A frustrated consumer is never good for business. Three out of four consumers become frustrated when website content isn’t relevant to their interests, according to Janrain. The fact is, if your content doesn’t resonate with your target audience, you might as well ask them to ignore you.
According to Monetate, marketers see an average sales increase of 20 percent when employing content personalization. Because of convincing statistics like this, personalizing your content marketing message is critical for generating leads and conversions.
Below you’ll find four statistics that show consumers prefer personalization, even if it does mean sacrificing a bit of their privacy.
FACTS DON’T LIE
35% of Amazon’s revenue are generated by its recommendation engine, according to Venture Beat.
Personalization is hot! While it’s not surprising that Amazon rakes in the cash from product recommendations, the fact that recommendations constitute such a large percentage of the company's net revenue is notable.
This statistic shows that personalization is actually more popular than people might realize. It’s not overtly obvious how valuable product recommendation sales are for Amazon, but this statistic puts an end to that mystery.
75% of users select movies based on Netflix’s recommendations, according to a Gigaom article.
This statistic says two things: First, Netflix’s recommendation system works well. Second, Netflix users overwhelmingly find value in using recommendation feature.
Netflix collects a TON of data about its the users. To shed some light on this: Netflix receives about 4 million ratings per day, 3 million searches per day, geo-location data, metadata from third parties like Nielsen, and more. This huge amount of data allows Netflix to provide users with recommended films and television shows based on what they previously watched or what’s popular in their area.
Essentially, Netflix created a genomic web of its films that, when paired with big data, has resulted in very accurate, effective, and engaging personalized recommendations for its users.
61% of consumers feel better about a company that delivers custom content, and are more likely to buy, according to Demand Metric study.
Consumers are willing to share their data with you, so why not use it to your advantage? A study conducted by Accenture found that while 86 percent of surveyed consumers said they were concerned that their data was being track, 85 percent said they realized that data tracking make it possible for retailers to present them with relevant and targeted content.
For consumers, being tracked by companies is a necessary evil when it comes to receiving a personalized content experience. Be sure not to cross the line by over-personalizing your content. Consumers don't want to buy from a company they knows too much about them.
88% of marketers are considering adding content marketing personalization to their plans, according to a Direct Marketing article.
The overwhelming majority of marketers are embracing content personalization. Some might argue this might not be the best argument for embracing content personalization as a practice. However, given the fact that only 12 percent of companies surveyed said they aren’t planning on adding content personalization to their plans, it definitely says something significant.
Do yourself and your business a favor and embrace personalization as quickly as possible. If you still need to be educated on content personalization basics, I encourage you to check out some of my earlier blog posts on the topic.
The sooner you begin taking the necessary steps towards personalizing your content, the sooner you can begin reaping the benefits—increased conversions, increased leads, and decreased bounce rate.
PERSONALIZATION IS POWER
In the digital marketing space, personalization is critical when it comes to capturing the attention of consumers. Consumers have the tools to avoid irrelevant content on the Internet and they aren’t afraid to use them.
Who can blame them? Consumers are growing increasingly accustomed to personalized content, which also means that it is becoming increasingly important for companies to provide personalized content. For now, consumers are willing to share their data if it means they receive a personalized shopping experience in return.
Eventually, companies may track and collect consumer data whether we like it or not. This is why it's best to jump on the content personalization train early on.
