Nearly a century ago, a technological advancement known as “the radio” made it possible for businesses to spread the word about their products and services with the masses.
Thus, mass marketing was born.
But as technology progressed, so did the method of marketing delivery.
With the development of the internet, the many devices it connects, and the analytical tools that tell companies how people are consuming their content came the birth of a whole new breed of marketing: One-to-one or personalized marketing.
Instead of a broad message delivered en-mass, personalized marketing promises “marketing designed with the individual in mind.”
It works because personalized marketing delivers the experience that modern, omnichannel consumers have come to expect. Which is impressive, because those expectations are at an all-time high.
By 2020, half of consumers will expect brands to anticipate their needs and reach out with relevant suggestions—before the shopper even makes first contact.
Today, three-quarters of consumers say they’re frustrated by irrelevant on-site marketing content. Nearly 80 percent of internet users in the U.S. believe personalized marketing increases their intent to buy. Which rings true, considering that statistics show shoppers who click on recommendations have a 70 percent higher chance of making a purchase.
While only 30 percent of marketers feel extremely satisfied with their current personalization efforts, those businesses who are trying are reaping undeniable benefits. Close to 90 percent of marketers in the U.S. have observed measurable improvements due to personalization. In fact, it could cut acquisition costs by half and increase the efficacy of marketing spend by as much as 30 percent.
Personalized marketing and content aren’t just “cool” extras anymore—they’re must-haves for the enterprise that wants to remain competitive and profitable in this century and beyond.
Journey through time with us from the Mad Men era to the integrated software frameworks of the future. Along the way, we’ll explore the history of personalization in marketing, current statistics, developing trends, and what today’s marketers can do to keep up with tomorrow’s personalization demands.