Personalisation 2.0: The future of successful marketing for your business
It can sometimes seem that the world of digital marketing is moving at a break neck speed. For small and medium size businesses, this generally makes it a huge challenge when selecting the most productive approaches for delivering a strong return on investment. Personalisation is one of those key areas that is moving at lightning speed but can provide a huge impact.
At the heart of many recent developments in marketing and advertising is personalisation. Productive selling is not just about having a customer’s name and address; it now entails understanding each individual on a deeper level and being able to respond to their needs and interests.
What is Personalisation 2.0?
If you haven’t been on Amazon in a while, it’s worth taking a look. The retail giant was one of the first to experiment with personalisation for their customers. They are producing complex algorithms based on vast amounts of collected data. All this enables them to deliver a fully rounded experience that seems intuitively personal and focused.
What’s more, personalisation is something that consumers expect nowadays. They want companies to engage with them directly and deliver suggestions and messaging that meets their expectations. And many are willing to allow companies access to their data to enable them to do just that.
Information for marketing and product messaging doesn’t just come from the individual consumer. It comes from big data which is routinely added to the mix and used to build a strategy for engaging in a more personalised way.
In other words, you not only have the consumers buying behaviour to draw on but also billions of other data points. This data can include:
- Who your consumer is in terms of demographics (for example, gender, age, marital status).
- What your consumer really cares about (where they browse, what they say on social media, where they live).
- What they often buy and where they shop.
- Where they sit in the customer journey. For example, whether the customer is loyal, if they haven’t bought from you recently, or whether they have shown interest but not committed to a purchase.
All of this information can be used when adopting personalisation in your marketing.
The Benefits for Businesses
The more you understand what an individual customer wants, the better you can tailor your approach to them. That’s a fairly simple concept for businesses to understand.
We’re moving beyond simple demographics and using individual behaviours derived from large amounts of digital data. We are using complex algorithms that will help, for instance, produce the perfect iteration of an ad that resonates more with your customer during a marketing campaign.
For many businesses this approach can seem quite scary. It also smells like it will be very expensive. The truth is that a range of cost effective services are now being created that enable businesses of all sizes to access personalisation 2.0. It’s not just the province of big corporations anymore.
This enables businesses to react dynamically to consumer needs and also to produce consistent messages that fit the needs and interests of the individual.
Personalisation and GDPR
Finally, one of the big questions when looking at personalisation 2.0 is how new data collection laws are going to impact on this. Most businesses now know that the EU General Data Protection Regulation is in place. Making sure that you’re company is GDPR compliant is one thing, but you also need to ensure that any data company that you work with also has the right measures in place, wherever they are located in the world.
Fortunately, that doesn’t mean restrictions on data usage. What it does mean is more transparency and allowing consumers to understand how you are using data, and this will ultimately improve your service and their overall experience.