TheCustomer QT

TheCustomer Quick-Take: 2/21/23

In today’s edition of TheCustomer QT: 10 reasons why you need to keep investing in your personalization efforts, and a shout out to some of the projects and people of color who are making real impact in this space.

Feature: As We Celebrate Black History, Let’s Lift Up Black American Contributions

It’s an important moment to celebrate Black creators, artists, and leaders who are making history right now, shaping Black culture today, and making an important impact on this generation while inspiring the next.

Whither Personalization?

  • 80% of customers say they are more likely to buy from a brand offering personalization
  • Companies that generated 3x more return on investment after introducing personalization in their marketing campaigns say they consequently saw a 44.4% spike in customer loyalty
  • Improved customer experience – 64% of survey participants cite this factor as the main benefit of introducing marketing personalization into their brand
  • Increased conversion rates – 63% of survey participants cite this factor as the main benefit of introducing marketing personalization into their brand
  • Increased visitor engagement – 55% of survey participants cite this factor as the main benefit of introducing marketing personalization into their brand
  • Increased lead gen or customer acquisition – 43% of survey participants cite this factor as the main benefit of introducing marketing personalization into their brand
  • Improved brand perception – 42% of survey participants cite this factor as the main benefit of introducing marketing personalization into their brand
  • Increased customer lifetime value and loyalty – 36% of survey participants cite this factor as the main benefit of introducing marketing personalization into their brand
  • Increased revenue from e-commerce-generated sales – 31% of survey participants cite this factor as the main benefit of introducing marketing personalization into their brand
  • Increased retention rate – 25% of survey participants cite this factor as the main benefit of introducing marketing personalization into their brand
  • See you on Thursday!
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As We Celebrate Black History, Let’s Lift Up Black American Contributions

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The Customer Strategy Tool Kit

As with most things strategy, the simpler, the better. While I’ve seen some companies try to navigate up to ten customer segments, typically, those that have defined one, maybe two target customers do a much better job of customizing their value proposition, go-to-market and entire business model to their customers’ needs.

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