Author : Marketing
Marketing
15/Jan/2020

Espire Infolabs is a Digital Transformation and Total Experience (TX) Solutions provider with a Cross-Enterprise approach to deliver future-ready services that are resilient to market disruptions. With focus on TX, we are paving way for enterprises to deploy & deliver the best Customer Experience (CX), Employee Experience (EX), and Business Experience (BX) – with overarching service offerings around Multi-Experience (MX), and User Experience (UX).


Top Personalization Trends to watch out in 2020 | Part1

In present times, consumers get drawn to brands that provides exclusive customer experiences, and are ready to listen to them, along with delivering the right content at the right time. This is the age of personalized experiences and brands are increasingly creating relevant, contextual, and exclusive information and experiences - specific to every user's profile and persona.

For effective personalization, brands need to ask relevant questions from the perspective of their customers, such as whether one would like to receive personalized recommendations & offerings, or whether one would want to be offered relevant content pertaining to recently bought products/services, etc.

Here are some stats to substantiate the immense value that personalization brings with itself:

77% of consumers have chosen, recommended or paid more for a brand that offers a personalized service or experience - Forrester

Personalization can reduce acquisition costs by as much as 50%, lift revenues by 5–15%, and increase marketing spend efficiency by 10–30% - McKinsey

The top five benefits of personalization include increased visitor engagement (55%), improved customer experience (55%), improved brand perception (39%), increased conversion rates (51%) and increased lead generation and customer acquisition (46%) - Evergage

Now, let's talk about the top 10 personalization trends that marketers will leverage 2020 onwards - to offer superior personalized experiences.

1. Omnichannel Personalization

When personalized experience is offered to customers based on the real-time data collected from all the channels & extended to them across every touchpoint, to build a connected & consistent relationship with the customer, it is referred to as "Omnichannel Personalization"

The year 2020 will see a growth in omnichannel pursuit by brands as the new-gen customers tend to research and gather information about a product on one device and make the buying decision on another device. The approach by brands till now, was to focus on a variety of siloed channels, preventing them from getting a deep understanding of customer’s journey and delivering unique interactions across different channels however in today’s competitive world, it is imperative for brands to ensure seamless and personalized experience for their customers every-time, everywhere.

2. Personalization to become Top Priority

With the growing expectation of customers for contextual and relevant buying experiences, personalization has emerged as the top priority for brands and this will continue to be the trend for many more years to come. Personalization as an approach has been in vogue for past few years, however its actual implementation is still in question.

With the emergence of innovative tools & technologies, the year 2020 will see a dramatic shift towards execution of personalization efforts as the Marketers, today, are seeing tremendous growth in the results with their personalization strategies. In a recent survey, 90% of marketers reported a lift in their business results, owing to their personalization efforts & 77% of the marketers leveraging Machine Learning reported a lift greater than 10%, emphasising the importance of personalization in their marketing strategies

3. Increased Personalization Budgets: Higher Spending

A study based on a survey of 600 marketers in North America and Europe, ranging from different sectors including insurance, hospitality, travel and retail, found that 74% businesses have a dedicated budget for their personalization strategy. A vast majority of companies (86%) garnering higher ROI reported to have spent more than 21% of their marketing budgets on personalization activities.

A new SoDA study has reported a significant increase in personalization budgets by brands despite of lag in capabilities, which signals that with the growth of technological innovations & enhancement of capabilities, brands will be increasing their personalization spends even more to execute these strategies. The findings also revealed that 97% of market leaders plan to increase their investments in 2020.

4. Website Personalization to be Trendier Than Ever

The website is the most important and powerful touchpoint for brands to attract, engage & retain customers on the go. A highly responsive/personalized website is essential to offer above-par customer experience with personalized & dynamic content

Website personalization addresses, user expectations & needs and delivers unique customer-centered solutions to visitors based on their personas, attitudes, behaviours and purchase patterns for a unified experience. Emergence of Big Data, Artificial Intelligence and Machine Learning, is helping brands to provide highly personalized and contextual experiences for customers, resulting in boosted conversion rate, higher site visits, increased orders and higher return on investments.

5. Focus on Mobile First Approach

With the staggering growth in the mobile devices across the world, the number of users accessing the mobile platform has far outpaced the desktop users with 80% of global web traffic spanning smartphones. This has increased the importance of providing superior experience to customers on the smaller screen. The year 2020 will continue to see the increased adoption of mobile-first marketing approach by brands.

Delivering positive experiences with the robust mobile user experience during the customer’s journey has thus become a trend for brands today. A research by Google reports states that the majority of consumers refused to buy products from companies with poor mobile experience while 90% of users with great mobile experience recommended the product. A recent study by Boston Consulting Group states that a rapid growth of 10% has been observed for companies embracing mobile personalization indicating that the future for brands seems to be shifting towards a mobile-first strategy.

Conclusion:

With the advent of revolutionary technologies led by Artificial intelligence, NLP, Predictive Analytics, Big Data and Machine Learning, the capabilities of brands in 2020 will see a tremendous growth, helping them to offer more personalized and automated conversations. Brands can now reach millions of customers with ease and target them with relevant communications, by leveraging huge data at hand and availability of information pertaining to customer behaviour, buying patterns, device type used and browsing activity of the customer.

Watch out this space for the concluding part of this series, where we will deep dive into other personalization trends that would be creating a buzz in 2020.

Espire's Digital Experience Platform (DXP) solutions are empowering businesses and marketers with the ability to engage with the hyper-connected, on-the-go customers of today in a more meaningful, highly personalized and contextual manner seamlessly across all brand touchpoints - globally and locally. We provide an agile, collaborative and connected framework that leverages your technology ecosystem to intelligently arrange and orchestrate fragmented engagement systems and existing silos. Get in touch with us at marketing@espire.com for any query, free demo and assistance.

MORE FROM OUR BLOGS

Delivering Consistent And Compelling Customer Communication With Self Serve Communication Portal

Delivering Consistent And Compelling Customer Communication With Self Serve Communication Portal

Supporting & Building Digital Solutions for Improving Customer Experience

Espire upgraded their existing corporate website to Sitecore version 9.1 for streamlining navigation issues, upgraded their E-commerce platform for delivering personalized customer experiences, deployed Sitecore technical enhancements to improve development process like refactoring, Unicorn, Glass mapper and T4templates, Search etc

A Leading Offender Management Software Solution Provider Gains the Competitive Edge of Agility

The client is a leading provider of offender management product, catering to the Governments sector mainly to Canada, USA and UK. With the aim of becoming agile by automating the internal processes and modernizing the systems, the client decided to develop an application to assess their end-client’s business process environment.

Powering Digital Transformation by revamping Quote & Buy process for a UK based leading Insurance company

Espire enhanced the existing Digital Transformation Journey using Umbraco CMS,Designed and implemented Umbraco based system for content management of the forms and modules

Optimized data and content management with Azure-based solutions for a leading Singapore-headquartered transshipment hub

The customer's existing website was deployed on-premises and leveraged a WCM platform, Joomla. They required a strategic technology partner to carry out Azure migration and eliminate on-premise hosting environment. They also needed managed support services for monitoring website up-time and efficient incident management.

Role of data analytics to drive customer acquisition and maximize return on campaigns

Creating a customer-centric digital marketing strategy that accurately targets and addresses your customers’ needs is essential for any business. However, this can be challenging when you lack the right tools and data to help you do it. In this article, we’ll be focusing on how you can use data analytics in your digital marketing efforts to acquire new customers and retain current ones.

Sitecore Symposium 2022 Check out latest updates and announcements

Sitecore made some huge announcements during the Sitecore Symposium 2022 event to continue their journey to build and help and their customer and brands to deliver standout CX through innovative solutions that drive results and build customer loyalty. Learn about all the announcements and updates now.

Sitecore managed cloud drive digital experiences at scale with cloud

Businesses have started investing in digital experience platforms and technologies aggressively to drive omni-channel digital experiences throughout the customer journey. Sitecore empowers businesses to host their different DXP products on cloud, Sitecore Managed Cloud helps them streamline system integration, enhance the speed of deployments while providing improved security and data privacy.

Digital Communications and CCM Solutions 4 key initiatives to Improve Customer Experience

Digital communications help in stitching your prospect to customer journeys together by keeping them actively engaged and allowing them to re-initiate conversation from where they left off. Delivering contextual and interactive communications can help the customers take the next step and reach out to you through the channel convenient for them.

Total experience digital transformation strategy for global businesses

The Total Experience strategy has emerged as a key trend for businesses to drive better digital experiences for users, customers and employees while improving business growth

Subscribe To Our Blog

By clicking on "SUBSCRIBE NOW" you acknowledge having read our Privacy Notice.

global-locations

12

+

Global Locations

global-services

100

+

Global Customers Served

resources-certified

1200

+

Resources

technology-partnerships

30

+

Technology Partnerships

years-of-experience

20

+

Years of Experience in Digital Transformation & Total Experience