Advanced personalization can add $20 or more to general campaign revenue for every $1 invested in it. But can you get into the game without committing a monumental amount of time and money?
Absolutely! A new Liveclicker report, Cost-Effective Personalization: Relevance the Smart Way, analyzes ROI data from personalization in The Relevancy Group’s landmark study, The Value of Personalization Optimization for Retailers.
The report shows how incremental innovation and the right technology partner can help your marketing team take that big leap, even if you don’t have an Amazon-size marketing budget.
Upgrading from “batch and blast” or broadcast email, where everyone on your mailing list gets the same message, to highly personalized messaging is like going from 0 to 75 MPH in 6 seconds flat. You can’t do that unless you have the right car, and you can’t go from zero to advanced personalization without the right email marketing platform.
Cost-Effective Personalization: Relevance the Smart Way analyzes The Relevancy Group’s data and results from a survey of 400 marketers and concludes, “Every brand needs to be using advanced personalization techniques, no matter their current level of personalization efforts or technology sophistication.”
That’s because the ROI is so clear:
“Retailers who used advanced personalization reported monthly revenues 17% higher than those who only used basic personalization.”
And there’s this:
“Personalization based on real-time data drove 9% higher revenues than personalization based on click behavior, and 6% higher than personalization based on inventory.”
The key is to define your goals first and then work with a technology partner to find the path that will help you achieve it. Technology like Liveclicker’s RealTime Email focuses on testing and ROI, so you can find out quickly what’s working and how it affects your bottom line.
Together, these can help you rack up some early wins that can persuade management to invest even more in advanced personalization.
These two brands compete successfully in two white-hot markets: women’s fashion and jewelry/accessories.
Download the report to learn just how these brands blow past their campaign goals and build stronger, more engaging relationships with their customers.
But if you want a sneak peek, here’s this:
One brand sees promotional campaigns delivering additional traffic and sales even after the promotion ends. The other brand uses live images to make its emails more shoppable. Both brands use real-time data, but each one uses it in a way that’s appropriate to its own goals.
Be sure to get your own copy of the Relevancy Group/Liveclicker study The Value of Personalization Optimization for Retailers, too! Finally, check out our Resources page for other helpful guides that tackle the topics marketers wrestle with most, like using advanced personalization to compete with Amazon and overcoming the challenges that hold them back from implementing innovative technology.