As more marketers turn to personalization to resonate with their target audience, new research indicates that it is already helping many improve the performance of their campaigns.
Ascend2 recently published the “Personalization in Digital Marketing” report, and statistics suggested that the majority of marketers (48%) agree their campaign performance “significantly” improves when personalization is implemented. About 47% “strongly agree” with the same sentiment, highlighting the importance of delivering a relevant experience to customers.
Increased customer retention (49%) was cited by marketers as the top benefit of having a successful personalization strategy. This was followed by improved customer experience (43%), increased engagement (43%) and increased revenue (41%).
That being said, marketers have still faced challenges along the way. The majority (39%) claimed that it has been difficult to manage customer expectations, while 38% have faced budget constraints.
Marketers Pivoting to Adjust to Customer Demands
Marketers are benefiting from personalization, but previous research suggests that many expect to be up against more customer demands in the coming months.
Mitto conducted “The State of the Customer Experience” report, and data indicated that 64% of marketers believe customers will ultimately become more demanding over the next 12 months. Nearly 32% are expecting customer demands to at least remain the same, while only 4% predict their customers will become less demanding.
More marketers now appear to be boosting their investment in the customer experience, especially those with an omnichannel strategy. Nearly 71% of marketers with a complete omnichannel strategy claim they intend to increase their investment in the customer experience this year.