Personalized marketing How much is enough? Bookmark has been added
Personalized marketing How much is enough?
Given the range of choices, learn how to find the right level of personalized marketing for your business.
When you’re a chief marketing officer (CMO), it can feel like there’s always something more you should be doing, some new technology or tactic you need to implement ASAP. And in the era of big data, digital marketing platforms, and real-time interaction, your options are legion. The ultimate objective? True one-to-one marketing. Deloitte Consulting LLP principal Dave Hanley defines this as “unique messages and content delivered to specific customers at the right time, on the right platform, in the right sequence, and with the right context.”
However, as with any business decision, there’s a difference between can and should. Just because personalized marketing is possible—and works wonderfully for some businesses—doesn’t mean it’s right for your organization. True personalization requires financial investments in analytics, implementation, and human resources. Part of a CMO’s job is deciding how to allocate resources to maximize ROI—and serve the company’s long-term vision.
So how do you determine which aspects of personalized marketing will best serve your business?
Hanley sees personalized personalization as a continuum, moving from broad marketing at one end to one-to-one marketing on the other. Depending on the personalization desired, the CMO can execute a step-by-step process to help answer that question for a particular organization.
This is not an all-or-nothing decision. Hanley suggests you think of where your business best fits on the spectrum by considering which level of personalization is right for you, both now and in the future. Armed with knowledge about your resources, budget, and goals, you’ll be equipped to move toward the level of personalized marketing that meets your company’s current needs—and yields the greatest ROI.
AdExchanger,“Personalized personalization,” February 29, 2016.