Should You Be Personalizing? The Data Tells the Tale | PMI

Any successful marketer knows you can lose a customer in the blink of an eye. It only takes one word, one phrase or even one picture and the customer is no longer interested in your product or service. 

Recently, McKinsey, a respected business research firm, had this to say about direct mail and email communications: 

Customers decide very quickly—in a matter of seconds—whether they like your marketing message. Provide something relevant, and you’ve got a satisfied customer. Miss the mark, however, and they’re gone.

If that doesn’t get your attention to the importance of targeted, relevant campaigns, nothing will. You have to find ways to personalize the experience for each of your customers. People like to be noticed and appreciated.

If you need more reasons to add personalization to your marketing mix, check out these data compiled by the venerable business magazine Forbes

  • 91% of consumers say they are more likely to shop with brands that provide offers and recommendations that are relevant to them. (Accenture)
  • 42% of consumers are annoyed when content isn’t personalized. (CMO by Adobe)
  • 72% of consumers say they only engage with personalized messaging. (SmarterHQ)

At the end of the day when you don’t personalize, you miss out on a large number of customers. And missing out on sales is not something any business wants to be doing. 

But isn’t it challenging to get consumers to share their information so you can create a more personalized experience? Not if it’s going to benefit them. 

Retail TouchPoints found that more than 50% of consumers are willing to share information on products they like in exchange for personalized discounts. Here are some more encouraging data: 

  • 83% of consumers are willing to share their data to create a more personalized experience. (Accenture)
  • 64% of consumers are okay with retailers saving their purchase history and preferences if it allows their experiences to be more personalized. (BRP Consulting)
  • 90% of consumers are willing to share personal behavioral data with companies for a cheaper and easier experience. (SmarterHQ)

Think in ways of an influencer, a person who uses their followers to market a product in return for free items from that company. Although you give something for free, you gain so much more from that person sharing their personalized discount code.

Four Easy Ways to Personalize

Developing truly personalized content takes effort, but it pays off big. Studies have consistently shown that between 80-90% of companies using personalized messaging have seen a measurable lift in business. Often, this lift is more than 10%. 

This doesn’t mean that just throwing data at the page will create these kinds of results. Studies also consistently show that consumers will stop buying from brands that use poor personalization tactics. If you are going to create personalized communications, do it well.

With all of this data in mind, there are some easy ways you can start your personalization process such as:

  • Emailing each person a personalized email about their interaction with your company. (This can be as simple as using their name in the beginning of the email)
  • Giving each customer a personalized discount code on their birthday that uses their name
  • Rewarding them for working with your company after a certain number of times through a small gift card
  • Creating a rewards program so that each time they work with you, they get a benefit for you and eat to come back for more

PMI: Here to Help

The idea of implementing new strategies to personalize your service can be daunting for some. Especially in such chaotic times, you might not feel like you have the time or the resources to do so.

That’s where the experienced professionals at PMI are here to help. Let us do that work for you while you focus on keeping your product or service successful and up to date. Once we’re done with your personalized strategy, you’ll see the difference instantly. Reach out to us today on our website.

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