A research study to understand what it takes to turn personalization goals into measurable ROI
Marketers acknowledge that personalizing communications is a worthy goal. Personalization increases loyalty, drives higher conversions, and ultimately increases revenue. It is understandable that the path to personalization for some companies is challenging and as a result, marketers have created segmentation strategies rather than building a truly personalized experience.
Monetate kicked off a research study to understand what it takes to turn personalization goals into measurable ROI. This study details results of over 130 senior marketers who had shared their challenges and success with us. Companies that were studied include those who reported to have exceeded revenue expectations over the last 12 months against those that met or missed their revenue goals.
Key takeaways from the report:
- Documenting a personalization strategy impacts your ROI. 79% of those that exceeded revenue goals have a documented personalization strategy.
- Dedicated investment into personalization is a must. Those that exceed revenue goals have a dedicated budget for personalization 83% of the time.
- Personalization efforts increase profitability. 95% of those that get 3x ROI from their personalization efforts increased profitability last year.
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