The State of Marketing Technology is a series of reports, each on a different aspect of the martech industry. Your investment in one report includes all four, quarterly reports, starting with Fall 2014. Buy now, and we'll send you details on how to access the other reports in the series.
How do consumers view personalized marketing, and the data collection that it requires? Is it something they welcome … or fear?
Personalization produces high returns on investment, and increases conversion rates, click-throughs, and more. Product affinity, channel affinity, interest, location, and other personal data points are helping to hyper-segment prospects and customers with impressive results.
A shoe retailer “hijacked” 600 additional sales from competitors by using mobile location data
Email subject lines with personal data increase open rates by up to 41%
Personalized website content increased page views for one company by 300%, and another saw an increase in conversion rate of 219%
Geo-targeting in emails helped one loyalty program vendor increase click-through rates by 66.7%
All of these outcomes make personalization tremendously important for marketers to achieve. But there are significant challenges.
96% of American consumers, and 91% of those in the UK, are concerned about data privacy, and how companies use customer data
Almost 80% of consumers are fully aware of their control over private or personally identifiable information
Over 40% of consumers want nothing short of a guaranteed offer in return for giving up their email address
In addition to helping you address those challenges, this report explains:
Why over 77% of "digital natives" expect a personalized website experience
What drives consumers to provide personally identifiable information, and why 'promises' are the least effective offer
Whether using the consumer's own content in personalized advertising (such as Instagram photos) is acceptable or not
The complexity of the rules, regulations, and laws that come into play when considering one-to-one marketing, and personal data
Whether consumers are ready to let you use wearable, and fitness tracker data in advertising
How big the market for smart beacons is, and what they mean for the future of retail
The future of hyper-personalization, machine-learning, and location data
We'll also explain why a lack of personalization in marketing will increase customer acquisition costs, and how we'll all avoid "creepy communications" in the future.
Importantly, the focus of this report is not in how we got here (you’ll find historical data in the addendum for reference), nor how to personalize marketing. We’re covering that topic -- and which tools work best -- in a study of personalization vendors.
This report, in contrast, looks at personalized marketing from the point of view of the consumer, and what the future of personalization looks like. It will deal with privacy, attitudes, and what both marketers and vendors need to do to ensure they stay on the right side of the personalized marketing coin.
Who is this report for?
CMOs, Marketing Directors, Marketing Managers, and marketers responsible for any level of personalized marketing should read this report to better understand attitudes toward personalization, and all the implications of using consumer/prospect/customer identification data in marketing and sales. The report discusses implications for all types of business, including B2C and B2B organizations.
Vendors, startups, and product/service creators should read this report for the same reasons, and also to discover the legal, and regulatory ramifications of dealing with personally identifiable data. We dive into privacy, rules, regulations, laws, and more in some depth.
How did we arrive at our findings?
We surveyed over 1.700 consumers about their attitudes towards personalization. Then, we interviewed experts, vendors, and commentators to help you create a playbook for personalization that doesn’t creep out your customers, and predict the future of this fast-growing marketing sector. Finally, we gathered the latest examples, and case studies, to help explain what personalization does for you, and why it is important.
Remember: This is one part of "The State of Marketing Technology", a four-part series. By purchasing, you gain access to the other reports in the series.