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Personalization: The Next Competitive Advantage

In Q1 of 2014, Janrain commissioned Forrester Consulting to conduct an in-depth survey that evaluated marketers’ current practices, attitudes and plans regarding cross-channel customer identification and marketing personalization. The results are in, and indicate that while a majority of companies have yet to prioritize truly data-driven personalization across their marketing programs, a world of opportunity and competitive advantage exists for brands that can make sense of the wealth of customer data that’s so frequently trapped in organizational silos.

Forrester’s findings show that marketers are still prioritizing customer acquisition over retention efforts, although increasing the lifetime value of an existing customer has long been shown to be a more cost-effective endeavor. Personalization, while an objective, also ranks below goals like acquisition and engagement—and the majority of companies who have some strategy in place for personalizing the customer experience are still relying on broad segmentation and simple clustering techniques.

The capabilities with the most significant impact on delivering orchestrated customer experiences, according to the study, are the ability to both identify customers and preserve their interactions across touchpoints, channels and devices. Data management, however, is cited as a major reason for the lack of sophisticated personalization we might expect when so many marketing technology solutions exist—marketers know the customer data is out there, but have yet to find a way to centralize it and make it actionable across the organization.

The full study, Unlock The Promise Of Customer Data, includes additional findings, as well as Forrester Consulting’s recommendations for building a successful personalization strategy. We encourage you to read the research and determine how you can begin building a marketing strategy that prioritizes a relevant, personalized customer experience over the one-size-fits-all approach that so many marketers still struggle to move beyond. Download the full report below.

View our infographic highlighting key research findings.

Personalization: The Next Competitive Advantage