Only 15% of CMOs believe their organization is on the right road with personalization, according to a recent McKinsey survey of senior marketing executives. There is, however, a clear incentive to figure it out.
Today’s personalization pioneers have discovered proven ways to enhance revenue by 5 to 15% and marketing expense efficacy by 10 to 30%, primarily by deploying product recommendations and triggered communications within single channels.
These are the trends that will dominate the desire to adapt every digital contact as publishers, merchants, and marketers try to build great digital experiences.
Machine Learning In The Mix
Machine learning is more popular than ever, and at a time when companies are being faced with analyzing millions of data points for experience delivery, automated solutions will be critical to success.
Organizations require computers to discover, gather, and interpret user and product data in order to provide users with the greatest possible variants, recommendations, and overall experience. We expect this trend to continue as people get more comfortable with handing over some control to machines.
Connecting the Real and Virtual
One of the most sought-after realities in the tech sector is the merging of analogue and online encounters. Organizations want to connect users across all potential touchpoints, including smartphones and websites, as well as kiosks, IoT devices, and other gadgets.
The ability to integrate data points across different channels will help marketers to create genuinely amazing, seamless experiences, which will have a significant influence on both the user experience and the bottom line. Businesses will be able to totally redefine customer-brand relationships as we know them by putting experience optimization at the center of these initiatives.
Personalized Data Strategy
To be successful with personalizing, one needs to have spots where one can collect gateway demographic data points ( such as emails and IPs). Collecting these fields opens the doors to more data — and better data. If one doesn’t collect these two things already, short and simple, add them now.
And if one already does collect emails and IPs, kudos to them! With these collected items, one can start unlocking the potential keys to plethora of other information. Companies can hit an API call with an email or IP, and pull data into your personalization platform to create audiences buckets and start deploying personalization experiments.
Dismantling Data Silos to Omnichannel Delivery
To be successful with personalization, one must have locations where gateway demographic data points can be collected ( such as emails and IPs). If one hasn’t already gathered these two items, now is the time to do so.
And cheers to those who already collect emails and IP addresses! With these assets in hand, one can begin unlocking the potential keys to a wealth of other data. Companies can use an email or IP to make an API request that pulls data into your personalization platform, allowing them to establish audiences buckets and launch customization tests.
Data Privacy Is Priority
Organizations must go above and above to demonstrate that they value data privacy by being honest about how data will be used, restricting personal data processing to what is essential, safeguarding data against theft, and offering consumers the right to be forgotten.
Data governance and privacy policies must become an integral component of a marketing organization’s standard operating model, not an afterthought. To make this possible, ongoing training on legitimate first-party data collecting methods and data uses, including data sharing with partner platforms, is essential. Concerns about privacy are at the heart of customer-brand trust. It is critical for businesses to get it correctly.