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Personalisation, Big Data

Pushing personalisation to its limits

Written by Jason Groom
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Originally published
March 30 2016,
updated
May 19 2020

“Half the money I spend on advertising is wasted; the trouble is I don't know which half.” You’ll have heard that hundreds of times. And Jon Wanamaker’s famous quotation sprang to my mind last week as I read the Biznology statistic that, at least in the B2B arena, data is said to be decaying at a stonking rate of 70% p.a.* Similarly, we don’t know which 70%!

The decaying data dilemma has always had a part to play in the marketers’ reluctance to push personalisation to its limits. The recent Tealium/Drum** report “The Pressure to Personalise” which surveyed 200+ UK marketers explored the other contributing factors; this is a summary of its key findings:

  1. 69% believe that personalisation is “very important” to the customer experience
  2. And 80% believe that it impacts significantly on brand perception
  3. While the channels capable of personalisation continue to grow, only 40% are unifying customer data across these
  4. Technology, budget and expertise all rated as greater barriers to personalisation of the customer experience than data
  5. 42% are providing dynamic content to their customers (though hardly any are providing dynamic creative)
  6. While data does figure, technology, budget and expertise are felt to be the greater barriers to dynamic content too
  7. On the plus side, 60% believe that they and their organisations are learning and becoming more sophisticated with their personalisation
  8. However, consumers tended to disagree with this. In a WARC study some 40% of consumers found “nothing of interest” in the personalised communications they received.
  9. Email ranked as the top marketing channel for “personalisation effectiveness”
  10. Offline was ranked 5th (out of 8)
  11. 53% are currently providing an offline personalised experience
  12. This 53% is a sharp increase from the 23% in 2014***

Knowing it yields results means that marketers will continue to put themselves under pressure to tailor, customise and bespoke their messaging; while the mounting expectation and demands from customers probably won’t be great for their hyper-tension either!

* http://www.biznology.com/2015/02/b2b-data-decay-list-rental-buyer-beware/
** http://www.thedrum.com/news/2016/03/02/drum-research-finds-budget-and-technology-constraints-are-biggest-hurdles
*** Econsultancy’s 2014 Conversion Optimisation Report https://econsultancy.com/blog/65789-four-key-findings-from-our-conversion-rate-optimisation-report/

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