Personalised marketing has been around for years, but now it’s more personal – and needed –
Over 42% of UK marketers identified “personalisation” as one of their top priorities last year, according to The Chartered Institute of Marketing. Because the penny’s finally dropped among B2B marketers that it’s not a “business” who receives their communications. It’s a person.
B2B has become P2P, as marketers capitalise on the fact that only by understanding the person – or “Persona” – that you’re targeting can your marketing hit the mark, and not the bin.
If personal marketing isn’t already top of your 2018 to-do list, here’s how to fast-track it with CMDi’s Persona Builder methodology.
First, you need to build a case based on facts to ensure your Board both understands and supports this P2P approach. For instance, evidence is now widely available to support the need to dump a B2B one-size-fits-all approach. The Boston Consulting Group found that brands which create personalised experiences are seeing a revenue increase of up to 10% – and up to three times more quickly than those who don’t. Help is always available here from sector experts, such as CMDi.
Second, create an internal P2P team who can help share your P2P transformation objectives across your marketing, communications and customer services. Make sure this team includes a professional external partner, such as CMDi, who can guide you through this process from start to finish.
Next, review your customer data. You need to have a clear picture of who your customers are, what knowledge gaps exist, and how well your current CRM can handle a transition to deeper segmentation. This may also be the time to review your overall approach to CRM.
Once you have gathered the facts about your customers and how they are currently segmented, you need to develop a Persona building research programme. This is the most effective foundation to ensure you segment your most valuable customers based on real facts and deep insights.
After your customer Personas have been built, you then need to develop a Persona-based approach to your communications by linking your newly created customer Personas to touchpoints, channels and a clearly developed path to purchase/specification maps. This is all about removing buy-barriers and increasing attraction. Remember, this needs to be as much about messaging as media: you must ensure that new communications are developed that press the most effective buttons which were uncovered in your insight-building research phase.
Finally, ensure that customer feedback loops are built into the roll-out so you can obtain new insights and allow your Personas to develop and grow organically This form of real-time marketing ensures you match new needs as they arise and has exponential value activating your business at the right time, in the right place, at the right moment, with the right offer.
As markets become even more overcrowded, and most communication messages become just noise, only those building and construction brands which recognise the value of treating consumers as individual people will be the ones to achieve a real advantage – and only if they get the approach right and are fully committed to it.
Watch Netflix’s example
Netflix has built its success on a personalised algorithm that suggests relevant content to viewers. By tracking its users’ viewing history, the business builds a detailed picture of customer tastes and preferences.
The company recently took this approach to the next level by creating personalised ‘preview’ adverts. These select and show a trailer for a series or film based on a user’s viewing habits, ensuring the content promoted is relevant to each user.
These subtle elements of personalisation make users feel that Netflix knows them in a genuine way. Strong recommendations increase the amount of time viewers spend watching content on Netflix and minimise subscriber churn.
According to a paper published by Netflix executives, the company claims its AI-assisted recommendation system saves the company $1 billion per year. As one of the most successful digital content platforms in the world, Netflix exemplifies how getting relevance right is key to successful business strategy.
Creating valuable and authentic connections with customers has never been more important, and should be at the top of any built environment marketer’s strategy for 2018. CMDi can help your business get there faster, and with more certainty of achieving the right outcome.
CMDi’s Persona Builder programme is already being used by leading organisations in the sector – contact us to find out more on 01483 546 900 or email firstname.lastname@example.org