Winning With Personalization at Scale
As customers’ expectations for highly-tailored, digital experiences fuse with increasing privacy concerns, companies are forced to adapt. According to Lockhart, companies that create winning personalization at-scale strategies, follow three value-driving trends:
Increase Digital Touchpoints With Highly Targeted, Personalized Content: The COVID-19 pandemic accelerated digitalization, and this trend shows no sign of slowing down. 63% of consumers suspect they’ll use digital technologies more than they did pre-pandemic, and studies from Harvard Business Review predict a 5.3% reduction in traditional marketing channels, indicating the need for well-executed, digital personalization.
Increase First-Party Data Collection: As if the rapid increase of digitalization wasn’t enough for companies to keep up with, major shifts in consumer privacy policies complicate personalization efforts further. Primary technology companies responsible for media purchases and browser solutions are locking down on privacy and technology, specifically blocking third-party cookies. With Apple leading the charge on user privacy, other tech giants like Google and FireFox followed, forcing companies to rethink their data collection tactics. This push in privacy signals that first-party data collection is the optimal and ethical way to market to consumers.
Innovate How to Best Utilize Collected Data: With first-party, consented data, companies can have better visibility into where the individual is in the customer journey process. The benefit of more precise context means companies can construct real-time, effective messaging that’s backed with relevant content that impacts customer attitudes and behaviors.
The Credera Brief
At Credera, we believe the toughest business challenges are best solved by a team—a team who works together to share knowledge to accomplish their goals.
We created The Credera Brief series to distill the trends and ideas from Credera leaders and experts. These short-form videos will share different insights and perspectives across the topic spectrum from MarTech and innovation to strategy and technology.