Proof is in the Personalization: Stats Roundup
Customers are upending the definition of customer service. Now, customers demand an end-to-end customer engagement solution. From the moment they walk into a store to the purchase, and now the new focus, the post-purchase.
The customer journey has evolved, so don’t treat your customers like a number. From restaurants to retail businesses – businesses are looking for new inventive ways to provide an exemplary customer experience. One such way is by providing personalized marketing and offerings.
Here, we roundup the statistics that prove the importance of personalized marketing and offerings:
Revealing Personal Information
Data is a touchy subject these days, and with the latest GDPR requirements, businesses are restricting their collection and use of data. While regulation is in place, data collection isn’t going anywhere. And as consumers that grew up as digital natives become the largest economic force, this cohort is more likely to reveal their personal information.
- More than half of consumers (57%) are okay with providing personal information (on a website) as long as it’s for their benefit and being used in responsible ways. (Janrain)
Millennials & Personalization
Customization and personalization are key when marketing to millennials. To win over this generation hyper-targeting and messaging is important for one-to-one communication.
6.5% of millennials considered themselves brand loyal, and those who prefer personalized communications have a 28% higher brand loyalty than those who do not (SmarterHO)
A survey from Magnetic/MyBuys found that consumers are willing to allow retailers to use their interests and behaviors to provide a better experience for them. But for what reason?
- 60% want to expedite their shopping experience
- 60% want to be offered relevant products
- 58% want a more personalized experience
- 58% say it would better their overall experience
- 50% say it would make omnichannel shopping more seamless
- 79% of consumers say they are only likely to engage with an offer if it has been personalized to reflect previous interactions the consumer has had with the brand. (Marketo)
- Personalization works: 88% of U.S. marketers reported seeing measurable improvements due to personalization — with more than half reporting a lift greater than 10%. (Evergage)
- 78% of U.S. Internet users said personally relevant content from brands increases their purchase intent. (Marketing Insider Group)
- Increasing personalization in more channels can increase overall consumer spending up to 500%. (The E-Tailing Group)
- Personalization reduces acquisition costs as much as 50%, lifts revenues by 5-15%, and increases the efficiency of marketing spend by 10-30%. (McKinsey & Company)