If you’ve done the research on personalizing marketing
strategies, you know there’s no shortage of ways to optimize your outreach. And
in fact, though there are many approaches to reaching customers and
anticipating their wants and needs, the truth is that any customer-facing
strategy that attempts to convert without a conversation is falling short in
In the sixth annual Econsultancy Conversion
Rate Optimization Report
, in association with RedEye
, 50% of marketers
admitted that their personalization strategies were “standalone,” meaning they
relied on on-site data to target content or offers, instead of using integrated
data from multiple channels. When you can shift an outlook from simplistic and
flat data to a rich and dynamic array of data provided by consumers themselves,
you’re truly optimizing that conversion opportunity.
Preference management – the active collection, maintenance
and distribution of unique consumer characteristics, such as product interest,
communication channel preference and frequency of communication, allows
marketers to get a full spectrum of the customer. Opting in with self-reported
data on preferences allows consumers to give you a fuller view that’s anything
but standalone. Even if you start your marketing program with an entry point as
simple as opt-downs as opposed to the so-called atomic opt-out, you shift the
black-and-white, yes-or-no to a moment of engagement. And that initial
personalization has the potential to leapfrog the standalone siloed data like
geography, referrals, search queries and device type. Those data points are
good, but not great.
Utilizing preference management allows you to build
personalized experiences for consumers that promote consistent service, lifetime
loyalty, and repeated opportunities for conversion.
Are you still using segmentation strategies to personalize
your marketing? Is it good? Is it great? Consider whether your single-faceted
data is providing the whole picture of your customers. The sooner you can begin
a customer engagement journey, the sooner you’ll go from being in good standing
to being in great standing.
Eric V. Holtzclaw is Chief Strategist of PossibleNOW. He's a researcher, writer, serial entrepreneur and challenger-of-conventional wisdom. His book with Wiley Publishing on consumer behavior - Laddering: Unlocking the Potential of Consumer Behavior - hit bookstores last summer. Eric helps strategically guide companies with the implementation of enterprise-wide preference management solutions.
Labels: Econsultancy Conversion Rate Optimization Report, eric holtzclaw, market strategies, personalization, personalization strategies, personalized experiences, preference management, RedEye