Use Personalization To Drive Loyalty And Customer Obsession

Page created by Curtis Robinson
 
CONTINUE READING
Use Personalization To Drive Loyalty And Customer Obsession
LICEnSED FOR InDIVIDUAL USE OnLY

Use Personalization To Drive Loyalty And
Customer Obsession
by Emily Collins
January 28, 2020 | Updated: January 30, 2020

Why Read This Report                                                                   key Takeaways
The personalization imperative for loyalty is                                          Personalization Is Too Purchase Obsessed
clear: Companies that can’t meet customer                                              Companies are increasing investments in
expectations for relevance and value risk losing                                       personalization; but the way they use it today is
their customers to brands that can deliver. But                                        too focused on delivering next-best offers, and
it’s hard to get personalization right. Marketers                                      product recommendations are often irrelevant.
collect information that they can’t use and rely
                                                                                       Use Three R’s To Enhance Your Efforts
too much on simplistic product- or purchase-
                                                                                       To capture customer attention and show value,
focused tactics. This report helps B2C marketers
                                                                                       ensure that your marketing personalization delivers
adjust their personalization approach to create
                                                                                       relevance, builds resonance, and shows restraint.
memorable and meaningful experiences for their
best customers.                                                                        Start With Your Loyal Customers
                                                                                       The best place to improve personalization is with
                                                                                       your best customers: You have the most data
                                                                                       about their purchases and preferences, and they
                                                                                       already like you.

This PDF is only licensed for individual use when downloaded from forrester.com or reprints.forrester.com. All other distribution prohibited.
FORRESTER.COM
Use Personalization To Drive Loyalty And Customer Obsession
For B2C Marketing Professionals

Use Personalization To Drive Loyalty And Customer Obsession

            by Emily Collins
            with Brigitte Majewski, Chahiti Asarpota, and Madison Bakalar
            January 28, 2020 | Updated: January 30, 2020

Table Of Contents                                                        Related Research Documents
 2 To Win Customer Hearts, Loyalty Marketers                             The Best Of Times And The Worst Of Times For
   Need To Get More Personal                                             Segmentation

   Today’s Personalization Approaches Actually                           Marketers Versus Customers: Opposing Forces
   Undermine Customer Relationships                                      Erupt

 3 Advance Customer Obsession With Proper                                Value For Customers: The Four Dimensions That
   Personalization                                                       Matter

   Follow The Three R’s Of Personalization

   Launch With Loyal Customers First

Recommendations                                                                                    Share reports with colleagues.
                                                                                                   Enhance your membership with
 8 Match Personalization Tech To Customer
                                                                                                   Research Share.
   Needs, Not Channel Needs

10 Supplemental Material

                   Forrester Research, Inc., 60 Acorn Park Drive, Cambridge, MA 02140 USA
                   +1 617-613-6000 | Fax: +1 617-613-5000 | forrester.com
                   © 2020 Forrester Research, Inc. Opinions reflect judgment at the time and are subject to change. Forrester®,
                   Technographics®, Forrester Wave, TechRadar, and Total Economic Impact are trademarks of Forrester Research,
                   Inc. All other trademarks are the property of their respective companies. Unauthorized copying or distributing
                   is a violation of copyright law. Citations@forrester.com or +1 866-367-7378
For B2C Marketing Professionals                                                                      January 28, 2020 | Updated: January 30, 2020
Use Personalization To Drive Loyalty And Customer Obsession

To Win Customer Hearts, Loyalty Marketers Need To Get More Personal
Personalization is on marketers’ minds and part of their budgets: It was the Association of National
Advertisers’ (ANA’s) 2019 marketing word of the year, and 48% of global B2C marketing decision
makers with marketing budget for technology said they would increase their spend on content and
personalization technologies in 2019.1 It’s critical for meeting the ever-increasing expectations of
empowered consumers and building the kind of customer relationships that lead to long-term loyalty.
This is because personalization:

 ›› Captures consumers’ focused attention. Even the most rudimentary personalization tactics —
    such as including a customer’s name in a communication — invoke the so-called “cocktail party
    effect.”2 Content and experiences that are relevant to the customer’s context in that moment cut
    through the cacophony of brand advertising to inspire something other than a knee-jerk unsubscribe.3

 ›› Drives loyal behaviors. This tuning of consumer attention delivers immediate ROI for brands:
    All the companies we interviewed for this report saw measurable lift on personalized campaigns.
    Rewards members at a major pharmacy retailer converted 30% more than average with offers
    that were personalized. But it goes beyond that next purchase, too. For instance, Belgian energy
    company Eni uses personalized videos to improve an often-negative moment of the customer
    experience — bill shock. The videos, which help customers read and understand their monthly
    charges, resulted in higher Net Promoter Scores, more on-time payments, and an uptick in self-
    service account creation.4

 ›› Delivers the kind of value for which customers are willing to give up their data. Consumers
    are more aware than ever that companies want their personal data for marketing purposes.5 But
    they’re willing to share it only if they get something out of the deal, too.6 Effective personalization
    establishes that win-win relationship: Your customers get a better experience, and you get access
    to the data you need to treat them better. Fashion retailer Express uses the information customers
    share in style quizzes and challenges to better understand their preferences and engage with them
    in nonshoppable moments.7

Today’s Personalization Approaches Actually Undermine Customer Relationships

Setting the vision for personalization is not an issue for B2C marketers: They see the potential power
of individualized experiences. Sonia Chung, VP of CRM and loyalty marketing at Rue Gilt Groupe,
explains, “We want to create a more anticipatory experience that’s responsive and guides buying
behavior based on our customers’ interests.” But across industries, execution challenges have stifled
the best of intentions. For the past three years, loyalty marketers cited personalizing content, offers,
and experiences as a top challenge.8 And consumers feel the pain. For example, while marketers’ top
tool is email, only 5% of US consumers say email offers are usually well timed to their needs. Here’s
what’s holding B2C marketers back from success:

                     © 2020 Forrester Research, Inc. Unauthorized copying or distributing is a violation of copyright law.                     2
                     Citations@forrester.com or +1 866-367-7378
For B2C Marketing Professionals                                                                      January 28, 2020 | Updated: January 30, 2020
Use Personalization To Drive Loyalty And Customer Obsession

 ›› Execution is too purchase obsessed. Most personalization today puts the business, not the
    customer, first. Current efforts are most often narrowly applied to product recommendations and
    next-best offers that will drive an incremental purchase to meet short-term revenue targets set by
    the business. “[Companies shouldn’t] always think of the communication as a next-sell avenue to
    drive revenue. It’s actually very impersonal to always be asking for another purchase,” says Don
    Smith, senior managing director, strategy & chief analytics officer from Brierley+Partners. A “do
    this, get this, buy this next” approach is too focused on what the business wants, rather than on
    what the customer desires.

 ›› The data they have isn’t what they need. Loyalty marketers are accustomed to collecting
    functional, first-party data that helps them link purchases to a single customer and layer in
    basic profile information. But that data doesn’t provide much insight on who the person is, what
    motivates them, or what they’ll need in the future — the things that make personalization more
    meaningful to the customer.9 Darwon Choe, previously of Formation, explains: “The traditional
    marketer’s instinct is to start and end with demographics and classic segmentation. But they’re not
    thinking of what personal interaction really means or what insights would make the interaction more
    valuable and have less friction.”

 ›› Tools, processes, and goals reinforce bad behavior. Good personalization is consistent
    regardless of where the customer chooses to interact. But many of the tools out there are built
    to market products and drive sales, not match up customers with the services, experiences,
    and content that meet their unique needs. Layer in resource constraints and organizational
    silos — since personalization can manifest in marketing, service, sales, product, and other types
    of experiences — and it’s no wonder personalization is a challenge. For example, a major US
    retailer tapped an executive to step into a project leadership role focused on operationalizing
    personalization and ensuring it was integrated across the enterprise.

Advance Customer Obsession With Proper Personalization
Companies that are customer obsessed have the happiest, most satisfied customers and enjoy the
highest revenue growth.10 When done well, personalized experiences — guiding, extending, and enhancing
customer interactions based on a customer’s history, preference, context, and intent — embody two key
principles of customer obsession: customer led and insights driven.11 Proper personalization focuses
on the customer rather than on the features of a brand’s products and services. Bowtech believes its
investments in personalization helped shift its marketing strategy from advertising products to advertising
the experiences that come with its products. Opting out of the “feature war” was a smart move: Bowtech
has stolen market share from its top competitors to become the leading archery brand in the US.

                     © 2020 Forrester Research, Inc. Unauthorized copying or distributing is a violation of copyright law.                     3
                     Citations@forrester.com or +1 866-367-7378
For B2C Marketing Professionals                                                                      January 28, 2020 | Updated: January 30, 2020
Use Personalization To Drive Loyalty And Customer Obsession

Follow The Three R’s Of Personalization

Personalization tactics span a broad spectrum (see Figure 1). But whether you’re targeting offer
content based on customer segments or leveraging machine learning algorithms to dynamically
modify the web experience, there are three things you must do to ensure that you’re capturing focused
attention, delivering value, and building trust:

 ›› Deliver relevance. The precision of your segmentation and targeting only helps so much in
    ensuring the relevance of personalized content. Determine the kind of value your customers want
    and find ways to provide utility, not just hawk the latest and greatest from your brand.12 “Good
    personalization means talking to the customer about what they want to talk about; you have to
    be relevant in the places that are important to them,” says Emily Rudin, chief customer officer
    at CrowdTwist. Focus on providing information or product experiences that customers might
    find enjoyable — think Spotify’s Year Wrapped campaigns and Discover Weekly playlists — or
    something that’s useful to them in any given moment.

 ›› Build emotional resonance. If relevance is all about delivering value, resonance is all about
    creating the memorable moments that cement customer loyalty. Across industries, making
    customers feel appreciated, happy, and valued has the strongest connection to loyalty.13 Clay
    Walton-House, managing director at ProKarma (PK), explains that “presenting information or
    providing an experience that taps into a deeper understanding [of] who a customer is goes beyond
    the immediate brand to a space you fill or are connected to in that person’s life.” To connect with
    customers on an emotional level, talk to them about who they are — not just about what they’ve
    purchased. Geoffrey Insurance in the UK sends thousands of personalized videos to customers
    who are up for renewal. Of those who watched, 74% felt that Geoffrey cared about them and
    renewed at a 2% higher rate than those who didn’t watch the company’s video.14

 ›› Show restraint. Marketers assume that if they have customer information, they should use it.15
    But marketer FOMO can do more harm than good: 57% of US online adults already feel like they
    get too many email offers and promotions, and 20% are uncomfortable sharing information with
    retailers to personalize their experiences.16 It’s tempting to overcommunicate, especially when,
    as Brad Macdonald, VP of loyalty consulting at Epsilon, explains, “Campaign metrics show that
    every time [a company] reaches out [to a customer], they get more dollars in spend per customer.
    . . . Marketers need to do a better job allowing customers to customize how and when they get
    communicated to.” Showing restraint may lead to surprising results: TOMS Shoes has found that
    shorter emails are more likely to lead to customer action.17

                     © 2020 Forrester Research, Inc. Unauthorized copying or distributing is a violation of copyright law.                     4
                     Citations@forrester.com or +1 866-367-7378
For B2C Marketing Professionals                                                                         January 28, 2020 | Updated: January 30, 2020
Use Personalization To Drive Loyalty And Customer Obsession

FIGURE 1 The Spectrum Of Personalization

          No personalization           Basic segmentation                  Advanced segmentation                         Individualization

      •   All customers              •   Few static segments                •   Many dynamic                         •   Infinite segments of
          receive the same           •   Descriptive                            segments                                 one
          treatment, content,                                               •   Reactive                             •   Predictive
          and experiences.           •   Uses primarily
                                         demographic data                   •   Uses transactional and               •   Uses psychographic,
                                                                                other behavioral data                    contextual, and
                                                                                                                         social data

            Mass                                                                                                    Moments-based
           marketing                                                                                                  marketing

Launch With Loyal Customers First

The easiest place to start improving personalization is with your best customers. You likely already
have the most information about them and permission to collect more if they’re enrolled in your CRM
or loyalty program. Jamba rolled out its fledgling personalization strategy to loyalty members first
because that’s where it has the most data — including identifiable transactions — and offered content
with which to play. Plus, there’s some margin for error because your best customers already like you:
44% of consumers that belong to a loyalty program agree that they joined the program because they’re
already loyal to the brand.18 To ensure that you continue to build the relationship rather than erode it:

 ›› Map the loyal customer journey. It’s natural to want to jump in with a specific use case or channel,
    but laying out the existing loyal customer journey grounds you in the customer’s state, rather than
    your short-term business objectives. And it helps you avoid defaulting to tactical applications by
    defining key moments and parts of the experience you can impact with personalization. As you
    examine the journey, look specifically for areas where you can show the customer that you’re using
    the information they’ve given you to deliver value for them. Ask questions like, “What will they want?”;
    “How do they feel?”; and “What are their expectations for how involved our brand should be?” Then
    identify where those areas overlap with your brand objectives, such as driving sales and revenue.19

 ›› Define an ideal profile. To enhance customer interactions and experiences based on context and
    preferences, you need data that’s going to tell you what those things are.20 For example, eBay saw
    a 38% uptick in lifetime value when it used both purchase intent and customer motivation data
    in campaigns. Sean Claessen, chief strategy officer at Bond Brand Loyalty, says, “If the job of

                        © 2020 Forrester Research, Inc. Unauthorized copying or distributing is a violation of copyright law.                     5
                        Citations@forrester.com or +1 866-367-7378
For B2C Marketing Professionals                                                                      January 28, 2020 | Updated: January 30, 2020
Use Personalization To Drive Loyalty And Customer Obsession

   personalization is to deliver the best possible demonstration of the brand, you must understand the
   needs of your customers.” Sketch out an ideal customer profile that spans zero-, first-, second-,
   and third-party data to uncover gaps between what you have and what you want to know to guide
   technical requirements for data and systems integrations (see Figure 2). A footwear retailer has 50-
   plus progressive profiling questions it uses to gain insight into lifestyle preferences that can’t be
   derived from what the customer purchased last.

 ›› Involve customers in your efforts. Your loyal customers have high expectations and want
    personalization, but they’re also likely to show more forgiveness and less price sensitivity than
    nonloyal customers.21 Don’t expect to be perfect right out of the gate, but be transparent about the
    information you have about them and ask for direct feedback on how you’re doing. Metro Bank in
    the UK asks customers directly if personalized insights are adding value — 85% of customers have
    given them 4 or 5 stars.22 And Regent Street’s mobile app has a gamified experience that lets users
    “swipe” up or down for brands and items they like, fine-tuning the profiles that are created as a
    result (see Figure 3). The company uses this information to serve customers personalized offers but
    only asks for an email address after showing users how it’ll use the information shared.

 ›› Test and learn and test some more. Just as consumers are always changing, so too must your
    personalization strategy. Richard Jones, CMO at Cheetah Digital, says it’s easy to grow stagnant
    because “companies develop familiarity with certain tactics or are focused on narrower goals
    than experience differentiation. . . . But to succeed, they must build a continuous cycle of design,
    build, test, learn, iterate, optimize, repeat.” Multivariate tests at massive scale will yield the best
    and most consistent results, but don’t let that complexity paralyze you.23 Dunkin’ Brands tests out
    some app features — like customizing hot beverages with customers’ preferred flavor shots — with
    employees first to refine concepts before launching them with customers.24

 ›› Add perception metrics to your measurement framework. Most of the marketers we interviewed
    gauge the impact of their personalization efforts by showing lift on lifetime value or traditional
    campaign metrics like conversion, response, and redemption rates.25 Tracking metrics like affinity,
    preference, or advocacy shifts the focus from immediate business results to relationship quality
    and how personalization impacts that over time.

                     © 2020 Forrester Research, Inc. Unauthorized copying or distributing is a violation of copyright law.                     6
                     Citations@forrester.com or +1 866-367-7378
For B2C Marketing Professionals                                                                      January 28, 2020 | Updated: January 30, 2020
Use Personalization To Drive Loyalty And Customer Obsession

FIGURE 2 An Ideal Customer Profile Helps Lay Out What You Want To Know About Your Customers

      Source: PK website

                     © 2020 Forrester Research, Inc. Unauthorized copying or distributing is a violation of copyright law.                     7
                     Citations@forrester.com or +1 866-367-7378
For B2C Marketing Professionals                                                                        January 28, 2020 | Updated: January 30, 2020
Use Personalization To Drive Loyalty And Customer Obsession

FIGURE 3 Regent Street Gamified Preference Collection While Building Trust

      Source: Regent Street mobile app

Recommendations

Match Personalization Tech To Customer Needs, Not Channel Needs
Technology is the yin to personalization strategy’s yang. B2C marketing decision makers need it to
create customer understanding, coordinate content, and orchestrate experiences that deliver value for
customers. Unfortunately, there isn’t one technology solution that can take care of all personalization
needs (despite what some vendors would like you to think). Stitching together a personalization
tech stack to match customer experience use cases — and not just channel delivery needs — is a
stumbling block for most. Before you start making lists of vendors, do three things:

 ›› Use the customer journey to define the right personalization opportunities. Focusing on loyal
    customer journeys as a guide for personalization requirements helps put into context the hundreds
    of interactions customers have across the lifecycle and ensures marketers don’t get trapped in
    a channel-focused approach.26 Pinpoint the critical moments — those that occur at a customer
    transition point or are associated with a particularly high or low emotional response — to prioritize
    what you should tackle first. For instance, IKEA counters potential negative aspects of the shopper
    journey — such as frustration when navigating its giant parking garages or winding store paths —
    with positive offerings, like free childcare and ice cream and cinnamon rolls right after checkout.27

                       © 2020 Forrester Research, Inc. Unauthorized copying or distributing is a violation of copyright law.                     8
                       Citations@forrester.com or +1 866-367-7378
For B2C Marketing Professionals                                                                      January 28, 2020 | Updated: January 30, 2020
Use Personalization To Drive Loyalty And Customer Obsession

 ›› Connect with colleagues across customer-facing functions to vet requirements.
    Personalization isn’t just a marketing imperative. Customers interact with service, commerce,
    and other human-powered touchpoints along their journey. Seek out the stakeholders in those
    departments that have their own priorities for tech investments to identify personalization
    requirements that span operational functions and technology platforms. A small number of
    companies are already empowering cross-functional teams to make faster decisions as a result of
    closer collaboration at the CMO and CIO level.28

 ›› Audit what you have. Most companies have already invested in technologies — like data
    warehousing, loyalty or identity management, and channel-specific experience delivery solutions —
    that form the building blocks for personalization execution. Avoid redundant investments by taking
    stock of how well existing technologies can deliver your requirements. Make the most of your remaining
    budget with AI-powered point solutions that can help you optimize the emotional resonance of your
    content, behavioral targeting, or audience and offers.29

   Engage With An Analyst
   Gain greater confidence in your decisions by working with Forrester thought leaders to apply
   our research to your specific business and technology initiatives.

   Analyst Inquiry                               Analyst Advisory                                         Webinar

   To help you put research                      Translate research into                                  Join our online sessions
   into practice, connect                        action by working with                                   on the latest research
   with an analyst to discuss                    an analyst on a specific                                 affecting your business.
   your questions in a                           engagement in the form                                   Each call includes analyst
   30-minute phone session                       of custom strategy                                       Q&A and slides and is
   — or opt for a response                       sessions, workshops,                                     available on-demand.
   via email.                                    or speeches.
                                                                                                          Learn more.
   Learn more.                                   Learn more.

             Forrester’s research apps for iOS and Android.
             Stay ahead of your competition no matter where you are.

                     © 2020 Forrester Research, Inc. Unauthorized copying or distributing is a violation of copyright law.                     9
                     Citations@forrester.com or +1 866-367-7378
For B2C Marketing Professionals                                                                      January 28, 2020 | Updated: January 30, 2020
Use Personalization To Drive Loyalty And Customer Obsession

Supplemental Material

Survey Methodology

The Forrester Analytics Consumer Technographics® North American Online Benchmark Survey (Part 2),
2019, was fielded from October 2018 to January 2019. This online survey included 47,991 respondents
in the US and 4,646 respondents in Canada between the ages of 18 and 88. For results based on
a randomly chosen sample of this size, there is 95% confidence that the results have a statistical
precision of plus or minus 0.5% of what they would be if the entire population of US online adults
(defined as those online weekly or more often) had been surveyed and plus or minus 1.4% of what they
would be if the entire population of Canadian online adults had been surveyed.

Forrester weighted the data by age, gender, income, region, and broadband adoption to
demographically represent the US and Canadian online adult populations. The survey sample size, when
weighted, was 47,905 in the US and 4,639 in Canada. (Note: Weighted sample sizes can be different
from the actual number of respondents to account for individuals generally underrepresented in online
panels.) The programming language herein reflects the survey respondent base for each question.
Bases for specific questions have been changed in published data for increased clarity. Therefore, the
base in published data may not match the base language in this document. Dynata fielded this survey
on behalf of Forrester. Survey respondent incentives included points redeemable for gift certificates.

Companies Interviewed For This Report

We would like to thank the individuals from the following companies who generously gave their time
during the research for this report.
Aimia                                                                    Jamba

Bond Brand Loyalty                                                       Jebbit

Bowtech                                                                  Kobie

Brierley+Partners                                                        Merkle/HelloWorld

Cheetah Digital                                                          PK

Epsilon                                                                  Rue Gilt Groupe

Formation                                                                SessionM

ICF Next                                                                 T3

                     © 2020 Forrester Research, Inc. Unauthorized copying or distributing is a violation of copyright law.                    10
                     Citations@forrester.com or +1 866-367-7378
For B2C Marketing Professionals                                                                             January 28, 2020 | Updated: January 30, 2020
Use Personalization To Drive Loyalty And Customer Obsession

Endnotes
1
     Source: Bill Duggan, “Personalization: The ANA 2019 Marketing Word of the Year,” ANA Blogs, December 4, 2019
     (https://www.ana.net/blogs/show/id/mm-blog-2019-word-of-the-year).

     Source: Forrester Analytics Global Business Technographics Priorities And Journey Survey, 2019, and Forrester
     Analytics Global Business Technographics Marketing Survey, 2019.
2
     The cocktail party effect refers to the ability to focus one’s attention on a particular stimulus while filtering out a range
     of other stimuli (i.e., noise). Source: “The Cocktail Party Effect,” American Academy of Audiology, January 3, 2017
     (https://www.audiology.org/news/cocktail-party-effect).

     Subsequent research shows that specific stimulus, such as hearing one’s name, is particularly effective in tuning
     selective attention. Source: Adelbert W. Bronkhorst, “The cocktail-party problem revisited: early processing and
     selection of multi-talker speech,” NCBI, April 1, 2015 (https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4469089/).
3
     Fifty-six percent of consumers have unsubscribed from a promotional email or newsletter in the past 12 months.
     Source: Forrester Analytics Consumer Technographics North American Online Benchmark Survey (Part 2), 2019.
4
     See the Forrester report “Personalized Video Creates Better Customer Service Experiences.”

     Net Promoter and NPS are registered service marks, and Net Promoter Score is a service mark, of Bain & Company,
     Inc., Satmetrix Systems, Inc., and Fred Reichheld.

	Ninety-three percent of US online adults use tools that protect their online privacy and security. Source: Forrester
5

 Analytics Consumer Technographics North American Online Benchmark Survey (Part 2), 2019, and Forrester Analytics
 Consumer Technographics Global Online Benchmark Survey (Part 2), 2019.
6
     See the Forrester report “Understand Your Customers To Build Trust: Forrester’s 2019 Consumer Privacy
     Segmentation.”
7
     Source: “Express Drives Seven Figures in Sales to Loyalty Audience,” Jebbit blog (https://www.jebbit.com/blog/
     express-drives-seven-figures-in-sales-to-loyalty-audience).
8
     Source: Forrester’s Q2 2017 Global Customer Loyalty Solutions Forrester Wave™ Customer Reference Online
     Survey; Forrester’s Q2 2018 Global State Of Customer Loyalty Online Survey; Forrester’s Q1 2019 Loyalty Technology
     Platforms Forrester Wave™ Customer Reference Online Survey; and Forrester’s Q2 2019 Loyalty Service Providers
     Forrester Wave™ Customer Reference Survey.
9
     The top three metrics retailers use to measure personalization are conversion rate, click-through rate, and
     average order value. See the Forrester report “The State Of Retailing Online 2019: Omnichannel, Marketing, And
     Personalization.”
10
     See the Forrester report “The Customer Obsession Assessment.”
11
     See the Forrester report “Chart Your Course To Customer Obsession.”
12
     See the Forrester report “Value For Customers: The Four Dimensions That Matter.”
13
     See the Forrester report “The US Customer Experience Index, 2019.”
14
     See the Forrester report “Case Study: Geoffrey Insurance Boosts Customer Engagement With Personalized Interactive
     Video.”
15
     See the Forrester report “Marketers Versus Customers: Opposing Forces Erupt.”
16
     FOMO is the acronym for “fear of missing out.”

     Source: Forrester Analytics Consumer Technographics North American Online Benchmark Survey (Part 2), 2019, and
     Forrester Analytics Consumer Technographics Global Online Benchmark Survey (Part 2), 2019.

                            © 2020 Forrester Research, Inc. Unauthorized copying or distributing is a violation of copyright law.                    11
                            Citations@forrester.com or +1 866-367-7378
For B2C Marketing Professionals                                                                            January 28, 2020 | Updated: January 30, 2020
Use Personalization To Drive Loyalty And Customer Obsession

     When asked what types of information (ranging from contact info to loyalty program information) they would feel
     comfortable with retailers using to personalize their experience, 20% responded, “None of these.” Source: Forrester
     Analytics Consumer Technographics North American Retail And Travel Topic Insights 3 Survey, 2018.
17
     Source: CrowdTwist’s Loyalty Innovation Summit, October 3, 2019.
18
     Source: Forrester Analytics Consumer Technographics North American Online Benchmark Survey (Part 2), 2019.
19
     See the Forrester report: “Pivot To Person-First Personalization.”
20
     See the Forrester report “The Anatomy Of A Preference Center.”
21
     See the Forrester report “How Firms Help Employees Evoke Emotions That Deepen Customer Loyalty.”
22
     See the Forrester report “Financial Services Firms Need To Rethink Personalization.”
23
     See the Forrester report “Come Together (Right Now) To Deliver The Next Best Experience.”
24
     Source: “1:You personalization with Dunkin’ and AutoZone,” Epsilon blog (https://us.epsilon.com/blog/1you-
     personalization-with-dunkin-and-autozone).
25
     See the Forrester report “Make Customer Lifetime Value Your Polaris For Long-Term Growth.”
26
     See the Forrester report “The Customer-Journey-Centric Firm.”
27
     See the Forrester report “Bring Brand To Life With Customer Journeys.”
28
     A strong partnership between marketing and technology teams is key to achieving customer success, but today, only
     24% of B2C decision makers say their marketing team contributes resources to a cross-functional team with IT to
     support marketing technology initiatives. See the Forrester report “CMO-CIO Collaboration: Resolving The Paradox.”
29
     For more information on AI-powered personalization technology, see the Forrester report “The Forrester Tech Tide™:
     AI, Automation, And Robotics For Customers And Employees, Q2 2019.”

                           © 2020 Forrester Research, Inc. Unauthorized copying or distributing is a violation of copyright law.                    12
                           Citations@forrester.com or +1 866-367-7378
forrester.com

 We work with business and technology leaders to drive customer-
 obsessed vision, strategy, and execution that accelerate growth.
 Products and Services
 ››   Research and tools
 ››   Analyst engagement
 ››   Data and analytics
 ››   Peer collaboration
 ››   Consulting
 ››   Events
 ››   Certification programs

 Forrester’s research and insights are tailored to your
 role and critical business initiatives.
 Roles We Serve
   Marketing & Strategy           Technology Management             Technology Industry
   Professionals                  Professionals                     Professionals
›› CMO                            CIO                               Analyst Relations
   B2B Marketing                  Application Development
   B2C Marketing                  & Delivery
   Customer Experience            Enterprise Architecture
   Customer Insights              Infrastructure & Operations
   eBusiness & Channel            Security & Risk
   Strategy                       Sourcing & Vendor
                                  Management

 Client support
 For information on hard-copy or electronic reprints, please contact Client Support at
 +1 866-367-7378, +1 617-613-5730, or clientsupport@forrester.com. We offer quantity
 discounts and special pricing for academic and nonprofit institutions.

                                                                                                     157237
You can also read