As customers, we desire information that is valuable to us. In fact, 50% of consumers would be more likely to use retailers again if they were presented with personalised offers and information.
In recent years, personalised marketing has begun to take over the marketing industry and is the proven, most successful form of targeted marketing; however, many businesses are still struggling to implement this strategy. According to EConsultancy, 96% of retailers now believe that personalisation is right for their business. If marketers recognise that the key to increased lead conversion and sales is specialised customer service, why are they not taking action?
The reality is that 72% of businesses are missing their opportunity for effective personalisation due to misconception and lack of knowledge.
Let’s set the facts straight
Myth 1 – “I customise emails with the customer’s name, so I have implemented true personalisation”
Personalisation is more than customising a promotional email or newsletter with each customers’ first name. It’s more than creating a segment that consists of your highest value customers by location. And it’s certainly not just cross-selling a product to a customer because people who bought the same product also bought related products. While these elements have importance in their own right, true personalization that attracts and keeps customers coming back for your business encompasses these elements, and much more.
Myth 2 – Website optimisation will provide a personalised experience
Unfortunately, website optimisation provides everyone with the same experience. This is a “one-size-fits-all” approach and is not specific enough to the needs of varying individuals.
Myth 3 – Achieving ROI using personalisation is too complex/time consuming
Many companies believe that personalisation will be extensive work and add additional pressure for IT employees. However, it is easy to achieve personalisation ROI using existing resources. If an effective strategy is planned, tasks can be easily fit into the business schedule – automation also provides many features such as behaviour tracking and email marketing, which help achieve personalisation.
Myth 4 – “We don’t have enough data for personalisation”
This is false. All of the data you need is right at your fingertips, including on-site behaviour, website and social media analytics and CRM data.
Myth 5 – Personalisation is only for large businesses
As personalised marketing becomes more prevalent, companies of all sizes have the opportunity to benefit from this practice. A wide range of inexpensive, easy to use platforms are becoming increasingly available, making it easy for small businesses to incorporate personalisation into their marketing strategy. Many customers respond positively to this despite the size of the business, thus increasing business prosperity and revenue.
Now that we’ve uncovered personalisation myths, it’s important to understand what true personalisation is all about. Stay connected with us, as we will be providing an insight to achieving personalisation success in an upcoming blog post.
Can’t wait any longer?
Please see our eBook, ‘Why true personalisation is critical to your business’ located on our resource page or contact us.