2017 was the year Gartner cited personalization as the #1 strategic investment area for retailers. And for those who didn’t prioritize the customer experience, it ended up costing $756 billion in lost retail and brand sales in the US alone.
So, why aren’t all companies serving individualized experiences? From our experience talking to hundreds of customers, we tried answering that question, but realize now, it’s probably due to having missed out on all (or some) of the expert advice we shed on taking advantage of the opportunity that is personalization this past year.
Which is why we’ve rounded up the top posts of 2017, ICYMI.
Jeff Bezos called it in a Letter to Amazon Shareholders in 1997, stating “Today, online commerce saves customers money and precious time. Tomorrow, through personalization, online commerce will accelerate the very process of discovery.” And basically, tomorrow is now. If you need more proof as to why you have to start personalizing the customer experience and journey, just read the states and quotes referenced in this post.
Massive AdWords budgets, TV ads, programmatic campaigns, and giant blimps drain marketing budgets to drive traffic to your website while minimal attention is spent converting visitors once they arrive. In this post, discover how to make the most of your existing website traffic by deploying real-time personalization so you can have more money to invest in acquisition, improving results at all stages of the purchase funnel.
To build or not to build, that is the question. Scalable personalization is a daunting task that requires vast engineering resources and years of expertise to successfully execute, so should marketers build or buy the technology to personalize experiences for your customers? There’s no simple answer, however, the six main factors to consider in this post will prove helpful as you ponder the build vs buy decision across your organization.
There are now a whopping 5,000 marketing technology vendors. Despite this, only 9% of marketers say they have all the marketing technology they need and fully utilize it. Furthermore, 55% of marketers say that technology is only “marginally” improving marketing performance at their company. To understand why this is and whether or not you should purchase one unified platform or several point solutions for personalization, check out the different options available in this post.
We’ve heard it all before, omnichannel retailing reflects the true experience of today’s customers. However, while all agree this is what marketing should strive for, the fact of the matter is that no one fully understands it, making omnichannel a buzzword many vendors like to over-sell. This article investigates why this is and how brands can more realistically leverage omnichannel retailing for increasing revenue through personalization.
Not analyzing the results of your A/B tests properly could mean the difference between potentially massive uplifts and diminishing returns. By addressing some of these common testing mishaps and introducing more reliable approaches to measuring the efficacy of your experiences, you can be sure to leave this post knowing how to optimize for success.
More than 100 leaders in marketing, media, and technology gathered for Dynamic Yield’s “Personalization Pioneers Summit” at Soho House Berlin. Top brands took the stage to discuss how to run hundreds of concurrent experiments across channels and devices, and these were the five takeaways we gleaned from Europe’s savviest digital professionals.
With personalization set to push a revenue shift of some $800 billion over the next five years (which you know by now, obviously), only a mere 15% of companies will get it right. Hopefully, by investing some time into reading the articles above, you will feel more prepared to make personalization a part of your brand’s mission now, so you can be of the few who will reap the rewards to come.