Personalized marketing starts with declared data. Get the recap of Adweek's latest webinar, all about personalization, here.
Adweek’s latest webinar dove into the topic of personalization, and how to power it with declared data. Our own Jonathan Lacoste and Regent Seven Seas Cruises’ Elizabeth Fettes shared why personalization matters now more than ever, and how to drive real marketing results using declared data.
Missed the webinar? No problem! We’ve got a recap with the top five takeaways right here.
1. Bad data prevents true personalization
Sixty-four percent of marketers say bad data undermines their ability to provide a truly personalized, excellent customer experience.
But what makes data bad?
There are three types of “bad data” that can hurt your marketing performance without you even realizing it.
Inaccurate data is just plain wrong. Jonathan spoke to his recent experience of being retargeted for a full set of golf clubs, just because he bought his friend some golf gear for the holidays. That single purchase put Jonathan in a segment of “past purchase – golf,” even though he doesn’t golf himself. If that brand knew the real reason behind his purchase, they could market to him only around the holidays, instead of all year long. It’s a complete waste of money to show him those ads now, right after he made a purchase he’s not going to make anytime soon.
Outdated data is just that: Stale. Our personal styles evolve, we buy different kinds of cars, we decide we actually don’t like reading fantasy novels, or we get really into hiking. Most third-party data is behind the times. You may have a customer’s vehicle down as a 2009 Toyota Corolla, when in reality they just bought a used 2016 Ford Focus. Because you have that outdated data, you may be sending emails about Toyota Corolla parts, rather than sending the most relevant, up-to-date offers.
Irrelevant data is data that doesn’t really help you do your job. Do you really need to know that one of a consumer’s past purchases was bottled water? Or that mustard is a past purchase? At the end of the day, that type of information isn’t going to make your marketing any more relevant to consumers.
2. Declared data is a type of first-party data
Nearly all marketers will tell you first-party data is the most valuable type of data. And that makes sense! It’s the data that you and you alone own.
What most marketers don’t yet know is that declared data is a subset of first-party data.
The key difference?
Declared data is actively given to you by consumers. It’s psychographic information, including their intentions, motivations, interests, preferences, and aspirations. When given the chance, consumers will tell you what they like about your brand, what pushes them to make a purchase, when they plan to buy something, and more.
3. Personalization provides added value
When Elizabeth thinks about executing personalization in her marketing, she wants to provide a seamless, valuable experience to each and every customer engaging with the Regent brand. Just as Regent Seven Seas Cruises provides a unique sailing experience for its travelers, she provides a highly tailored marketing experience specific to each customer’s needs, preferences, and interests.
Regent customers, on average, visit the website five times before selecting a voyage. They’re discerning travelers who want to see the information that’s most relevant to them. By capturing and using declared data, Elizabeth and her team can ensure that each visitor finds what they came for, whether that’s information about amenities or the perfect destination.
4. Surveys don’t cut it anymore
Elizabeth used to use surveys to try to learn more about her travelers.
They’re static, impersonal, cumbersome, and not engaging. For Elizabeth, that’s pretty much the opposite of the Regent brand and customer experience.
She knew she wanted data directly from her customers, so actively sought a solution that would let her get it while staying on brand and increasing her response rate. Because research plays such a large role in each customer’s decision making, knowing what they care about makes her team’s marketing hyper-relevant.
5. Personalization gets results
When Elizabeth used declared data to power email personalization, she saw some pretty impressive numbers:
- 2X increase in email open rate
- 9X increase in email click rate
Her travelers responded positively to getting an email that provided more details about the destination that her Jebbit experience had matched them with. Using declared data to personalize each customer’s experience moves them down the marketing funnel faster.
If you’re curious to hear more from Jonathan and Elizabeth, check out the on-demand version of the webinar. You can access it here!
Published February 1, 2018