Personalization is increasingly important to merchants seeking to engage shoppers, according to a new report, “The Clear Path to Personalization.” The report is based on a survey of 200 retail marketing executives conducted by Forbes Insights and Arm Treasure Data. 40% of respondents said that adding personalized elements on their websites and adopting personalized marketing tactics helped boost their sales and average order value, according to the survey, which did not give specific figures for how much the sales or average order value was boosted. Plus, 37% of respondents credit increases in sales and customer lifetime value to personalized product or content recommendations. And 35% have seen increases in transaction frequency as a result of their personalization strategy. Click Read More below for additional information.
In a world where everyone is scrambling to label themselves “data-driven,” catalog marketers and direct mailers get to claim veteran status. We were data-driven before it was cool, back when it was called “direct marketing.” And as the digital person at an agency with a long history of direct marketing, I’ve never understood the rush to abandon print marketing in favor of digital, when they so clearly complement each other.
Print is high cost, high touch, high impact, where digital is low(er) cost, low impact. What do I mean by that? We like to say print is for the important, meaning print is a high-impact driver that can really get critical messages the attention they deserve.
Take a look at average response rates: Direct mail has average response rates from 4.9% to 9%, whereas most digital channels have conversion rates ranging from 0.77% to 1.3%. But where one is weak the other is strong. Typically, print can touch a customer a handful of times per year or season at best, but it’s a powerful touch that drives action. Meanwhile, digital can follow a person everywhere year-round, keeping top-of-mind awareness high.
much more at source: https://www.piworld.com/article/why-print-is-a-digital-champion-plus-how-to-measure-success/#ne=d7f0e6e16b0d037f71fc050491da5623&utm_source=today-on-piworld&utm_medium=newsletter&utm_campaign=2020-03-10