Personalized Marketing: What It Is and Why You Should Use It for Your Business

  Businesses today are constantly looking for ways to stand out from the competition and grab their customers’ attention. And with the advancements in technology, this has even become more difficult as businesses don’t have other businesses alone to worry about but also other contents out there. If you are a business owner and you’ve thought about this also, one effective strategy you can adopt is personalized marketing. But what exactly is personalized marketing, and why should you adopt it for your business?

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Personalized marketing involves tailoring your marketing efforts to meet individual customer preferences based on data collected about them, such as their online behaviour, purchase history, or interests. This technique is highly effective, as it delivers targeted content that resonates with each customer, making them feel valued and understood. Think about how Netflix suggests shows you’ll love or how Jumia recommends products based on your past purchases. These are all examples of personalized marketing at work. As a business owner looking to deepen relationships with your audience, personalized marketing can be a game-changer, fostering brand loyalty and boosting conversions.

What Is Personalized Marketing?

Personalized marketing is about delivering custom-made content that addresses the unique needs and preferences of each customer. Instead of adopting a “one-size-fits-all” approach, personalized marketing makes use of customer data such as demographics, behaviour patterns, purchase history, and interactions with the brand. Now, don’t confuse this with the usual email marketing trick of using {FIRST NAME} in emails. No, it goes beyond simply addressing a customer by name in an email. It’s about making the customer feel understood and valued. Neil Patel, a renowned marketing expert, emphasizes that companies should analyze demographic and behavioral data to speak directly to customers on the platforms they use most often, creating meaningful engagement​. For instance, if you run a business that sells fashion accessories, a personalized marketing strategy could involve sending a returning customer an exclusive offer on a handbag that could match a shoe they previously bought from you. This type of targeted interaction can significantly increase the likelihood of a sale, as the message feels relevant to the customer. This is what companies like Amazon do. They offer you product suggestions based on your browsing histories and previous purchases. This type of data-driven marketing creates a seamless experience that keeps customers coming back, boosting both sales and customer retention.

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Why Should You Implment Personalized Marketing in Your Business?

1. Improved Customer Experience

Personalized marketing delivers content relevant to the individual customer. This creates a better overall experience, leading to more engagement. Think about how offering personalized services can set your business apart, making your customers feel valued.

2. Higher Engagement and Conversion Rates

Studies have shown that personalized marketing boosts engagement significantly. When customers feel that a brand understands them, they are more likely to interact with it. According to HubSpot, emails with personalized subject lines are 26% more likely to be opened, and targeted emails increase click-through rates by 14% and conversions by 10%. This means that businesses utilizing personalized marketing can expect higher engagement from their customers, leading to more sales.

3. Building Stronger Customer Relationships

One of the main goals of personalized marketing is to build stronger connections with customers. By addressing them directly and showing that you understand their preferences, you can increase trust and loyalty they have for your brand. Building genuine connections with customers creates long-lasting relationships that benefit both parties. You can take a cue from global brands like IPSY that offer personalized beauty product subscriptions based on customers’ preferences. This kind of approach can help your business stay top-of-mind, as customers are more likely to return when they feel that you truly understand their needs.

How to Implement Personalized Marketing in Your Business

1. Leverage Customer Data

The first step to implementing personalized marketing is gathering relevant data about your customers. This could include their purchase history, browsing behavior, or even social media activity. This could mean using social media analytics or various website tracking tools to better understand what customers are looking for.

2. Segment Your Audience

Once you have gathered the data, segment your customers based on their preferences. For example, if you run a fashion business, you could categorize your audience into groups such as “casual wear buyers,” “corporate wear lovers,” or “accessories.” This makes it easier to send personalized recommendations that appeal to each group.

3. Use Personalized Email Campaigns

Email marketing is one of the easiest ways to start with personalization. By addressing customers by name and sending them offers tailored to their interests, you can increase open and click-through rates.

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Concluding Thoughts

In today’s highly competitive market, if you must stand out from the competition, you must go beyond generic marketing. And this is what personalized marketing offers you – an opportunity to connect deeply with your customers, improve their experience, and increase conversions.  If you are not already using personalized marketing, now is the time to do so and watch how it can transform your business.

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Got a suggestion? Contact us: editor@connectnigeria.com

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This article was first published on 8th November 2024

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