The majority of people are willing to offer their data in exchange for certain incentives and benefits. Despite knowing that, marketers have yet to fully deliver on the promise of customized content and offers, and it can be difficult to know how to take full advantage of this opportunity.
At RampUp 2019, we brought together Karisa Booker, Director of Guest Analytics at AMC Theatres; Brandon Meyers, CRO of Adara; and moderator Joe Stanhope, VP and Principal Analyst at Forrester, to discuss how marketers can accelerate their journey to true personalization.
Watch the full panel discussion here:
Don’t have time to watch right now? Here are three questions about true personalization answered in the session:
What is the biggest misconception most brands have about data and personalization?
Many marketers think personalization means being a near-constant presence in a customer’s life, but that can do more harm than good. Bombarding consumers with the same message across too many channels can dilute its effectiveness, even if it’s relevant. Brandon suggested marketers ask themselves, “Am I overexposing this person to my brand?”
You can deliver the right mix by focusing on targeting messages from both a personalization and a platform perspective, Karisa said. She added, “There will be some messages we’ll push cross-channel, but not everything necessarily needs to be.”
What data moves the needle for delivering personalized experiences?
Transaction data is key. But Brandon noted this data is scarce in most companies, so second-party data can help augment that limited understanding of consumers.
Since most people only see a few movies in the theater each year, AMC is one such company that lacks enough data to accurately understand its audience’s preferences. To get a better baseline of what film buffs are looking for, Karisa shared how AMC created a portal on its website and asked its customers about the genres, actors, directors, and theater amenities they liked best. In exchange for each answer, customers were entered into a sweepstakes for a screening of their choice. Filling out gaps in purchase data can take a little creativity, but the benefits can be well worth the investment.
Is personalization worth it?
Running an ROI analysis for every campaign can help answer that question, Karisa shared. Brandon cited the importance of A/B testing to measure ROI and gain insights for future campaigns.
Of course, personalization is part of a broader push towards creating exceptional customer experiences that drive stronger engagement and loyalty. As moderator Joe Stanhope pointed out, “I don’t see ROI as the motivator for personalization. I see personalization much more from clients who are trying to deliver a stronger experience to customers.”
Want to catch more RampUp 2019 sessions? Watch them on demand here.