Marketing professionals agree on the importance of personalization but struggle with implementation
Conversant today announced the results of a commissioned study conducted by Forrester Consulting on behalf of Conversant focused on personalized marketing. The study, entitled "The Personalization Imperative," found that marketers and insights leaders have great belief in the power and benefits of personalized marketing but need additional outside help to overcome internal challenges as they work to deliver on their visions.
Forrester solicited the opinions of customer insights and marketing professionals across multiple industries, and found that 94 percent rate personalization as "important," "very important," or "extremely important" for meeting their current marketing objectives. However, more than half reported some concern about "major or extreme" challenges to implementing and expanding the role of personalized marketing in their businesses.
- 66 percent see this level of challenge in securing internal resources to execute personalized marketing programs
- 65 percent face this degree of hurdles in building a comprehensive single view of each customer across all sales and marketing channels
- 63 percent are concerned at this level about data privacy
Despite these challenges, the majority (almost 75 percent) of those surveyed indicated that they plan to increase investment in some or all personalization capabilities.
"We believe the study quantifies a trend we've seen in countlessmeetings with publishers and advertisers where marketers are struggling to turn their big consumer data assets into actionable personalized communications," said
Scott Eagle, chief marketing officer at Conversant. "The most successful companies will be those that can use consumer data to craft relevant messages for each individual consumer to drive and solidify long-term relationships."
The study concludes with four important recommendations for companies seeking to plan, implement or expand their personalization strategies:
- Define clear goals and objectives as the basis for creating a personalization roadmap.
- Asses the current state of your personalization maturity based on what is possible today.
- Develop programs to leverage your consumer data for real-time personalization
- Overcome internal resource constraints by identifying partners that understand how to turn big data into deep and actionable insights to help meet your personalization initiatives.
To further address the complex issues revealed in the study, marketers need to seek partners with comprehensive privacy-compliant capabilities, and sophistication in data onboarding, collection and management.
To obtain a complete copy of the study, go to http://go.conversantmedia.com/the-personalization-imperative.html.
About Conversant, Inc.
Conversant, Inc. (Nasdaq:CNVR) is the leader in personalized digital marketing. Conversant helps the world's biggest companies grow by creating personalized experiences that deliver higher returns for brands and greater satisfaction for people. We offer a fully integrated personalization platform, personalized media programs and the world's largest affiliate marketing network - all fueled by a deep understanding of what motivates people to engage, connect and buy. For more information, please visit www.lonp2.com.