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BizReport : Advertising archives : April 29, 2019

Study finds most marketers pushing personalization

As we come to the anniversary of GDPR in the EU and an increasing focus on data collection, storage and use around the globe, one new report finds an increased interest from marketers on personalization. A new report, out from Evergage and Researchscape International finds that 9 in 10 marketers surveyed are pushing personalization as a way to deliver a better customer experience.

by Kristina Knight

About 40% note they're using machine-learning personalization and of those who aren't 42% say they are looking to implement improved personalization for their campaigns.

"While personalization delivers demonstrable hard benefits, it's interesting - and important - that they're not the primary triggers for personalization investments," said Andy Zimmerman, CMO, Evergage. "Instead, there's a great appreciation for the fact that being genuinely helpful, removing points of friction, increasing relevance, and making people feel acknowledged and valued are simply good for business. Companies overwhelmingly recognize that personalization is an inextricable part of a good customer experience and want to deliver on that."

Why personalization? Just over half note that personalization helps to improve conversion rates (61%), engagement (59%), and the customer experience (56%). But, personalization doesn't come without it's own hiccups.

Some obstacles to fully implementing personalization strategies - and tools - include a lack of personnel (46%), budget constraints (43%), and differences in the skillsets required. That, of course, isn't stopping most brands from pushing forward because they see benefits in personalization - benefits like increased customer loyalty (59%) and lead generation (44%).

"[Rather] than tackle everything at once, many organizations find the greatest success when they start small - pursuing easy, initial wins and then moving on to bigger projects with greater confidence," said Zimmerman. "While it's true, too, that your personalization is only as good as your data, you don't need to clean up all your data before starting to personalize. Take that same crawl-walk-run approach: start and succeed in one channel, then move on to the next."

More data from the 2019 Trends in Personalization report can be found here.

Tags: advertising, advertising trends, Evergage, loyalty marketing, mobile marketing, personalization trends, personalized advertising

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