The State of Personalization

The State of Personalization

Which industries are embracing personalization and what are they spending to do so? I recently authored four reports that dive into how B-to-B, ecommerce/Retail, Financial Services, and Travel/Hospitality marketers are embracing personalization.

Part of our Relevancy.AI Research Subscription, these reports provide insight into the state of personalization including the aspirations, budgets, and tactics of these marketers.

This collection of industry insights offer benchmark data for those marketers in these key industries and a valuable perspective for vendors that offer personalization technologies.

Across industries, one thing is clear; personalization works and more marketers across industries need to advance their targeting tactics to capture and convince prospects and clients alike.

If you are a subscriber to our research, you get these four reports.  Ask us about how to become a subscriber. All of the reports are available for one-off purchases.

What do Consumers Want from Retailers This Holiday Season?

What do Consumers Want from Retailers This Holiday Season?

To better understand purchasing motivations, attitudes and behaviors, The Relevancy Group and Zeta Global are conducting a survey of 1,000 consumers in the U.S. We will be sharing these results and last-minute holiday recommendations on Wednesday 11/14 at 1 PM. Register for the webinar and get a link to a recording of the webinar that will be filled with data and recommendations.

Looking Back on 2017
In 2017 just 15 percent of consumers stated that they planned to spend more on holiday spending than they did in 2016 while 64 percent stated about the same as year over year. While the economy in 2018 is good, Chinese Import tariffs are raising prices at big-box retailers, i.e. Walmart, that rely on offshore goods. This likely won’t impact overall spending, but the consumer’s dollar may not go as far in 2018 as it did last year. In 2017 consumers under the age of 39 were more likely to spend more on holiday purchases a trend we expect that we will see again in 2018.

Consumers continue to shift their holiday spend online. Last year 56 percent of consumers stated they would do half or more of their holiday shopping online. Overall ten percent of consumers shop exclusively online, a trend we expect will grow to 12 to 14 percent in 2018. Last year consumers aged 27-53 are most likely to do the majority of their holiday shopping online.

Year-over-Year Consumers are consistent with their holiday shopping plan, with 29 percent already shopping for the holiday season. Eighteen percent start after Halloween and the majority start after Thanksgiving. Last year 20 percent stated they have no set plan. Half of women start their holiday shopping before Thanksgiving a trend that we expect to continue to see this year.

Holiday self-gifting was up year over year from 2016 to 2017 increasing from $243 to $264. We will likely see an increase again in 2018, but we don’t expect it to be as large in years past. This is likely because of the higher cost of products and the general impact of the dollar.

Next time we will look back on what motivates consumers to purchase and what opportunities exist for marketers this 2018 holiday season.

Join us on November 14, at 1 PM ET for the 2018 consumer holiday results.

Until next time,
David

Holiday Planning: What Do U.S. Consumers Want This Year?

Holiday Planning: What Do U.S. Consumers Want This Year?

By David Daniels, CEO and Founder of The Relevancy Group

Holiday PlanningWhat are U.S. consumer behaviors and attitudes this holiday season? Zeta Global recently partnered with The Relevancy Group to answer this question. Register to listen to a recording of the webinar, which highlights the attitudes and behaviors of consumers in the U.S. this holiday season.

We’ve highlighted the five most significant findings below, along with last minute tactics that marketers should embrace for the all-important holiday season.

1. U.S. Consumers are Engaged with Email All Day Long
Ninety-two percent of U.S. consumers are engaged with email every day. Fifty-four percent stated in a Relevancy Group survey that they check email multiple times a day. Another 17 percent state hourly or more frequently and still another 21 percent state daily. Email is a fixture in consumers’ daily life. It serves as the online digital fingerprint that is required to transact will retailers, banks and just about everything that is represented online: a fact that I have stated for a long time. Consumers state that non-relevance and high frequency will drive email marketing avoidance stressing how important it is for marketers to be relevant in order to stand out from their competitors.

2. Phones & Tablets are Increasingly the Primary Email Inbox and Shopping Device Among Consumers
Forty percent of U.S. consumers state that their mobile phone is their primary email inbox (i.e. phone first) and another 10 percent say the same for their tablet. The other half state that it is a mix of laptops and desktop computers. Overall 86 percent of U.S. consumers state they access their email account via a mobile phone, which is a well-known ubiquitous behavior. This behavior and the growing number of phone-first email users requires marketers to be well-versed in designing for these screens. Marketers must embrace responsive design, deep linking app technology and mobile measurement to understand this profound shift of email consumption on mobile.

3. Focus on Hygiene to Advance Holiday Email Campaign Results. Address Churn and Inactivity.
Consumers are nomadic. Twenty-nine percent of U.S. consumers stated in our survey that they have changed or created a new email address in the past year. Most change their email address not because of a life event like marriage, divorce or graduation but instead because of the promise of better security, speed and solutions, i.e. a better app features. Marketers must recognize this churn and have an ongoing win-back campaign, as well as target non-response email subscribers in other channels such as display and social. This is all made possible by leveraging identity resolution and implementing people-based marketing tactics (See The Future of Relevance).

4. Holiday Spending Attitudes
Sixty-four percent of U.S. consumers state they will spend the same as they did last year, 21 percent will spend less than last year and 15 percent state they will spend more. These numbers are up slightly from what U.S. consumers told us in 2016. For those of us that are more exclusively online, we are warmed by the intent that U.S. consumers have told us: 46 percent state they will spend half or more and another 10 percent state that all their holiday budget will be spent online. Just 10 percent state that they will not be shopping online. As of today, 47 percent of U.S. consumers already started their holiday spending and we will see the rest explode onto the shopping scene the last week in November and early December.

5. Self-Spending: The Often Forgotten Indulgence Gift Marketing Tactic
Who among us doesn’t love to buy themselves a gift or two? The Relevancy Group often notices that marketers forget to utilize this tactic, the notion of self-giving, that is unless you are a Zeta Global client. Zeta Global’s work with many clients on this topic is interesting but we love the bold work they have done with Ann Taylor where the email plainly states, “Everyone Else’s Gifts Can Wait,” and then there is a time-limited offer to get a significant self-shopping discount. The tactic is genius, as the discount is not going to be policed as who can tell whom you are spending on, but most important supports self-indulgence. U.S. consumers tell us that on average, they intend to spend $264 on themselves this holiday season. Personally, I like to order from gifts for myself from Amazon throughout the year. I get them gift wrapped with a note to myself, and by the time I get around to opening it on Christmas I often forget what I purchased. This year, I need to remember not to do Amazon Fresh this way: unwrapping old organic eggs on Christmas morning can make for an unpleasant unboxing.

Wishing you all a successful holiday season.
Until next time, Happy Holidays.

David

 

 

David Daniels