Research has shown that personalization can provide a significant lift for marketers across various KPIs, and a new Monetate survey of 131 marketers finds that they are in the process of implementing personalization strategies at their organizations.
The most common ways businesses are using data to create personalized experiences include by incorporating lookalike advertising engines (87%), in-store or customer service tied to digital channel behavior (83%) and dynamic content creation/promotion generator (75%), which would appeal to the many consumers who find personalized ads to be more engaging and relevant. Many are also using data to power product recommendation engines, though fewer are using data sources to personalize triggered emails, which have been shown to have higher response rates than general business-as-usual emails.
An overwhelming 90% of respondents reported being in various stages of implementing a personalization strategy. Of those, email activity is the leading source of data used to support personalization efforts, followed by mobile actions and purchase history. The least-used source reported are POS systems and sales associate data, demonstrating the challenge of integrating and utilizing both offline and online data insights. Read the rest at MarketingCharts.com.