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BizReport : Advertising archives : March 13, 2019

Study: Brands personalizing budget, strategy show higher performance

Personalization has been shown to improve ad performance through clicks, but one new report is tagging revenue increases to personalization. According to Monetate's Personalization Development Study brands engaging in personalization for budget and for strategy are showing higher revenue numbers.

by Kristina Knight

The study doesn't breakdown exactly how brands are personalizing ad campaigns, but it notes that those brands who have high campaign ROI are using personalization techniques for at least 20% of their marketing budgets. Researchers further found that brands with the highest personalization-based ROI (3x higher or more) have prioritized Customer Lifetime Value as a primary objective for their company.

"Monetate's growth, our customer's growth and research time-after-time consistently
demonstrate that brands focused on prioritizing customer loyalty and customer lifetime value experience immediate and long-term success," said Stephen Collins, CEO, Monetate. "Many businesses struggle with tunnel vision, performing one-off tactics with short-term goals. While this may show a temporary lift in their metrics, the brands that are meeting and exceeding revenue targets are the ones that take a serious customer-centric approach to drive pervasive and persistent customer experiences."

Other interesting findings from the Personalization Development Study include:

▪ 74% of brands who exceeded revenue goals in 2018 dedicated a percentage of their budget to personalization
▪ 77% of them use a documented personalization strategy
▪ Of those who missed revenue targets, only about half had a dedicated personalization budget or documented strategy

Additional details from the Montate study can be accessed here.

Tags: ad budget trends, advertising, advertising budget, Monetate, personalized advertising

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