Many businesses are using personalization in their marketing strategies these days – with good reason. Studies show that emails with personalized subject lines are 26% more likely to be opened than those without.
Rich Relevance found that revenue is 5.7 times higher in emails that use personalization. Simply put, personalized emails are more relevant to subscribers. Personalization has become a popular tool for attracting and retaining customers across the board, 70% of brands call it a top priority.
What is “personalization” and why is it important? It is defined as tailoring a service or product to accommodate a specific individual’s wants or needs in order to improve customer satisfaction. Car dealers have been doing it for years – they call it customizing.
Personalized marketing drives growth: 93% of companies with “advanced personalization strategies” saw revenue growth, according to behavior expert Jennifer Clinehens. And personalization drives long-term customer value. Brands that had the highest personalization ROI focused on loyalty as their top KPI. (Key Performance Indicator)
Marketing expert Seth Godin explains: “Personalization is a chance to differentiate at a human scale, to use behavior as the most important clue about what people want and more importantly, what people need.”
Customers crave products that cater to their needs and are made just for them. Investing in personalization efforts can pay off big for brands and drive-up revenue by as much as 30%. 70% of consumers say they will shop exclusively with businesses that personally understand them, says Blake Morgan, customer experience specialist at Forbes.
The benefits of personalizing your email marketing are huge (Credit goes to Campaign Monitor for the following list.)
- 74% of marketers have stated that targeted personalization increases their overall customer engagement rates – eConsultancy
- Birthday emails tend to generate 342% higher revenue per email than standard promotional emails – Experian
- On average, 36% of consumers have expressed an interest in purchasing personalized products or services –eConsultancy
- Personalized calls to action convert 202% better than default calls to action – HubSpot
- Personalized email marketing is said to generate a median ROI of 122% – Instapage
- Email subject lines that are personalized generate an average of 50% higher open rates – Oberlo
- 55% of consumers have stated that they like email messages that contain relevant products and offers – Liveclicker
- The share of U.S. consumers who find marketing content personalization “very” or “somewhat” appealing is 90% – Statista
In the vast world of the web where there’s so much anonymity, it’s refreshing to get something that’s personal. Customers overwhelmingly like being recognized and it can yield major dividends – so do it. If you’re not sure how to personalize your marketing, we will be happy to give you some personalized and complimentary advice.