Trending for 2023: Personalization in Small Business
It happened during the pandemic—this increased reliance on all things digital. It’s a great thing for digital marketers, but it can be tricky to maneuver when everyone is being bogged down with the same messages from nearly every company across the globe. Now that the new year is officially in full swing, we thought we’d talk through a key trend that could help your small business go from good to great: Personalization. Today’s consumers are being hit with more and more digital advertising, along with new brands and new products to discover. The ocean of things vying for everyone’s attention gets larger by the minute. As a business owner, you probably already understand the importance of a value proposition—you know, the benefit your business can provide that no one else can. This year, we predict personalization is going to take the top spot in marketer’s tool chest—having a great strategy is going to be what gives your business its competitive edge. Here are a few trends to keep an eye on.
Just how much has personalization exploded recently? Let’s break it down: In 2021, the Global Personalization Software Market size was at roughly $764 million and is estimated to grow to $2.2 billion by 2027. This just means that the tools for personalization are getting a lot more attention than in prior years. They’re getting smarter, too. Consider something called one-to-one (or 1:1) personalization, which is defined by Insider as “a marketing strategy that uses data to deliver highly individualized messages and offers to current or future customers. One-to-one personalized marketing helps marketers to provide an enhanced and effective customer experience to their users and improves the overall marketing impact and metrics.” This type of personalization relies heavily on customer data to help you offer tailored emails, promotions, product recommendations, or services to your customers in what is called “omnichannel marketing.” Emails, for example, can utilize this data to populate a customer’s name in the subject line of the email, provide personalized messaging and deliver curated recommendations. This allows the customer to feel like the company they’re engaging with knows them on a more personal level.
Mobile App Personalization
We’re on our phones all the time—not just to scroll through social media, but to make purchases as well. Pew Research notes that 76 percent of customers report making a purchase through their smartphone, however the personalization available on mobile apps is seriously lacking. There is huge opportunity to focus on mobile personalization and create a tailored experience for consumers. According to a post on Instapage.com, “personalized push notifications have helped generate an 800% higher open rate than generalized push notifications sent to the masses.” Pretty cool, right?
Focus on the Long Haul
Rather than sending personalized messages to customers only during certain parts of their interactions with your business, consider personalizing the entire customer journey. While you should certainly be engaging customers when they first visit your website or make a purchase, there are plenty of areas of opportunity to take the curated experience even further. This strategy might sound tricky, but technology is getting smarter and the amount of customer data we have available is constantly increasing. In 2023, we predict an even greater ability for businesses to deliver personalized experiences from start to finish (and beyond).
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