Marketing continues to morph. In my last post I addressed the importance for smart marketers to utilize a combination of tools (a.k.a. omnichannel marketing) including influence marketing to reach their target audience. Thanks to existing consumer data, get ready for an innovative wave of personalization marketing.
I first addressed the expansion of data captured at numerous consumer technology touch points in a 2018 post titled Psychographic Profiling as a means to enhance identifying/targeting consumers. Fast forward to 2020. A new survey (source: Merkle) revealed a large majority (88%) of data driven smart marketers are planning to implement omnichannel strategies, including the expansion of personalization, to make their customers’ digital journey seamless. However, only one-quarter of the survey’s respondents currently focus on real-time digital tactics. Moving forward, the key for brands will be to invest in marketing technology and measurement analytics.
The upsurge in digital channels over the past few years has enabled marketers to collect mountains of data they can personalize. One simple tool is an app. A great example is how Starbucks engages each of its guests based on their in-store purchases and location. Some marketers like Spotify utilize algorithms to crunch data to predict user behavior. With the advent of AI-powered tools, personalization will become even more sophisticated and deliver marketing communications in real-time (seconds) across multiple channels. However, the utilization of personal data will always be a pending issue with consumers. Nevertheless, research indicates as long as consumers believe they are receiving value in return for personal data, personalization is key to winning their loyalty/business.
2020 Personalization Marketer of the Year – Big Brother!