Truth be told, I have no news for you today. But I do have interesting studies about personalization. First is a marketer survey from Sailthru. You can almost hear the teeth grind as they report 75% of marketers think segmentation and personalization are the same thing and 65% believe email response rate is a critical success measure. Even more frustrating: while 91% of respondents personalize their emails, just 44% personalize their Web site and only one quarter personalize mobile Web, social media, or mobile apps. Worth a look.
Next we have the customer perspective. Salesforce surveyed B2B and B2C buyers and found that business buyers have significantly higher expectations about interactive and personalized experiences. Less surprising: Millennials and GenXers are more attuned to personalization than troglodytes Baby Boomers. But convenience is still king: while 52%of respondents are likely to abandon brands that don’t personalize their communications, 74% would switch because of a difficult purchase process.
Surveys are nice but how about some real data on personalization's value? The folks at ecommerce personalization vendor Qubit analyzed two billion customer journeys and 120 million purchases to find what worked. They found messages that highlight low-stock items, trending products, and time limits were most effective. Product recommendations were less so. But the main news is that messages driven by individual-level behaviors and preferences were three times more effective than non-targeted messages. Fascinating.
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