Three-fourths of all retailers now use personalization across most marketing channels, and over half say it yields the highest ROI of any tactic, according to Kibo’s fourth annual global personalization study, conducted with WBR Research.
Of the firms surveyed, 70% of retailers say advanced personalization achieved ROI of 200% or over.
In addition, retailers that personalize across as many touchpoints as possible, including both marketing and retail channels, are likely to pull 300% ROI.
“This research shows a holistic personalized commerce approach earns retailers significantly higher ROI than personalization in only marketing or only shopping channels,” states Lisa Kalscheur, CMO at Kibo.
Kalscheur adds: “The good news is that overall we are seeing more personalization, and more advanced personalization strategies, which is a sign that many more retailers will reach higher ROI in the near term.”
The survey also found that:
“As retailers navigate through an uncertain climate in 2020, it’s important to map a strategy for maximizing customer experience and revenue, especially as we move closer to the important Q4 holiday season,” Kalscheur says.
Kibo, a provider of a custom cloud platform, surveyed 400 marketers, working with WBR Research.