As technology and analytics have advanced, personalised digital marketing has become a hot trend in the realm of marketing.
Demand from customers for personalised marketing experiences is at an all-time high and getting that experience could be damaging for your business.
In this blog, we’ll take a comprehensive look into personalisation in digital marketing, ways to implement it, and how exactly it benefits businesses.
What is personalisation in digital marketing?
Personalised digital marketing is a strategy used by businesses to build rapports and connect with potential and existing customers.
Collecting and analysing consumer data, allows businesses to identify patterns and interests of their target audience, allowing them to nurture leads at every stage of the sales funnel – a tool like HubSpot could effectively help you do so.
Personalised digital marketing is more than inserting a personalised name field into your email marketing communications – it’s all about reaching the right customer with the right marketing message at the right time.
Personalised marketing outreach comes with many benefits such as increased revenue and customer loyalty.
A whopping 74% of customers feel frustrated when website content is not personalised – so, avoid vexing your customers through the art of personalisation.
Why is personalisation important?
In this digital age, personalisation is more important than ever. Customers have access to a surplus of content across multiple marketing channels.
Personalised marketing content will capture your target audience’s attention, speak directly to them, and help to build customer relationships.
99% of marketeers state that personalisation helps to advance customer relationships, with an additional 78% claiming it has a ‘strong’ or ‘extremely strong’ impact. If that doesn’t highlight the importance of personalisation, we don’t know what will!
Types of personalised digital marketing
There are several ways in which you can personalise your digital marketing efforts. Let’s dive into a few…
Fear of missing out (FOMO)
As humans, it’s our nature to want to know everything about everything and have a fear of missing out on something special.
You can generate FOMO by using phrases such as ‘don’t miss out on’, ‘limited time only’, or ‘in demand’ in your marketing communications.
When customers see these types of messages it creates a sense of urgency and is likely to make them convert quickly as they don’t want to ‘miss out’. This is reinforced by the fact that 60% of millennials report making a reactive purchase after they have experienced FOMO, often within 24 hours.
Robinhood is an example of a fintech that has done FOMO right. When rolling out their new messages tab, they trailed the new offering with only a select few customers. Those who received the new beta feature felt honoured, whereas those who didn’t created a buzz and engaged with the business as they were experienced FOMO.
Email marketing
Use personalisation tactics to accelerate your email marketing campaigns.
Through personalisation you can create and send individualised emails to meet your customers needs.
Personalised emails have higher open rates, with 83% of customers having said they’re more willing to share their data to enjoy a more personalised email experience.
A simple, but effective, way to personalise emails is by adding custom name fields. This can be done by adding custom code ([firstname]) into both the subject line and/or the body of the email.
By doing something as simple as adding the recipient’s name to the email marketing outreach, you could increase your click-through rates by up to 14%.
Product/service recommendations
A cookie is a small data file that a website saves to the user’s device (computer, laptop, tablet, or mobile) and, upon request, can be sent back to the website.
Cookie data helps marketers determine what their audiences’ interests are based on a browsing activity, purchases, and preferences.
They can analyse and track customers behaviour, helping to curate content and provide personalised product and/or service recommendations.
The data is gathered in numerous ways, such as:
- Previous website sessions
- User-generated data (like surveys and account settings)
- Behavioural targeting
- Real-time data (location, date, time)
Target customers get the opportunity to rate the campaigns and provide feedback based on whether they were pleased with the recommendation. Allowing them to filter out what they like and what they dislike, making recommendations more fine-tuned and even more personalised in the future.
Product/service recommendations are crucial in getting leads to convert. Those who engaged with a product recommendation had a 70% higher conversion rate during that session.
So, ensure you maximise your cookies and data by recommending products/services to those already engaging with your business.
The benefits of personalisation in digital marketing
Like all marketing efforts, personalised digital marketing comes with its benefits:
Boosts ROI
88% of customers want to see personalisation, in some format, from brands.
Personalisation in your digital marketing efforts will boost your return on investment by increasing conversion rates.
Those who choose to invest in personalisation are likely to reap the benefits of their investments.
Increases engagement
By collecting and analysing the right customer data, brands can create better more personal experiences.
Personalisation that incorporates knowledge gathered from pre-existing in-session analytics leads to a 45% increase in engagement rates.
Personalised content and marketing messages are likely to keep a lead on your website for longer and encourage them to engage with your business, as your content will be more targeted and meet your audiences pain points.
Higher conversion rates
When a company reaches a prospective client with a marketing message that is curated for them, the potential client is more likely to convert to an actual customer and make a purchase.
This is proven by the fact that 93% of companies experienced a rise in conversion rates after personalising their search engine marketing and a further 94% of companies that personalised their websites.
Overall, investing in personalisation helps boost conversions and drives sales.
Brand loyalty
The more engaged your prospects are, the more likely they are to convert. And the more they convert, the more likely they’ll be loyal to your business.
Customers want to see personalised digital marketing content, with 71% of customers expecting companies to deliver personalised interactions. Failing to meet their demands will push them to your competitors and reduce your ability to build a loyal customer base.
Personalisation allows you to nurture customer relationships and make that relationship more intimate. Personalised marketing efforts make customers feel special as they replicate the feeling of one-to-one communication.
The future of personalisation
As technology continues to rapidly evolve, new ways to connect and engage with customers will be born.
For businesses to succeed they will need to find innovative and inventive ways to connect with customers on a personal level.
37% of CMOs say that facial recognition, location recognition, and biometric sensors will become more widely used in personalisation. The next level of marketing personalisation is likely to include humanising digital marketing experiences through advanced AR technology, such as virtual reality, metaverse, and web3.
71% of consumers expect companies to deliver personalised interactions - as marketeers we can only expect this figure to grow.
Conclusion
Personalisation is a tactic used by marketers to help build stronger customer relationships with their target market.
Personalised digital marketing is more likely to capture your audiences’ attention, build a rapport, and get them to convert.
This marketing tactic comes with several key benefits. These range from brand loyalty to an increase in ROI.
Like every marketing trend, personalisation is set to evolve like many other technologies.
Blue Train Marketing is a full-service digital marketing agency dedicated to helping fintechs thrive. If you’re in need of marketing services with a personal touch, contact us today.
