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Importance of Personalization in Marketing:
The importance of personalization in marketing is something that marketers and businesses of all sizes should take seriously. With the rise of digital marketing, customers are seeking out personalized experiences that are tailored to their individual needs and interests.
By utilizing personalization in marketing efforts, businesses and marketers can better engage with customers and build stronger relationships.
“We’re going to move into a territory where automation, machine learning, and artificial intelligence will prevail over the rest, seeking maximum personalization in ads” - Elena Ferreras, Wink [Channable Email]
Why is Personalization Important in Marketing?:
Personalization in marketing is incredibly important, as it can make the difference between an effective marketing campaign and one that falls flat.
It's all about giving your customers a tailored experience, and it’s something that all successful marketers and businesses should seriously take note of.
According to an Adobe survey, 72% of consumers say poor personalization decreases their trust in brands.
Whether it’s through targeted email campaigns, personalized ads, or personalized content, it can help build relationships with your customers and create a sense of loyalty, which is actually the need of the hour.
“Personalized emails deliver [six times] higher transaction rates than emails without personalization” - litmus’s personalization lessons report
The importance of personalization lies in its ability to make customers feel like they are getting something that is specifically tailored to them.
When customers feel like they are getting something special, they are more likely to engage with your message and take the desired action.
It can also be used to segment customers based on their interests, preferences, and buying behaviors. This allows you to send different messages to different parts of your audience, increasing the chances of those messages resonating with each group, and also driving better results.
“Personalization and customer touchpoints are also a focus for marketers. More teams than ever before are tracking web/mobile analytics, content engagement, and customer lifetime value” – Salesforce Research [State of Marketing, 8th Edition, 2022]
Such segmentation further reduces bounce rate, decreases unsubscribe rate, improves CTR, and boosts conversion opportunities as per the type of campaign and goal.
Personalization can also help you stand out from the competition. By creating unique experiences for your customers, you can make sure that they remember your brand or business and are more likely to choose you over your competitors.
A McKinsey report states that e-commerce brands can achieve a 5% to 15% revenue increase with omnichannel personalization at scale.
Overall, personalization is an essential tool in any business's and marketer's toolbox. It can help you build relationships with customers, target them more effectively, and also make sure that your message stands out from the crowd, resulting in increased leads and sales for your business.
Here's related information that you may find helpful – Objectives of Marketing Research [You should be aware of]
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