The 7 Personalization Stats You Need for 2020
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It’s nearly the new year, and now is the perfect time to overhaul your marketing strategy. With any number of trendy ideas that have come and gone in the last 5 years, one piece has become a staple: personalized emails. This used to mean lots of {{first name}} insertions in your subject lines and greetings, but lately personalization has gained some new (amazing!) characteristics, like nearest location, personalized abandoned carts and product recommendations, real-time package tracking updates, and more. In case you aren’t convinced that email personalization is here to stay, here are all the stats you need to convince yourself to adopt this strategy in 2020.
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Personalization can seriously increase your ROI
A study out by The Relevancy Group found that advanced personalization (think in-email package tracking updates) has an ROI of about $20 for every $1 spent. That is an insane number, and one most of us would be all too happy to report back to our boss.
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Your customers will buy more if you personalize their experience
New Epsilon research indicates 80% of consumers are more likely to make a purchase when brands offer personalized experiences. The report offers some startling stats, like this gem: “ …consumers who believe personalized experiences are very appealing are ten times more likely to be a brand’s most valuable customer – those that are expected to make more than 15 transactions in one year.”
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You’ll get more data from your customers, which means even better personalization
This study showed that 90% of consumers are willing to share their behavioral data if a company can make shopping cheaper or easier (like providing them real-time personalized product recommendations). More data for you = better personalization and more relevant content for them. It’s a win-win!
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Your customers will engage more with your brand communications
The same study from above also mentioned that 72% of consumers in 2019 only engage with marketing messages that are customized to their specific interests. Higher engagement in email has been directly correlated to increased ROI!
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Consumers hate batch and blast communications
Millennials, the largest generational cohort and one with extremely high buying power, get frustrated by irrelevant or too-frequent communications, even from brands they like. This leads to less engagement over time, meaning less money for you.
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If you use advanced personalization, you’ll be in good company
89% of digital businesses are investing in this kind of personalization, including heavy hitters like Coca-Cola, Netflix, and Wells Fargo.
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However, this type of personalization has a downside
61% of companies reported resources for personalization are limited or not available due to lack of time or budget. Until very recently, advanced personalization was expensive to implement, requiring lots of time and a dedicated team to launch even 1 personalized campaign. Some companies have even tried to build their own technology to deal with this kind of personalization (with limited results). Luckily, Zembula has created a platform that does the heavy lifting for you, at a fraction of the cost of other solutions! No more 1-off, expensive campaigns. It’s easy and simple to personalize your email communications using data you already have.
If you haven’t already started using advanced personalization techniques, this year will be a great time to start! Zembula can make it easy for you to incorporate this into your marketing campaigns, and support you every step of the way. Want to learn more about how we do it? Click here to chat with an expert!
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