Marketers are thinking “outside the box” in response to the UK’s current economic slump and, rather than cutting back, almost half (44%) are actively investing in experimentation to deliver more relevant, data driven, campaigns and boost revenue.
That is according to new research from Optimizely, the digital experience platform provider, which reveals marketers are testing all number of strategies to deliver personal experiences that drive revenue and boost customer retention.
Although the various techniques are not revealed – after all, marketers always seem reluctant to give away their “secrets” – “The Personalised to Personal Report” does explore the financial benefit of delivering targeted experiences that are “truly personal”.
Based on a study of 100 UK marketing leaders and 1,000 UK consumers, the research shows that an overwhelming majority of marketers (75%) believe it is “more important than ever” to find new ways to optimise their personalisation strategy during tough economic times.
With almost every brand now using personalisation, 70% of marketers say they are marrying personalisation with experimentation to get ahead of the competition and deliver content that will stand out.
The report argues that this is a smart move, at a time when two-thirds (65%) of consumers are more loyal to brands that get to know them at a personal level.
Optimizely CMO Shafqat Islam said: “At a time when UK consumer spending power is at its lowest levels due to high inflation, it’s more important than ever for brands to deliver online experiences that demonstrate they understand consumers, including their preferences and needs.
“Experimentation is one of the smartest investments a brand can make. It allows companies to properly understand their customers’ behaviours and make decisions based on data, rather than assumptions, in order to provide the tailored experiences that customers love – driving loyalty and boosting brands’ bottom lines.”
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