Individual recognition is becoming a big part of marketing, with 44% of marketers currently using this strategy and 38% planning to implement it in the next 12 months. But what exactly does this mean and, more importantly, what does it mean for marketers?
This strategy is based on the people-based marketing model and is all about understanding and building relationships with consumers across channels. It’s increasingly necessary for marketers to meet consumers’ need for relevance and individual recognition, both offline and online, especially since 55% of consumers ignore or opt-out of messages they don’t find relevant to themselves.
All of this factors into the top three priorities for marketers right now. Let’s explore:
Improving the Customer Experience
By blending online data with CRM data, marketers are able to view customers as individual people, which then allows them to make identity-driven lifecycles for each individual. They must also ensure that online and offline experiences are in sync, so that the benefit of an offline experience can also be enjoyed digitally, and that there are no gaps in the full brand experience.
Improving Relevance with Customers
Digital marketers must recognize customers as individuals to provide personalized offers based on behaviors, attitudes, demographics and location. One third of the market (and growing) is adopting probabilistic, deterministic or blended identity management methods to do this.
Utilizing Real-Time Data
Over one third of marketers are using real-time data and therefore need high functioning Email Service Providers. Leveraging real-time data allows for greater precision and makes use of past and current behavior to predict future behavior. In email marketing, 28% of marketers are using online tactics to reach customers rather than A/B testing, with the former gaining popularity as madtech (the convergence of mar tech and ad tech) allows for increasing connectedness between platforms.
In order to meet these top three priorities, a trend of turning to services to help with implementation of new strategies has emerged. Over the years, the meaning of an ESP has evolved from an Email Service Provider into an Everychannel Service Provider, and marketers are taking note of these more sophisticated offerings. In fact, almost 90% of marketers choose everychannel attribution for measures of success.
Over 25% of marketers have sought outside agencies to assist them in the organizational changes necessary to move in the direction of people-based marketing, but it’s becoming more and more common to use vendor services too for this implementation. By relying on their ESP to handle madtech, the marketer’s life becomes a bit easier as there are fewer vendor relationships to straddle. In fact, those using a service-driven approach to people-based marketing earn an 8% higher site conversion, 23% higher monthly revenue, a higher Average Order Value, and increased site visitation.
With 48% of the quick-to-adopt enterprise-sized companies already using people-based marketing, this trend isn’t going anyway anytime soon.
To learn more listen in to subject-matter experts from The Relevancy Group and Epsilon for an interactive conversation on the necessity of people-based marketing — reaching individuals, not demographics — and learn the strategies/tactics to help optimize your marketing programs.