By Barry Eitel
Personalization is now a key part of every consumer journey. Shoppers today expect all aspects of their relationship with a brand to be relevant and customized to their interests – a prospect that requires an incredible amount of data.
In fact, building a powerful collection of data is key for most campaigns today. This appears to be the case for not only millennials in 2018, but for the rising tide of Generation Z consumers, according to a forecast from Forbes’ Blake Morgan.
“Being forced to ingest stuff that isn’t relevant for you is not a pleasant experience and it caters to our most important commodity: time,” Morgan wrote. “If you aren’t in the business of saving your customers their precious time, making their lives easier and better, you risk being disrupted by a newbie who will.”
A study from Epsilon released in January reported that 80 percent of consumers said they were more likely to make a purchase when brands provide personalized experiences.
“Personalization is the best marketing investment you could make,” Morgan continued. “People want experiences that are actually relevant for them. We know this but something gets very lost in the execution.”
Epsilon found that personalization actually has an impact on ROI.
“The research findings are further evidence that bringing together customer intelligence and customer experience to drive personalization has a direct impact on a brand’s bottom line,” said Kevin Mabley, senior vice president of strategic consulting at Epsilon.
Personalized consumer journeys via data will be an intense point of discussion at the LeadsCon Connect to Convert conference this October in Boston. One session, “Bringing Together Data and Personalization for Building a Powerful Growth Program,” directly address the issue.
The session features Grant Tilus, growth product manager at marketing consultancy firm CROmetrics, and Anna Fisher, senior director of marketing at database software company ZoomInfo.
Both Tilus and Fisher have immense experience using data to boost the customized digital experience of consumers.
“Good, accurate data matters,” Fisher believes. “We all know this to be true. Nevertheless, we can’t seem to step back and re-evaluate our ongoing marketing data initiatives to fully understand if the data in our possession is good enough. Perhaps doing so is akin to admitting to some personal failure. Or maybe it’s the fear of starting from scratch that prevents us from acting. Either way, when expectations don’t match reality, a way out is almost always complicated.”
Fisher claims the expansive growth of data-based marketing experiences will be seen as one of the leading trends of the year.
At the conference, Fisher and Tilus will discuss what sort of data should be the highest priority for a campaign. They will also dissect how account data can help agencies better understand the persona of buyers.
Fisher has long been a proponent of this account-based marketing, or ABM, that combines sales and marketing to capture the highest-value marketing accounts and build up the best experiences for customers.
“ABM is a strategy employed by B2B organizations that generates business by directing targeted sales and marketing initiatives toward predefined accounts,” Fisher told The Drum. “It is a comprehensive approach that combines singular marketing segments – industry, product, marketing channels, and so on – into one living, breathing target: your selected account.”
In the end, all these strategies will help marketers better understand how to find the best data and how to utilize this data as an engine for business growth.