Top 10 Personalization Statistics You Need to Know: Why Personalized Marketing is the Perfect Choice

June 7, 2022

Personalization, if you think about it, is actually basic etiquette.

Huge companies like Netflix and Spotify in the entertainment industry, or Google in the tech industry are into personalization nowadays. The bet is big for personalization that even using the first name on messages has become the bare minimum. Hyper-personalization has become the standard. Consumers nowadays only expect brands to offer choices according to their personal preferences and behavior.

Even the modern-day technologies such as artificial intelligence (AI), machine learning (ML), and deep learning (DL) are into hyper-personalization too. The advancement in technology by the aforementioned are being used to study the behavior of the consumers. Some aspects that these technologies analyze are online and offline behavior of the consumer, search history, buying patterns, lifestyle and personal preferences.

According to a study conducted by the Boston Consulting Group, organizations with very impressive personalization strategies in the business are the ones gaining higher sales, having long lasting customers and having efficient marketing strategies. The growth rate of the company also increases from 6% to 10%.

Top brands nowadays are said to be investing in analyzing data of the consumers so they can use personalization more.

Being meticulous in personalization will quickly result in purchase from the target consumer even with minimal engagement from them. Below are ten insightful statistics that we have researched for marketers to continuously strive to ace the game in personalization. Getting more personal is always a right thing to do nowadays and these statistics support that claim.

According to Yieldify, 75% of consumers already agreed that they are meticulous in buying from brands that consistently offer personalized online experiences.
On the other hand, Salesforce said that 74% of Gen Z’s are always interested in personalized products, while only 67% are Millennials, 61% are Gen Xers and only 57% are Baby Boomers.
72% of consumers admitted that they usually respond to marketing messages that are highly personalized and tailored-fit for them.
As per Deloitte, 60% of millennials said that they will not hesitate to share their personal information to marketers that offer prizes, incentives and gifts in exchange for it, as long as the approach is highly personalized.
Again, Salasforce said that 52% of consumers expect brands to send them highly personalized email messages.
Also, 97% of marketers experienced a rise in the outcome of their marketing efforts when equipped with personalization, according to Salesforce.
Salesforce also discovered a whopping 97% of marketers that admitted they had an increase in sales after personalization efforts done in 2020 and onwards. And also, one fourth of marketers experienced an increase in their revenue due to personalization.
According to KO Marketing, 70% of brands that rely mainly on personalization have a whopping 200% of ROI from their personalization efforts.
Statista stated that 63% of marketers observed that personalization has increased customer satisfaction when used.
Another study from KO Marketing states that 51% of marketers said that ROI of organizations increased by 300% through the use of personalization.

So, what’s keeping you from getting personal to your clients? The numbers shown by the above statistics is evidence that personalization is indeed an effective tool not only for returning clients but also for the newly acquired ones.

Conclusion :

In conclusion, personalization has evolved from a simple courtesy to a fundamental aspect of effective marketing strategies. From addressing customers by their first names to leveraging cutting-edge technologies like artificial intelligence, machine learning, and deep learning, the journey towards hyper-personalization has become the norm. Major players in various industries, exemplified by giants like Netflix, Spotify, and Google, recognize the significant impact personalization has on consumer engagement, loyalty, and overall business success.

Generational nuances also come into play, with younger demographics, such as Gen Z, expressing heightened interest in personalized products. The shift toward personalization is evident in consumer responses to marketing messages, as 72% admit to favoring personalized and tailored-fit content. Marketers leveraging personalization witness positive outcomes, with a staggering 97% reporting increased effectiveness in their efforts.

Coinflip Marketing serves as a testament to the transformative power of personalization in marketing strategies. The statistics presented here make a compelling case for businesses to embrace personalization not only as a means of retaining existing clients but also as a potent tool for acquiring new ones. The evidence is clear: personalization is not just a trend but a proven strategy for enhancing customer satisfaction, driving sales, and ultimately achieving remarkable returns on investment. So, in the era of hyper-personalization, what’s holding you back from making Coinflip Marketing an integral part of your client engagement?

Frequently Asked Question:

1. Why is personalization considered essential in today’s business landscape, and how can it benefit companies?

Personalization is a fundamental aspect of modern business etiquette, evolving from using first names in messages to hyper-personalization tailored to individual preferences. Major players like Netflix, Spotify, and Google utilize advanced technologies like AI, ML, and DL to analyze consumer behavior, leading to increased sales, customer loyalty, and efficient marketing.

2. What impact does personalization have on consumer behavior?

According to Yieldify, 75% of consumers prefer buying from brands offering consistent personalized online experiences.
Salesforce reports that Gen Z (74%) and Millennials (67%) are particularly interested in personalized products.