Executing personalisation remains an area that a majority of companies struggle in.
Arm Treasure Data and Forbes’ research found that only 21% of businesses consider their personalisation efforts as “highly successful”, with over 10% of marketing budgets allocated to it. 54% of these businesses indicated exceeding their sales goals in the past year.
In addition to maximising sales and profit, personalisation also improved basket size for DTC (direct-to-consumer) channels. But despite 59% respondents considering serious efforts to be a year away, executing personalisation remains a struggle.
The respondents identified loyalty programs, mobile apps and product development as important areas for personalisation. Consumer electronics at 48% was found to be leading in personalisation efforts, indicative of a “high commitment level”. Retailers came in second at 46%, followed by consumer packaged goods companies at 38%.
[2 minute read]