What is Personalized Marketing?
Personalized Marketing is a type of marketing campaign that allows the company or organization to tailor their products, recommendations, and/or services to their customer’s needs and desires. Companies such as Amazon, Dell Computers, and NetGrocer are all companies that have integrated personalization into their own advertising campaigns. Although most of the stores who have integrated personalization into their campaigns are e-commerce companies or organizations, there is still a lot of potential for brick and mortar companies that are looking to add some variety to their marketing plans.
The goal of personalization (a.k.a. target marketing) is to find out what products and services clients will be willing to spend money on—and to boost your sales by tailoring your offerings to them. Products that work especially well with personalization include clothing, footwear, food services, entertainment, travel, and so on. Almost all services can be tailored in one way or another to meet clients’ individual needs. The challenge is finding how best to communicate the message so that it appeals to your customer.
Creating a Personalized Campaign
So you want to implement personalization marketing into your advertisement campaign? Experts have proven that 2015 will be the year to do so. With the addition of newer technologies, social media, and database profiling, the ability to help consumers find what they’re looking for while predicting what products or services they will desire will become as easy as doing your taxes. However, your taxes won’t make your business this much money in the long run. How do you start? Try interacting with your customers in a non-invasive way by offering short customer surveys, case studies, interviews, or even website cookies. Just this small task will provide priceless data that can boost any company’s success instantaneously.
Marketing experts are expecting Personalized Marketing to make its return with a bang. According to an infographic from Formstacker, 45% of online shoppers prefer online stores that provide tailored product choices. Businesses and organizations across the globe will directly increase sales and their customer base by implementing this type of strategy in this new year.
Some retail stores, or brick and mortar businesses, have been less successful in the past when dealing with sales and personalization marketing when compared to their e-commerce counterparts. However, what many of these owners have yet to realize is that they have quite the advantage as 2015 begins. Technology has developed so much for businesses around the globe by assisting with anything from having a more simple point of sale system to connecting with consumers on a personal level. These types of stores can use personalization to their advantage by having consumers sign up for weekly newsletters that suggest products or services based on their most recent purchases with that business, introducing competitions, and even creating an app to integrate with their business. Each of these options should be specifically tailored to each individual customer.
E-Commerce companies or organizations have the upper hand when it comes to personalization and technology, because they were born from technology. Many of the businesses, such as Amazon or Dell have implemented personalized marketing and their consumers have enjoyed the result. By tracking the types of products consumers have already ordered, these companies are able to suggest products that the consumer would most likely be interested in. This is possible for companies such as these, because of all the data they have already collected. However, any small business or organization that is based online can quickly introduce this into their own marketing plans and be just as successful over time.
Potential Risk Factors
In any new venture, business owners should always be aware of the risks involved in taking that first step. One complaint over the years from consumers was in regards to privacy matters. When dealing with personalization marketing, you are trying to discover as much as you can about each consumer who visits your company or organization. Some companies in the past have been known to use the data that social media and third-party apps collect. Sometimes when using applications like those to provide your data or by even digging a bit too far into your customer’s daily lives – it crosses a privacy boundary. This specific action can lead to the loss of customers, not the gain of even more. The three keys to balancing personalization and privacy are company transparency, consumer choice, and being accountable to those choices. These three keys can help guide you to make the right decisions when dealing with your consumers’ private information.
Improve Your Chance for Success
By using personalization marketing, you are ahead of your field. Personalization marketing provides you with an opportunity to connect with your customers in a way you never have before, while still promoting top-selling products or services and reaching out to new consumers. This strategy can not only reach visitors who come to your website or store, but those who sign up for your newsletter or those who are willing to receive email promotions. It has been proven that companies who are adept in personalized marketing will experience an average 19% boost in sales; therefore, choosing to not get ahead of your competition will keep your business behind the curve as many owners push their organizations forward.
Where will you stand when the marketing industry shifts in 2015?
- Hubspot | 60 Ways Personalization is Changing Marketing
- VA Interactive | Personalization Strategies to Attract and Retain New Customers
- MarketingProfs | Why Personalized Marketing Will Dominate in 2015
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