Effective Advertising: 5 Things You Need To Know About Personalization Software
by Sumona Technology 14 April 2022
Though the real world is still filled with billboards and sparkling signs advertising whatever the highest bidder wants to put there, the digital world is different.
Experiences are becoming far more personalized – it’s the equivalent of everyone in Times Square seeing different billboards as they stroll through. With the average person spending around seven hours a day online, this is valuable real estate.
You’ve likely already invested in essentials like AP automation and project management platforms. The next big investment to consider is personalization software.
Let’s take a look at the five most important things business owners need to know about personalization tools.
List of 5 Factors To Know About Personalization Software:
1. Demographic profiling will only get you so far
The days of casting a broad net in advertising are coming to a close thanks to the rise of personalization software. These tools allow you to zero in on the right customers at the right time, making the process more effective for you and more natural for them.
2. Cyber security is essential
Personalization is only possible if you have personal data from your customers and subscribers.
In the digital world, there are few things more valuable than data, and unfortunately, cybercrime syndicates are all too aware of just how precious the data you store on your customers is.
So, if you wish to provide a personalized experience for your existing and prospective customers, it’s essential to have effective cybersecurity and a cloud-based data recovery strategy in place.
3. There are still plenty of quirks to iron out
As with all forms of AI, the algorithms behind personalization software have a learning curve ahead of them. Even major eCommerce sites like Amazon still don’t have personalization perfectly nailed down.
For example, enough Amazon customers have apparently purchased white rice and a certain brand of eyeliner together that rice now comes up as a recommended product if you place this eyeliner in your basket.
4. Most customers love the personalization
This is one advertising technique that’s as beneficial for customers as it is for businesses. In fact, surveys have found that around 74% of customers prefer web content that’s personalized.
In terms of conversion rates, a whopping 92% reported that they’ve been influenced by personalized product recommendations made to them at checkout (the other 8% were probably offered rice by Amazon).
Consider your own email inbox for a moment. How satisfying is it to find a dozen random offers from companies you vaguely remember buying from in the past?
How much more satisfying would it be to find a 20% discount from your favorite tea company just as the last packet you purchased from them is running out?
5. There’s more than one way to personalize
You don’t have to make a massive up-front investment in complex AI to start personalizing your approach to marketing and customer care.
You can start with the simple strategies of collecting customer feedback and A/B testing to see what works and what doesn’t. From there, you can build and invest in your personalization strategy methodically.
The old way of advertising is coming to an end, and this is a good thing for businesses and their customers. Thanks to personalization software, brands are able to connect with customers at the right time and with the ideal product to suit their needs.
Customers feel seen, heard, and valued, while business owners can see their advertising budgets truly working for them.