One of the biggest myths with personalized marketing is that it can be too difficult or too costly to implement. Consider the results. Marketers can expect to see an average 20% increase in sales when utilizing personalized experiences. Personalized videos can earn more than a 150% increase in click-through and over 110% increase in overall conversions. You’ll soon realize that the cost of customer acquisitions and retention is far more expensive than creating personalized experiences. Also – implementing a successful personalized marketing strategy is much easier than most think!
If you are looking for your piece of the pie, or are re-evaluating how you approach the launch of your personalized marketing strategy, you have clicked on the right blog. Here are a few ways you can implement personalization in your marketing strategy.
1. Begin by Asking the Right Questions
Prior to your one-to-one marketing strategy, consider the following questions to understand how your organization will handle implementation.
What type of messaging do we need when approaching our consumers?
What mediums should we use?
What type of content are we capable of producing? What’s in our budget?
What current customer data can we use and what do we need to start gathering?
Do we have the right team and resources in place to build and grow this strategy?
2. Put a Data Gathering Plan in Place
Now that everyone is on board, it’s time to break ground and start digging! This is when you will need to gather valuable information from both your current and prospective customers. Here are some consumer touchpoints that are excellent for data gathering:
Online Activity & Behaviour
Customer Service Records
WATCH: See how customer data is collected and implemented in real-time with this interactive personalized video below.
3. Analyze and Segment Your Users
You can have all the raw consumer data in the world, but if you fail to properly sort through and identify key consumer insights, you will have a harder time matching the right message to the right person.
Begin segmenting your database by different marketing personas. Once you have these properly defined, you can begin planning different personalized messages to each one, that touches on each cohort’s specific pain points.
4. We Have Lift Off
You and your team are prepared, you’ve got the right tools, and you’ve gathered enough raw customer data to begin sorting through – now you’re ready to launch.
All that’s left is to choose the medium you see as being the most profitable way to reach your customers. Today, nothing online is engaging consumers more than personalized video. See below how IndiVideo by BlueRush works to deliver the best type of personalized content for your business.
For more insight into how you can creating successful personalized marketing campaigns with video, stay tuned to the BlueRush blog.
Since 2003, our tools have helped the top North American financial institutions, including wealth, banking, and insurance, to create empowering and competitive digital financial experiences. We’re revitalizing financial tools and services to help your customers make active financial decisions with absolute confidence in your products.
Larry Lubin is founder of BLUERUSH and has over 30 years of experience providing strategy and solutions to many of North America's leading financial firms. Many leading applications for financial institutions were developed by Larry and teams he has worked with throughout his career.
As CEO of BLUERUSH, Larry is providing a much needed vision for a new age of FINTECH bridging the realities of legacy and the regulatory environment with unlimited possibilities through advancement in digital technology to empower the consumer. BLUERUSH is a digital solutions company specialized in financial service and healthcare solutions.