Personalization is failing consumers. In a landscape where brands have the opportunity to gather huge amounts of self-reported consumer preference data, personalization is all too often a buzzword rather than a cornerstone of a marketing strategy.
Initiatives that purport to be personalization are commonly limited to ads derived from soon to be curtailed third-party tracking cookies or the curation algorithms of “people who bought item X also bought item Y.” It’s these kinds of unimaginative techniques that have led to the sharp rise in consumers getting proactive about their privacy online and generally apathetic to the personalization they receive.
But consumers do love personalization, as long as it’s powered by zero-party data and not by snooping. Our 2023 Consumer Trends Index surveyed over 11,000 global consumers, and 79% of consumers stated recommendations based on past purchases are cool, 65% like an email reminder or advert about an abandoned shopping cart, and 60% think tailored offers after staying on a brand’s website for a couple of minutes are cool, too.
The key to rising above the competition is to establish an intelligent messaging strategy that goes beyond casting and blasting, or personalization that peaks at a first name in the subject line. Using zero-party data gathered through interactive experiences you can personalize your messages with granularity and specificity. Messages can, and should offer products your customer has expressed an interest in, that fits their declared budget and contains dynamic content that uses keywords you know will elicit engagement from them.
And this isn’t pie-in-the-sky marketing – 70% of consumers will happily share their behavioral and psychographic data with preferred brands if you offer a tangible value exchange.
The brands committed to fostering better relationships and adding relevance, value and personalization to their messaging are the ones that are elevated to preferred status and poised to see long-term benefit across the customer lifecycle.
Email is a huge driver of sales for American Airlines and they looked to increase revenue per customer while adding a deeper level of personalization based on individual customer preferences.
First, interactive experiences were deployed to collect zero-party data, including psychographic information about how, when and where customers plan to fly – business or leisure, long or short-haul, economy or first-class etc. Those insights put each customer on a unique email path that included hyper-personalized content and offers matching their needs.
American Airlines moved from a “batch and blast” email with a one-size-fits-all offer and delivered personalized, real-time offers based on known psychographic data declared directly from the customer. This led to increased open rates to over 50 with an 84% conversion rate, a lift in engagement scores and ultimately a lift in revenue per customer.
We’re excited to announce the launch of Marigold Grow which give brands of any size the value exchange mechanics to encourage consumers to willingly share their zero-party data. Learn how Marigold Grow can help your business start building more meaningful connections with your customers. Connect seamlessly with Marigold Engage and create moments that matter.
Check out these other blogs in the series:
Marigold: where relationships take root.