McKinsey, a reputable corporate research group, recently stated the following concerning direct mail and email communications:
“Customers decide very quickly—in a matter of seconds—whether they like your marketing message. Provide something relevant, and you’ve got a satisfied customer. Miss the mark, however, and they’re gone.”
That should pique your interest in the value of relevant, targeted campaigns. But if you need more reasons to add personalization to your marketing mix, check out this data compilation by Profit Blitz:
- 75% of marketers say that adding a touch of personalized elements to emailed marketing materials has a significant increase in both engagement and return on investment. (Source: Blogging Wizard)
- 89% of major companies like Coca-Cola, Netflix, Sephora, and Wells Fargo have seen the appeal of personalized marketing and have invested big money in it. (Source: Forrester)
- 66% of customers don’t want to be treated like numbers and expect companies to understand their unique needs. They demand a more personalized experience from brands. (Source: SalesForce)
But isn’t it difficult to persuade customers to disclose their data so you can provide a more tailored experience? According to Retail Touchpoints, more than half of consumers are eager to give product information in exchange for personalized discounts.
Here are some encouragements:
- 83% of consumers are willing to share their data to create a more personalized experience, as long as companies are transparent about the data they collect, how they collect it, and what it will be used for. (Source: Accenture)
- 64% of consumers are okay with retailers saving their purchase history and preferences if it allows their experiences to be more personalized. (Source: BRP Consulting)
- 90% of consumers are willing to share personal behavioral data with companies for a cheaper and easier experience. (Source: SmarterHQ)
- When it comes to email marketing, consumers are more likely to open a personalized email than a generic one. In fact, according to Statista, emails with a personalized message and a non-personalized subject line have an open rate of 18.8% and a 2.1% click rate.
- Businesses should use email as a marketing channel considering that it’s the 3rd most used right after digital ads and company websites. (Source: Terminus)
- In fact, 64% of small businesses have come to realize email marketing is an effective part of their marketing strategy. Furthermore, personalization is no longer an issue as there are plenty of quick automation solutions available these days.
Developing truly personalized content takes effort, but it pays off big. According to studies, 80-90 percent of organizations who use targeted messages see a measurable increase in business. This increase is frequently greater than 10%.
This isn’t to say that simply throwing data at the page will get these outcomes. Consumers will also quit buying from brands that use bad personalization strategies, according to studies. If you’re going to create personalized messaging, take your time and do it right.