Although marketers are heavily invested in the development of content personalization, new research suggests that they are still struggling with factors, such as data quality.
The “2nd Annual Personalization Development Study” from Monetate discovered that the majority of marketers (47 percent) consider data quality to be a top three challenge in terms of personalization development. This is followed by understanding buyer behavior in context (42 percent) and building a sustainable data architecture (40 percent).
That being said, many marketers in North America (approximately 35 percent) are still in the initial stages of implementing their personalization strategy.
Compared to 2016, more marketers now have a documented personalization strategy. In 2017, about 60 percent claim they have a documented personalization strategy, which is an increase from approximately 55 percent last year. Nearly 70 percent of those who have a documented plan claim that they exceed revenue expectations.
Content Personalization and Customer Expectations
The shift toward content personalization has been warranted for marketers, especially those who have been interested in improving customer relationships.
According to the “2017 Trends in Personalization” report from Evergage, 96 percent of marketers agree that personalization can help advance customer relationships. Approximately 46 percent of respondents intend to increase their budget for this initiative.
However, there is still room from improvement, according to the data. Fifty-five percent of marketers believe they still aren’t getting personalization quite right. This is despite the fact that 88 percent think customers now expect a more personalized experience.
“The findings from this year’s survey indicate that marketers believe that personalization is a valuable strategy, and although they continue to struggle with execution, their level of confidence in implementing personalization campaigns is on the rise,” says Katie Sweet, content marketing manager at Evergage.