Today, marketers are caught between the pressures of fickle customers and a hypercompetitive business environment.They are forced to engage the customers one-on-one, based on their terms of engagement.
But, do efforts at customization and providing personalized marketing solutions provide any significant benefits?
A survey conducted by SAS and Leger Marketing in May 2012 among Internet users based in Canada reveals that 64% of respondents are able to distinguish between companies that do their homework to provide tailor-made marketing initiatives and those that don’t. Almost an equal number, 60% of the respondents, prefer receiving personalized offers and promotions while 51% of the respondents’ state that they are more likely to make a purchase from these companies.
The survey results provide two significant insights:
First, marketers may no longer have a choice in this matter. They have to profile customers and fine-tune methods to engage them on their likes and preferences.
Second, today’s customer has a high level of awareness that can’t be taken for granted. When they have a need, they are more likely to look around and compare offerings. With technology leveling the playing field, most brands offer similar value for money. In these scenarios, the marketer taking the pains to engage the customer on a personalized level will make the difference.
Marketers must leverage “big data” from their social media, websites, and every other place online to identify prospects, understand their likes and dislikes, and work towards positioning their products and services. Such an individual level campaign would prove more effective than generic campaigns.
Are you customizing your marketing campaigns?