One-size-fits-all marketing strategies are from a bygone era. More than a century ago, even John Wanamaker knew that something was off, famously saying, “Half the money I spend on advertising is wasted. The trouble is I don’t know which half.”
Dare I drop the term “big data” once again, but the truth is the access and application of layers and layers of data give marketers the opportunity to engage consumers with the right message, at the right place, at the right time.
No company may demonstrate personalization better than Amazon. Log in and you quickly notice that products are displayed based on your past purchases, searches and interests. Jump on over to any of the company’s Prime apps for movies, TV shows or music, and Amazon leverages similar data sets to recommend new titles or tracks. Leave Amazon without a purchase, and, no matter what sites you visit, you’ll be served ads for the Amazon products, movies or music you looked at, nurturing (persuading) you to return to complete the sale.
Creepy? Intrusive? Only if it’s not relevant! A recent study by customer experience platform Monetate indicated that 85 percent of consumers understand website tracking enables them to receive offers and content that match their interests. And 75 percent of consumers actually prefer that retailers use personal information to improve the shopping experience. Basically, consumers are saying that if retailers are going to use their info, they better use it to their benefit.
Companies are making online personalization a top priority. For retailers like Amazon, it’s fairly obvious for consumers to see what is happening. But online personalization is not always so overt and is not limited to consumer markets. B2B digital marketing is getting more and more personalized, too. As I write this, MCC is developing and preparing to execute a highly targeted digital advertising campaign in a category no broader than consumer automotive. No 25-54 spray and pray here! We’re also working with a B2B client to deploy a data management platform (DMP) to store and analyze audience data and sync it up with a Demand Side Platform (DSP) to serve distinct, personalized experiences with their brand. Check back here in a few months when we hope to be able to share the success stories!
With personalization, you can cast a wide net while staying hyper-focused on your highest-priority audiences. Sounds difficult, but with MCC’s digital media experts, it’s simpler and easier than most expect and can result in more open doors for your company.