is already established, and the retention of a consumer lasts for longer than a one-time-only customer.
How to Implement Personalized Marketing
You’ve read the stats and you’re convinced that personalized marketing is going to be a smart move for your business, institution or organization. Often however, digital marketers have no idea where to start. Here are a few steps to take so you can implement personalized marketing into your own brand strategy:
Have The Right Tools – Ensure that you have the right personalization technology to implement content personalization – whether it’s using the CMS you already have, or a third-party solution.
Gather as Much Data As Possible – Data is key when it comes to targeting a personalized audience. When the right technology is put into place, marketers are able to collect data from every point in a consumer’s journey.
Use Multiple Channels – After data is collected and it’s time to start implementing, ensure that your marketing efforts are spread across all channels. This includes email, social media, your website and third-party ads.
Create a Seamless Customer Journey
When it’s all said and done, a poor customer journey can result in lack of conversions. After being targeted with a personalized ad, make sure that once a consumer makes it to your website they are greeted with another seemingly personalized experience. This strategy can be up to a brand's discretion, however, just remember that the customer’s journey should end in a conversion, not a landing page visit.
Interested in the digital marketing world but still unsure of where to start? Let a marketing expert at ZAG help guide you and your website in the right direction. Contact us.