In the 2017 Ecommerce Holiday Report, which asked hundreds of ecommerce leaders how they’re approaching marketing this holiday season, 31% of B2C marketers say personalization is their #1 focus. Only segmentation slightly beat out personalization, with 33% of marketers listing it as a top priority. However, segmentation is often just another tactic to achieve more personalized customer engagements.
It’s no coincidence that so many marketers are focused on personalization — it’s proven to work. Personalization can reduce acquisition costs by up to 50% and increase the efficiency of marketing spend by 30% percent, according to McKinsey.
But personalization means much more than including someone’s name in an email. Personalization encompasses everything from segmentation, to cart abandonment emails, to targeted Facebook ad campaigns, and much more. That’s exactly why you have to incorporate new and creative personalized marketing into your 2017 holiday marketing strategy.
Driven by the data
According to the report, optimization, lifecycle automation, and attribution all fall below personalization and segmentation on the scale of importance for marketers this year. Why exactly is that?
In the hyper-competitive holiday market, ecommerce buyers actually expect personalization from brands. In fact, 63% of Millennial consumers and 58% of GenX consumers are willing to share data with companies in exchange for personalized offers and discounts. Because of that, many B2C marketers are heavily focused on personalization as a method to improve their engagement rates with buyers this holiday season.
More than ‘Hi, [Your Name]’
Personalization can be much more than adding in someone’s name or simple segmentation by age or gender. Today’s personalization includes adding in hyper-personalized content like products viewed, products abandoned in carts, similar or complementary product lines, and more. Because of this, personalization requires far more data in order to execute properly.
That’s why so many marketers are turning to more and more elaborate segmentation, often with the assistance of machine learning algorithms. By using a B2C CRM that collects and stitches together buyer’s data, you can better engage your customers as they browse your website, open an email, or click on a targeted ad. With better data, you can offer them more specific and personalized messages at every turn.
Why personalization works
It may seem obvious, but personalization is appealing to buyers simply because it makes them feel special and appreciated. No one likes to feel like they’re just a number — they want to feel unique and special. Consumers have so many options, they’re far more inclined to shop with the brands that remember their preferences and make shopping easier. That’s why personalization is such an effective marketing tactic. If you’re not already offering personalized marketing to your buyers, it’s time to make a change. Get ahead of the game for the 2017 holiday season and incorporate personalization into your marketing plan.
Want to learn more about trends in B2C marketing this holiday season? Watch the on-demand webinar and learn more about the results of the 2017 Ecommerce Holiday Report and examine key marketing strategies.