Some marketers have already discovered the advantages of personalization, but new research shows that many are still lagging, and they are lacking a competitive edge as a result.
Adobe recently published the results of its 2020 personalization survey, and statistics showed that only six out of ten organizations feel that they have extensive personalization efforts in place. That being said, 83% believe that personalization is differentiating, and 94% of businesses with “extensive” personalization agree that it distinguishes them from their competitors.
As of the time of this survey, just 33% of marketers said that more than half of their digital marketing budget goes toward personalization. That being said, 66% of all respondents stated that they see their investment in personalization increasing over the next five years.
B2B Marketers See Personalization Benefits
B2B marketers, in particular, are seeing a boost in terms of revenue as a result of their personalization efforts, according to previous research.
Episerver conducted its “2020 B2B Digital Experience Report,” and the data suggested that most B2B marketers (93%) agree that personalizing content has increased their company’s revenue over time. Only seven percent of respondents disagreed with this statement.
The B2B marketers who are not personalizing content on their website say that the primary reason (42%) is because “customers value privacy.”
“We know there is a dynamic line between personalization and privacy but B2B leaders indicate they are not concerned about the misuse of their data but rather prefer the convenience of it all,” wrote the researchers of the report. “Convenience is a common theme for B2B expectations.”