Email is by far the channel most likely to be personalized by marketing brands. That doesn’t mean it always works.
An impressive 69.20% of companies personalize
emails, and 56.10% do so with content, according to Future of Marketing: Why Personalization Matters, a study by ClickZ and Moengage.
In contrast, only 34.60% personalize their web
pages, and 24.30% their product recommendations. And 18.70% are not now personalizing anything.
But there are many barriers to personalization, among
them:
- Budget and resources — 64.2%
- Lack of visibility and un-actionable data — 41.5%
- Inability to move
fast and create personalized campaigns — 40.6%
- Lack of analysis and understanding — 34.9%
Now this study
may not be much more than a snapshot. Moengage and ClickZ surveyed 107 U.S. marketers between March and June 2022. Still, the findings are in sync with those of other surveys.
In this
study, nearly 70% are moderately, highly, or extremely satisfied with the quality of their data.
And 51% are investing more in marketing technology to help personalize the customer
experience. And roughly 40% are investing the same as before. Fewer than 10% are investing less.
Email dominates technology investment. Marketers are spending on:
- Email marketing — 67%
- Marketing automation — 57.3%
- Customer data management — 54.4%
- Personalization
— 49.5%
- Mobile marketing — 45.6%
- Artificial intelligence — 33%
- Account-based marketing — 31.1%
How do companies track success?
- Customer surveys — 49.1%
- Informal customer feedback — 48.1%
- New monthly
recurring revenue — 42.5%
- Customer lifetime values — 35.8%
- Split or multivariate testing — 22.6%
- Other —
20.8%
But the study also shows that 61% of marketing leaders are not using ROI to make decisions. Why? Because they lack confidence in the data.
With
budgets tight and talent in short supply, brands have to make “diligent and effective investments in technology to automate the right processes and augment their workforce,” the study
states.
It adds that despite the challenging economic circumstances companies are now facing, “it is imperative that investments are not delayed as consumers are increasingly
emboldened to be selective in where they spend their money.”