Hope you had an awesome weekend. I definitely had a great time spending time with my family & celebrating Raksha Bandhan.
Talking about Raksha Bandhan, I always think why does only a sister tie rakhi to her brother? Why does a brother not tie rakhi to his sister?
Raksha Bandhan symbolizes the brother's pledge to protect his sister from all miseries. While we talk about gender equality all the time, while celebrating Raksha Bandhan we symbolize the fact that a brother protects her sister & not vice versa.
But, a sister definitely protects her brother too. And if we are to celebrate gender equality, brothers should tie Rakhi's to sisters also. That's why I tie a Rakhi to my sister too. Change starts at home, right?
Coming back to the world of marketing & retail, today's edition is gonna be all about personalization.
Here's what we'll be talking about today:
- Personalize Or Perish: State Of Personalization Report For 2021
- 3 killer personalization campaigns that worked wonders
- How Taco Bell launched a new menu with an 88x ROI using personalization
📊Personalize Or Perish: State Of Personalization Report For 2021
Even before the pandemic, we knew data and personalized marketing would be essential for brands looking to build solid, long-term relationships with their customers. Still, when the pandemic forced brands to ditch nearly everything for digital platforms, personalization became an even more dominant force.
Reports show personalization has never been more necessary for brands looking to last the year, let alone the next decade.
Personalization as a “Basic Expectation”
The average shopper expects brands to remember them—their preferences, their history, their location, their sentiments—on every channel, at any given time. In order to survive in the current marketplace, they will need to re-think how they use their resources: how they collect and manage data, how they process that data meaningfully in real-time, how they build seamless cross-channel experiences, and how they show their customers they know and understand them in a way that resonates at every click.
Understanding the Data: What Personalization Means to Customers
While many companies are trying to keep up with personalization, there’s a clear gap between what they are providing and what customers really want. Brands need to:
- Act on the data they have.
- Invest in accurate, real-time data.
- Invest in first-party data
If Personalization is Table Stakes: What’s Next?
If your company is in a situation where you can’t scale both channels and personalization equally, choose to focus on personalization in the few channels you know you can manage best. Given a choice, 61% of consumers say they’d prefer fewer, better channels when shopping with a brand.
With the proper application of data, tools, and experiences, the right customers will find you, and by investing in personalization, you’ll find great fulfillment in knowing them, inside and out.
🧐3 killer personalization strategies that worked wonders
Developing a personalized marketing strategy takes a lot more effort than just directly speaking to a subgroup. Each person must feel as though the brand is directly addressing them. Here are some examples:
- Louis Vuitton's ‘My LV’ Line: Forbes estimates Louis Vuitton to be worth $39.3 billion in 2021. One of the reasons the brand continues to stay current and popular is personalization. The My LV line allows buyers to personalize products to a degree that it nearly looks like a custom design. Additionally, it encourages user-generated content.
- Cadbury's Personalized Facebook Campaign: Cadbury launched a Facebook campaign in Australia that played with the idea of Facebook's personalized videos. It used information from user's profiles to match them with one of the brand's new flavors, then created a video for them using pictures from their profile.
- Spotify’s End-Of-Year Wrapped Report: The templated social graphics and custom playlists make easy influencers out of Spotify's 286 million-plus users. The report also shares if you’re in the top percentage of an artist’s fanbase, adding a level of competition that users are eager to share.
Explore more such campaigns here
🤑How Taco Bell launched a new menu with 88x ROI using personalisation
Amidst everyone launching their products with fancy videos and images, Taco Bell did something amazing. They created product launch journeys for each customer.
There's a common trait that you'll observe in Xeno, no one ever settles for just ordinary.
To give the customers a break from all those clichéd product launches, Xeno partnered with Taco Bell to create product launch journeys for each customer.
We linked the new products to each customer's previous experiences at Taco Bell and created a personalized journey for each of them leading to a massive ROI of 88X.
We are spilling all the secrets behind making this campaign a huge hit.
🧐 What's cooking in the Marketing & Advertising World?
- .WhatsApp Introduces Payments Backgrounds to Let You Personalise Money Transfers With Friends, Family
- Realme and Xiaomi get into Twitter wars
- How is ICC marketing a virtual trophy tour?
That's all that I had for today. Take care & stay safe :")