Another study points to the power of personalization in email marketing.
A personalization strategy directly impacts the profitability of email marketing campaigns, according to a recent study by Monetate. The study suggests that marketers with a framework for advanced personalization see a higher return on investment for their email marketing efforts.
The personalization software company polled 131 professionals with marketing-affiliated positions at the end of 2016, and those that that exceeded their company’s revenue goals had a dedicated budget for personalization 83% of the time.
Furthermore, 79% of marketers that exceeded revenue goals had a documented personalization strategy. In contrast, only 31% of marketers that met their goals utilized personalization. Only 8% of marketers that missed their revenue goals last year had a dedicated investment in personalization.
“The biggest takeaway from Monetate’s recent personalization survey is that for those that do put in the effort, personalization is not only attainable -- it also impacts an organization’s profitability,” says Maribeth Ross, senior vice president of marketing at Monetate.
Marketers who exceeded their revenue goals were also much more likely to use personalization in triggered emails, according to Monetate. Marketers who beat revenue projections used personalization in triggered campaigns 78% of the time, compared to just 57% of marketers who met their goals and 62% of those that missed them.
Ross says that personalization “gives customers the best possible experience from brands, which in turn increases satisfaction and leads to better business results.” Ross asserts that personalization can help organizations increase brand loyalty, engagement, and ultimately, revenue.
Personalization is most commonly deployed in email according to Evergage’s 2017 Trends in Personalization Survey Report.
Almost three out of four marketers polled by Evergage used personalization in email campaigns, while only 57% used it on their company’s website and only 18% in their company’s mobile app. Almost nine out of ten marketers asserted they had seen a measurable lift in business results from their personalized digital marketing campaigns.