Using the mere exposure effect to retarget campaigns, risk compensation theory, social proof or using someone else's halo are just some of the ways marketers can influence purchasing decisions. Most of us like to believe that we’re inherently logical people, especially when it comes to purchasing decisions. However, we’re not computers. No matter how logical we try to be, emotion always influences our decisions to some extent. Psychologists refer to these emotional factors in our decision-making processes as “cognitive biases.” Without even realizing it, we make most of our decisions based on these emotional biases and build our logical arguments for doing or buying something around justifying our emotions. This is good news for marketers. If you understand how cognitive biases work and how to use them in your marketing, you can make people feel like you have a better product, service or company. Click Read More below for additional detail.
For years, marketers have debated the importance of personalized, people-based marketing as a means of communicating more effectively and efficiently with prospects and customers. But while many marketers were treating personalization as a “nice to have” for their campaigns, it has become an absolute imperative for a growing number of consumers.
Infogroup recently surveyed more than 1,500 consumers to gauge their current attitudes and preferences when it comes to personalized advertising. We found not only that personalization has become an expected component of modern brand messaging, but also that its absence can have serious repercussions.
How Important Is Personalization?
Most marketers recognize that personalized communications with consumers are desirable, but few may realize exactly how important customers and prospects consider this form of tailored messaging. In our survey, 93 percent of respondents reported that they’d received marketing communications that were not relevant to them.
While the notion that nearly every consumer has received irrelevant brand communications or offers isn’t terribly surprising, the potential repercussions for these errant bits of messaging might be. In fact, 44 percent of consumers are willing to switch to brands that better personalize marketing communications. Think about that: Nearly half of consumers are willing to walk away from brands with whom they already have a relationship because of a lack of personalization.
more at source: https://multichannelmerchant.com/blog/why-consumers-prefer-personalization/