New Report: The Need for Hyper-Individualization
In our survey of 2,000 U.S. consumers, we found that over half (58%) are more loyal to brands than they were five years ago. This consumer loyalty translates directly to higher brand engagement — and more dollars spent. But with so many brands in the marketplace and the uncertainty of the pandemic, reaching consumers is more difficult than ever. Our results indicate true 1:1 personalization is critical to earning consumer loyalty. Read our report and learn:
• Our 4 key findings and tips for marketers and customer loyalty experts: 81% of consumers are willing to share basic personal information in exchange for a more personalized experience.
• Why basic customization and segmentation tactics are no longer enough — 75% of consumers said the marketing emails they open frequently contain segmentation, indicating these are now table stakes.
• How Millennials and Generation Z compare with different age groups (and income levels) when it comes to personalization and customer loyalty.
Download the report now.
Personalization Is the New Norm
More than three quarters (77%) of respondents told us that across the various touchpoints of their retailer interactions — emails, apps, notifications — most are personalized either somewhat or extremely frequently. In other words, personalization alone is no longer a differentiator.
But brands have a long way to go
“Consumer loyalty has risen to new heights in the last five years, but it hasn’t been a boon for every brand,” said Formation.ai co-founder and CEO Christian Selchau-Hansen. “Garnering loyalty is increasingly difficult, especially with the economic uncertainty brought on by COVID-19. The need for brands to deliver real value has become more dire as shoppers evaluate purchasing decisions against personal safety and tighter household budgets.”