The trend towards personalized print marketing has spread to digital brands such as Amazon, Spotify, and Netflix along with major tech brands like Google and even healthcare providers. All types of industries and companies are realizing that personalization gives them an advantage in retaining their target customers. It’s important to start by pointing out what we mean by personalized print materials. This isn’t as simple as only including first name of the consumer and expecting it to make a difference. Today’s consumers expect brands to display personalized content or choices that are tailored to their preferences and buying behavior.
Advanced technologies such as artificial intelligence (AI), machine learning (ML), and deep learning (DL) are making hyper-personalization more relevant to customers than ever before. Hyper-personalization analyzes both offline and online behavior, consumer search history, buying patterns and preferences in order to identify the ideal product or solution options for a specific consumer.
Recent studies show that companies with successful personalization strategies enjoy increased sales, marketing efficiency, and long-lasting customer relationships as well as a 6%-10% bump in their growth rates. The brands that succeed are the ones that embrace data and use the information they gain as a stepping stone to successful personalization. A meticulous personalization strategy will quickly escalate to the purchase phase with minimal interaction, while creating long-term customer loyalty.
Let’s look at some stats that show hyper-personalization increases both brand loyalty and the bottom line.
The Gen Z Population is Most Interested in Personalized Marketing Products
It has been reported that 74% of Gen Zers are interested in personalized products compared to 67% of Millennials, 61% of Gen Xers and 57% of Baby Boomers in the current consumer market. While the Gen Z population is showing a higher percentage, don’t discount any of the other groups, as all of them are above the 50% mark. Not too bad!
Personalized Print Messages Have a Higher Response Rate
A whopping 72% of consumers claim they respond to marketing messages that are specifically crafted to reflect their preferences, as opposed to marketing messages that are generic in their approach and content.
Most People Will Share their Information so they can Receive Customized Messaging
When it comes to sharing personal information, 60% of millennials say they would not hesitate to share their information in order to receive special offers and targeted messages that suit their personal interests. In other words, don’t be worried about asking for personal information, as many people are willing to share it with you, as long as there’s something in it for them
There’s a High Chance it Will Increase your Business
The use of personalized messaging gave 97% of marketers a growth in their business. This should convince you to use personalized print marketing for your next print campaign as these numbers show the huge growth your business can enjoy.
Advanced Personalization Can Increase ROI by 200%
A total of 70% of brands that used advanced personalization enjoyed a 200% increase in ROI from their efforts. This number proves the power of personalization and the benefits you can enjoy from this simple marketing strategy.
Increase Your Customer Interaction & Conversion Rate
Around 63% of marketers say personalization increases their customer interactions and this leads to improved conversion rates. While this seems like an obvious thing to say, not every business understands the branding and marketing power of personalized print marketing efforts. Put the power of personalization to work for your business and watch your conversion rates grow.
Apply Personalized Print Across Multiple Pieces to Increase the Results
Personalized print is supported by 51% of marketers who say personalization across multiple touchpoints increased their total ROI by 300% (and more). When planning your personalization campaign, only sending one marketing piece, with limited personalization, does not show consumers you really care about them. They want to know that you have their best interests in mind and sending multiple personalized mail pieces shows consumers you really want their business.
Personalized print marketing has the ability to increase your ROI as well as consumer interactions with your brand. Be sure and include personalized messaging in your upcoming print marketing campaigns.
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