On the other hand, BRP Consulting argues that marketers should give consumers more personalization, not less. They found 87% of consumers want a “personalized and consistent experience across channels” while just 53% of retailers make personalization a top priority. But BRP is looking at convenience features, such as a shopping cart shared across channels or real time inventory visibility, not personalized offers.
We wrote yesterday about marketers doing too much personalization, so it seems only fair to cover this Monetate report that personalization correlates with strong financial performance. But there’s less contradiction than it seems: companies with the best results are targeting lifetime value and loyalty while those focused immediate revenue or conversion lagged substantially. In other words, personalization works when it meets real customer needs.
Meanwhile, SaaS technology management vendor Blissfully reports that 1,000+ employee firms use an average of 211 SaaS applications and replace an average of 38% over a two year period. Among companies of all sizes, 71% have at least one SaaS subscription with no billing owner, suggesting it’s not actively used. Let’s just say there’s room for improvement.
It’s all surveys today, Dear Reader. Marigold reports that consumers are eager for personalized content, with 79% saying they’re likely to engage with a personalized email tailored to their interests. Sadly, 33% feel their needs are unmet by current brand messages. Discounts and coupons (95%) top the list of what they want in exchange for personal data, followed closely by loyalty rewards at 94%. Content is last at 61%.