As consumers expect more personalized online experiences, marketers are increasingly trying to keep up. According to a recent Evergage study of trends in personalization, 88% of marketers say that their customers expect a personalized experience.
But most marketers also said they didn’t feel as though they were getting it right. Only 30% said they are satisfied with the level of personalization that their own organizations provided. Although low, this represents a marked improvement over last year’s 18%. When asked why their organization had not adopted personalization, the two most common responses were “budget constraints” and that “other priorities are more important.” These responses show that marketers recognize the importance of personalization but many are finding that they don’t have the resources to develop an effective solution.
Although not all marketers are implementing personalization elements yet, the ones who are have experienced great improvements. Overall, 88% of marketers are seeing some improvement in their results due to personalization, with 23% experiencing improvements of greater than 21%. Over half of the marketers surveyed are using increases in conversion and click-through rates to measure the impact of their personalization efforts.
This survey’s findings demonstrate the incredible value that brands can harness when they personalize their shopping experiences. Execution will always remain a challenge. However, those that get it right stand to gain significantly, no matter the KPIs they’re measuring.