In the last few years you may have heard about the new hype in marketing: hyper-personalisation. Though it may sound like a buzzword, we aren’t just using it for the sake of it. We believe that hyper-personalisation is the present and future of marketing. Let us tell you why.
Personalisation in marketing.
The concept of personalisation within marketing has gained significant traction in the past years. And for good reason: personalised experiences have become a basic customer expectation. Research has shown that up to 71% of consumers expect companies to deliver personalised interactions.
Personalisation is not only something customers should want; 90% of businesses that apply personalised content see substantial benefits such as an increase in conversion percentages (Google and destination analysis). Businesses that are successful in the execution of personalised marketing see 8x the return on investment on marketing spend, and lift sales by 10% or more. In fact, those that excel in it see 40% more revenue than the average player.
The next step forward: hyper-personalisation
Hyper-personalisation is, as Salesforce calls it, “the next step forward”. It’s not just about showing the customer personalised and relevant content via their preferred communication channel, as is the case with personalisation. Rather, hyper-personalisation raises the bar further and targets the customer individually, essentially holding a one-on-one conversation with each customer across all communication channels.
Utilising real-time behavioural data and AI to inform decisions throughout the journey – from start to finish – the aim is to provide a data-driven, streamlined and highly relevant experience for the customer at each (micro)moment within the customer journey.
Though the notion of personalised marketing is understood quite well by many businesses and organisations, it is not always put into practice. Let’s start by identifying some common practices that are best to avoid in marketing.