Increased Conversions Top Metric
Data from Econsultancy’s “Quarterly Intelligence Briefing” indicates that most marketers use increased conversions to measure the impact of personalization on ROI (70%) and engagement (61%). Other popular ways of measuring personalization’s impact on engagement include increased time spent on site (50%), positive feedback (e.g. social media mentions – 38%), and a lower bounce rate (36%).
A similar proportion measure the impact of personalization on ROI via a lower bounce rate (34%) and an uptick in visitors (33%). Interestingly, only one-third measure the impact of personalization on ROI through an absolute ROI figure.
Roughly 1 in 10 don’t measure the impact of personalization.
Agencies More Adept at Using Anonymous Data
Privacy concerns are a key factor in consumers’ willingness to share personal information with companies, as seen in recent research concerning privacy attitudes in the UK and in the US. Of note, according to the Econsultancy survey, more agencies than companies are able to personalize an experience without explicit data. 48% of agency respondents said they can personalize an online experience based on anonymous data, compared to 42% of company respondents. By contrast, companies are more reliant on identifying an individual in order to personalize (49% vs. 37%).
The remaining 8% of client-side respondents and 15% of agency respondents either don’t know or did not find the question to be relevant.
- Client-side marketers are more likely to disagree (36%) than agree (33%) that they use data effectively to maximize conversions. Agency respondents are only slightly more optimistic about their clients’ use of data, with 31% agreeing that they use it effectively to maximize conversions, versus 26% who disagree.
- Client-side marketers also are more likely to disagree than agree that they run tests to see how different types of personalized content perform (48% vs. 27%). Agencies are largely in agreement (41% vs. 29%).
- Respondents are split on whether or not their CMS is an enabler for personalization. 32% agree, compared to 34% who disagree, and 34% who are neutral.
About the Data: The Econsultancy data is based on an online survey of more than 400 client-side and agency respondents, the majority of whom are based in North America and the UK.