• by Ray Schultz , Columnist, August 12, 2020

Consumers crave personalization — so much so that 81% will share personal information to get it, and 50% will even pay a premium for it, according to to Brand Loyalty 2020, a study by Formation. 

And some firms get it — 73% of consumers feel a level of 1:1 engagement with their favorite brands. But few companies are at that stage, the proof being that 77% feel brands should be doing more to earn their loyalty. 

That’s especially true when it comes to email. 

Putting a consumer’s name in an email is no big novelty— in fact, it’s now "table stakes," the study notes.   

Of the consumers surveyed, 75% say marketing emails often include their name. But names and basic demographics like gender are the most basic levels of personalization — and far from 1 to 1. 

“Being addressed by name might be a nice gesture, but if the marketing email doesn’t contain any products or information relevant to the user’s lifestyle, the effort is wasted,” the study notes. 

However, only 20% say they receive marketing emails featuring content relevant to their lifestyles, interests, attitudes and past purchases “extremely frequently. “

And a paltry 18% say they get emails with content so unique to their needs that it recognizes them as individuals. 

The top 5 personalization strategies most likely to increase brand loyalty are:

• Personalized website experience — 39%
• Personalized marketing email — 33%
• Personalized mobile notifications — 33%
• Personalized discounts — 29%
• Location-based marketing via mobile — 26%

Oddly, the 5 strategies most likely to decrease brand loyalty are similar:

• Personalized website experience — 32%
• Personalized email marketing — 32%
• Personalized mobile notifications — 27%
• Personalized discounts — 20%
• Location-based marketing via mobile — 18%

Here are a few more relevant stats: 

• 83% will do so if the brand is transparent about how the data will be used. And 34% are extremely willing. 
• 73% are more likely to engage with a brand that offers a loyalty program than a company that doesn’t. 
• 79% say the more personalization tactics a brand uses, the more loyal they will be.

Finally, here is the most promising stat of all: 58% say they are more loyal to brands than they were five years ago. 

Formation surveyed 2,000 consumers in the U.S.