“In an era of information overload, consumers appreciate brands that give them signal rather than noise,” said Andrew Lipsman, eMarketer principal analyst. “But few brands have enough first-party data to consistently deliver the personalized experience that most consumers crave. Many will need to up their game or risk turning away their customers over time.”
And marketers are working to get there. A third of companies worldwide surveyed in May 2019 by Forbes Insights said they place a “high priority” on delivering personalized customer experiences, and 57% said they place “somewhat of a priority.”
They’re also investing in the technology, too.
More than half of companies worldwide said they plan to increase their spending on personalization, according to May 2019 data from SoDA, in partnership with Sitecore. Roughly a third (32%) said they plan to significantly increase their budget.