As more marketers turn to personalization to resonate with their target audience, new research shows that it’s already paying off for those who have implemented it into their strategies.
KIBO, Monetate and Certona recently came together to conduct “The Rise of Personalized Commerce” study, and their results showed that 70% of companies that use advanced personalization have already earned 200% ROI or more from it.
About 34% of North American companies now use advanced personalization tactics across the entire customer lifecycle, and 75% of all organizations used at least “some” advanced personalization.
In addition, 51% of marketers who say personalization is best across multiple touchpoints earned 300% ROI or more.
Marketers’ Shift Toward More Personalization
This is not the first batch of research to suggest that marketers are shifting to personalization to enhance the overall customer experience with digital marketing programs.
Merkle published its “2020 Customer Engagement Report,” and statistics suggested that 88% of marketers have moved from traditional campaign activities to more omni-channel strategies, in part to further engage customers and personalize the customer experience. As a result, 84% of marketers say they have high visibility into customer journeys in digital channels.
Most respondents (71%) said they are gauging the effectiveness of customer communications by examining engagement levels. This is compared to 59% who claimed they are examining absolute conversions/sales, and 55% who stated that they are using their customer retention rate to measure effectiveness.