Did you know that 78% of consumers are likelier to purchase from brands that apply marketing personalization? Therefore, implementing personalization trends into your digital marketing strategy has become essential in today’s digital world.
Digital personalization offers an optimized marketing experience using collected data to connect with your customers and target audience.
Does your brand personalize its customer experience? Here are some key personalization trends you should keep an eye out for this 2023.
Personalization is Here to Stay
Personalization is here to stay, and it matters more than ever before. Thus, the demand for marketing personalization is increasing and is now expected as part of the customer experience.
Seventy-one percent of consumers expect personalization, according to a 2021 McKinsey & Company report. And as if that is not enough, 76 percent of them get frustrated when they do not find it.
Because of this, marketing personalization has become crucial no matter what type of company you have. Customers expect brands to show they care by knowing them more personally.
The future of digital marketing relies on the making of the development of websites and experiences that relate to consumers in a profound and meaningful way.
When designing your digital personalization strategy, focus on generating natural conversations between your brand and its customers.
Personalization Trends Increase Loyalty
Customers are looking for more valuable shopping experiences from the brands they engage with. Non-personalized businesses are at risk of losing customer loyalty. According to Twilio Segment’s 2022 State of Personalization Report, 62 percent of consumers will lose their loyalty to a brand if they do not offer a personalized customer experience.
Shoppers respond favorably to brands that demonstrate an investment in their relationship rather than just the transaction itself. The customer experience that personalization offers makes customers feel special.
You can create a positive brand perception and increase loyalty by adding thoughtful details like checking in with the customer post-purchase, sending how-to videos, or even asking the shopper for a review of the product or service.
Marketing Personalization Propels Performance & Better Customer Outcomes
As a company gets better at utilizing data to grow its customer knowledge, it will be able to generate a greater return. According to research, personalization typically results in a 10 to 15 percent revenue lift.
Personalized marketing and ROI go hand in hand. About 49 percent of consumers will likely become repeat buyers after experiencing a personalized interaction with the brand.
Personalized marketing can be a revenue generator even for the brands that generally don’t have direct access to customers, like those in the consumer packaged goods sector. Among these businesses, those with the fastest revenue growth rates are much more likely to prioritize personalization than those with slower growth rates.
The reports show that companies that are good at demonstrating a close relationship with their customers will achieve a faster revenue growth rate than their competitors. This happens because these companies will capture more value from personalization, with 40 percent more revenue coming from digital personalization actions. Therefore, making small shifts to improve customer experiences with personalization will create a competitive advantage for your company.
Omnichannel Personalization
Companies adopting an omnichannel personalization strategy will be ahead of the competition. The number of businesses successfully implementing omnichannel personalization has increased from 24 percent in 2021 to 35 percent in 2022 (according to the State of Personalization report).
This omnichannel approach allows personalization to meet the customer wherever they are rather than where you expect them to be. In 2021, Vonage reported that 26 percent of consumers said they would probably stop purchasing from a brand if they could not seamlessly switch between communication channels.
Conclusion: Implementing Personalization Trends
Implementing marketing personalization trends should be essential for for your business. Developing a digital personalization strategy will help you have more impactful and measurable digital marketing campaigns.
Additionally, personalization will increase customer loyalty for your brand, as it helps you connect with your audience and improves their shopping experience. Furthermore, leveraging customer data will allow you to increase ROI and lift your revenue, giving you a competitive advantage over your counterparts.
If you choose to implement marketing digital personalization into your business, consider how these personalization trends might play a role in your digital marketing strategy. If you are unsure where to start, a digital marketing consultant at Online Marketing Consultant can help you develop the right strategy for your business!