Why Personalization Matters in Marketing
Back in the day, personalization was when the salesclerks at your favorite store would greet you by your name. Do you remember how that made you feel? It probably made you feel like they cared about you as a customer. It made you feel comfortable and welcomed, didn’t it? As the digital world took over business/customer interaction, some of that got lost. Of course, we gained a lot of efficiency and convenience, but the personal touch was missed.
Every day we are more and more connected over digital mediums, so it’s essential to generate a sense of belonging that brings out a whole new side of marketing. Personalization is not a mystery anymore. Many companies are now applying this practice by collecting relevant data that allows them to connect with each customer more personally. A one-size-fits-all approach doesn’t quite cut it anymore, so creating a personalized experience is critical. Here are some of the benefits of personalization in digital marketing.
Improves Customer Experience
The whole point of marketing is to present customers —or potential customers—with the most relevant information in the most attractive way, promptly. Sculpting the user experience based on their preferences will significantly improve the way your business interacts with your audience and will impact the way your audience feels about your business.
Impacts Revenue Positively
The ROI of personalization can be up to eight times the amount spent on marketing and can boost sales by 10%, according to this article by Harvard Business Review. Implementing this can give your marketing strategy a lift.
Increases Customer Retention
Gaining new customers can be expensive, which is why keeping them is crucial. Personalization can be a great tool to retain customers. You could increase profits by 95% if you managed to improve your customer retention rates by 5%. It is definitely, worth a try.