Brands are rapidly turning to personalization, with 50% making it a top priority, up 10% from last year, according to a new study from Dynamic Yield. And 93% see its value.
Moreover, 39% say support is available on-demand when a business case is made for it, a 15% uptick over 2020.
Also, 42% of firms have at least a small team and some level of defined personalization processes.
In another improvement, 45% say their data is available in real-time to inform marketing activities, 17% more than last year.
As a result, 31% of companies are now able to tailor most digital interactions, versus only 10% in 2020. And 35% can show quantitative success stories on impact.
The study also shows most companies have moved to the advanced level of personalization.
“The effect the pandemic has had on personalization maturity can’t be understated,” states Yaniv Navot, CMO at Dynamic Yield.
Navot adds: “Companies that once simply valued the idea of personalization have finally started pumping sufficient resources into the people and processes required to turn data into scalable strategies that are leaving a tangible impact on their bottom line.”
Dynamic Yield believes this trend will continue in 2022, Navot said.