This article is the third in our series of posts focusing on content personalization: What is it, what are the benefits, and how can you implement it into your current marketing strategy? In our previous article, we looked at how it has changed digital marketing. Now we are going to explore some of the benefits of content personalization.
"What's in it for me?"
That's typically a question we ask when we are unsure if we want to help someone else (not because we are unkind, self-satisfying individuals but because certain situations call for us to consider our benefit from it). And now we are telling you that you should share to consider using content personalization. And that means needing to rethink your strategy, committing to using more resources (time and money), seeking out expert advice, and much more. So of course, right away, you'll want to know the benefits. You need make sure it is a sound decision and the right strategic for your company.
In a previous article, we talked about content personalization and how it helps you demand more from your marketing strategy. Personalization is the next level to which we are pushing content personalization. Soon, content personalization will be viewed as much of a necessity and "Marketing 101" as content marketing or search engine optimization.
Personalization's growth to this status is thanks to its increased used among companies and their respective competitors, who are always looking for ways to get their audience to notice only them. And even more praise and thanks needs to be given to marketing automation software and their developers, because without this software, much of the personalization we do—or would like to do—would be exceptionally challenging if not nearly altogether impossible.
In this third article of our content personalization series, we’re going to answer the "What's in it for me?" question and look at some of the benefits that you can receive from using it in your own content strategies. And, just as importantly, we're going to look at some negative impacts you may experience if your company tries its hand at personalization but but misses the mark.
At CONCURED, we love personalization, because we believe that finely honed content brings in more viewers, more attention, and more sales for our clients. Our entire AI platform is based on the question of "What comes next?" for the readers, and that’s where content personalization comes into play.
When you implement even the simplest techniques (like using a customer’s name in the email), you increase the chances that the prospect will convert. Sure, there needs to be solid copywriting, a good offer, and a little bit more behind that… But using their name is a great start.
What are some benefits that you can expect from content personalization?
For buyers whose content was personalized, 86% believe that personalization had at least some impact on the purchase. (Infosys, ‘Rethinking Retail’)
Increased trust and authority
An experience where someone is just throwing proverbial noodles at the wall is frustrating, isn’t it? Buyers want to be wooed, they want to know that their brands care about them, and took the time to do the necessary research. Because of this knowledge and familiarity, trust and authority builds. As that trust and authority build, prospects are more likely to purchase from the brand.
Lowered Bounce Rate
Ah, the dreaded bounce rate. It’s a fairly simple jump here. When customers are reading something that’s tailored to them and their interests, they’re more likely to stay longer on the site. Keeping visitors on the site longer makes them more likely to purchase something from the brand. Personalized experiences influence purchase decisions, plain and simple.
With a little bit of content personalization implemented on your site, you can gently push your prospects a bit more quickly down the sales funnel and toward purchase. This is a result of that increased trust and authority that you’re exhibiting. The more data that you collect from your target audience, the more you’ll be able to get in close with your prospects.
More Video Conversions and ROI
People love seeing their name on material, but technology has made it even easier to personalize and customize videos and other visual material for brands. Up until recently, this type of activity was relegated to only brands which had a huge budget. Videos are like rocket fuel to engagement and LTV for your target audience, given that you’re speaking directly to them.
Email conversion that’s Out of this World
There’s nothing like seeing the first conversions happen as a result of solid personalized emails. With truly personalized content, it feels to the client as if you’re speaking directly to them, and that means and increased boost in trust, authority, and sales. Even putting the person’s name into the email can add a proper shot in the arm (if it’s the right name!).
What happens when you don’t personalize your content?
We’re not going to talk about the great benefits of content personalization just yet. Instead, we’re going to talk more about the issues that can come about as a result of poor segmentation or mismatched personalization.
In terms of millenials, 70% of them hate receiving irrelevant marketing emails. They would rather you send nothing at all over email blasts. According to SmarterHQ, a company that created a market tech that helps personalized email and website campaigns, the key here is to really hone in on your customer’s needs before pressing the send button. This, combined with the fact that 71% (from Segment's 2017 State of Personalization report) of consumers dislike it when their experience is impersonal makes it an imperative that your content should be personalized.
But when done correctly, you can expect some positive benefits. According to the 2017 Segment report, after the consumer has had a positive personalized shopping experience, the following applies:
- 44% will be likely to become a repeat buyer
- 39% will be likely to tell friends or family
- 32% will be likely to leave a positive review
- 22% will be likely to post a positive comment on social media.
Unfortunately, brands are missing the mark all the time. When they do, customers take note. SmarterHQ reports that 63% of customers stop buying altogether from companies who aren’t able to personalize very well. For example, you need to know what your customers would actually be interested in buying and then remember what they buy.
In their blog post "Why Consumers Unsubscribe & How to Fix It," SmarterHQ reports that 58% of consumers receive pitches for products that are way off the mark and 24% receive items that have been bought already.
And, as you know from being marketers, every little bit counts. Every customer that you add to the rolls means the potential of just a little more profit. And every customer that you lose takes away business.
We’re going to talk about the lost customers that can happen as a result of dropping the ball in content personalization. This information is directly from a study performed by Segment.
- 81% of people were frustrated that the shopping experience remained unchanged after providing negative feedback.
- 76% get frustrated when their name is gotten wrong in brand communication
- 66% of people got frustrated that their online shopping cart was not connected to the mobile app.
- 65% were frustrated when they were mistaken for the wrong gender.
- 60% were frustrated when they received an advertisement for a product that they were not interested in.
These frustrations can also be felt on the brand’s bottom line:
- 37% of people will be less likely to make a purchase from the brand
- 23% will unsubscribe from the brand’s email
- 20% will rehash the negative experience to friends or family
- 11% will unfollow the brand on social media*
*Typically, we don't really put value in vanity metrics such as number of followers on a particular social media site. But there is something that can be said for those companies who rely on organic reach for their posts because, for one reason or the other, they choose not to put money towards sponsored posts or ads. One lost follower could mean the loss of anywhere from a handful to hundreds of thousands of potential eyes on your content, which can translate into a dollar amount lost.
Do I really need to personalize?
There are plenty of reasons that you don't want to personalize: It is too challenging. It takes up too much time. We don't have the money to do so. We don't have the skillset.
Whatever is preventing you from personalizing your content, amend it immediately. According to Epsilon Marketing, most consumers now truly expect brands to be using big data and personalizing content.
Because if you don't, they will go to someone who will.