50+ Personalization Statistics And Trends You Need To Understand [2024]

June 4, 2024 0 Comments

Did you know 9 in 10 companies are allocating budget to marketing personalization?

Wondering why?

90% of marketers believe personalization makes businesses more profitable.

68% of companies reported that personalization efforts have improved revenue and exceeded targets.

Do you expect your favorite brands to know your style?

71% of consumers expect personalization, and 76% feel frustrated if brands don’t fulfill this expectation.

50% of consumers believe it is risky for brands to have their personal data

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Top Personalization Statistics: Editor’s Pick

50% of companies reported that getting accurate data for personalization is very challenging
  1. 89% of businesses are currently investing in personalization. [1]
  2. Nearly 97% of companies believe in personalizing experiences. [3]
  3. 70% of businesses are increasing their personalization spending in 2024. [4]
  4. Approximately 60% of businesses see increased retention and conversions with better personalization strategies. [6]
  5. 56% of consumers said they will return to businesses after a positive personalized experience. [5]
  6. 47% of B2C consumers expect fully or mostly personalized content. 
  7. 75% of consumers expect personalization to make navigation easy in-store and online. [8]
  8. 40% of consumers wish brands knew more about their style preferences. [9]
  9. 78% of marketers use personalization in email marketing. [14]
  10. 56% of companies use website personalization. [14] 
  11. Only 27% of brands use personalization in call centers. [14] 

General Personalization Statistics

Personalization is the new norm, right?!

89% of businesses are investing in personalization now. [1]

9 in 10 companies are allocating budget to marketing personalization. [1]

90% of marketers said personalization makes businesses more profitable. [2]

Does your company personalize experiences?

Nearly 97% of companies believe in personalizing experiences. [3]

1% of companies never personalize experiences. [3]

While 2% rarely personalize experiences. [3]

14% of companies sometimes personalize consumer experiences. [3]

How often does your company focus on personalizing experiences?
Source: Statista

Personalization Business & Marketing Statistics

68% of companies reported that their personalization efforts have improved their revenue and exceeded targets. [4]

About 70% of businesses are increasing their personalization spending in 2024. [4]

According to 55% of marketers, #1 benefit of personalization is that it improves visitor engagement and customer experience. [5]

With better personalization strategies, about 60% of businesses see an increase in retention and conversions. [6]

Personalization & Consumer Expectation

Do you as a consumer expect personalization from businesses?

It is to be noted that 71% of consumers expect personalization and 76% feel frustrated if brands don’t fullfil this expectation. [8]

56% of consumers said they will return to businesses if they have a positive personalized experience. [5]

47% of B2C consumers expect fully/mostly personalized content

75% of consumers reported that they expect personalization to make it easy for them to navigate in-store and online. [8]

40% of consumers wish brands knew more about their style preferences. [9]

Personalization Used By Brands

According to Statista reports, 78% of marketers confirmed using personalization in e-mail marketing. [14]

56% of companies agreed to using website personalization.

Call center is a traditional personalization format, and is reducing nowadays with only 27% of brands using it.

32% of companies use social media in personalization.

43% of brands still trust word of mouth, as they depend on in-person personalization.

33% of companies use online advertising for personalization.

Usage of personalization in digital marketing channels US
Source: Statista

Challenges in Personalization

Personalizations seems easy, but it’s not that simple.

Brands face many challenges in personalization. 

  • Data breaches. About 50% of consumers believe it is risky that brands have their personal data. [6]
  • Trust issues. 43% of consumers do not trust brands to manage their data safely and securely. [6]
  • Discomfort41% of consumers reported that they find it creepy if they receive a text from a brand as they walk by a store. [10]
  • Accuracy. 50% of companies reported that getting accurate data for personalization is very challenging. [10] 

Future Trends of Personalization

As consumers are now more concerned about their data, 80% of marketers may reduce personalization efforts by 2025. [11]

While two-thirds of North American and European ecommerce companies plan on investing more in personalization. [12]

1% of companies reported they are going to reduce their personalization budget. [12]

51% of high-growth companies are planning to shift their personalization strategy more towards first-party data. [13]

Personalization is estimated to boost email marketing success by 96% of businesses. [14]

FAQs 

What is personalization?

Personalization involves tailoring products, services, or experiences to individual preferences and characteristics, enhancing customer satisfaction and engagement.

Why is personalization important for businesses?

Personalization helps businesses improve customer experiences, boost engagement, increase retention rates, and drive revenue growth by delivering relevant and targeted content or offerings.

How do consumers respond to personalization?

The majority of consumers expect personalization from brands and are more likely to return to businesses that provide positive personalized experiences. However, trust and privacy concerns remain significant factors in consumer attitudes towards personalization.

What are the challenges in implementing personalization?

Challenges include data breaches, trust issues, discomfort with certain personalized interactions, and the difficulty of obtaining accurate data for personalization purposes.

What are the future trends in personalization?

While some businesses may reduce personalization efforts due to privacy concerns, others plan to invest more in personalization strategies, particularly focusing on first-party data and email marketing.

Conclusion 

Personalization has become a cornerstone of modern business strategies, with the majority of companies recognizing its importance and investing in its implementation. 

With careful attention to consumer preferences and ethical data practices, businesses can leverage personalization to foster stronger connections with their audience and drive sustainable growth in the digital age.

Sources

  1. ProfitBlitz. Personalization Statistics And Trends
  2. Think with Google. Personalization significantly contributes to business profitability
  3. Statista. Frequency of personalizing experiences
  4. Adobe. Our Personalisation at Scale study shows why personal connections matter
  5. Evergage. Cross-Channel Personalization
  6. Segment. The State of Personalization Report
  7. Blogging Wizard. Latest Personalization Statistics And Trends For 2024
  8. Mckinsey. The value of getting personalization right—or wrong—is multiplying
  9. Statista. Personal features consumers wish brands knew more about
  10. Startup Bonsai. 55+ Top Personalization Statistics For 2024 (+ Facts And Trends)
  11. Gartner. 80% of Marketers Will Abandon Personalization Efforts by 2025
  12. Statista. Share of e-commerce companies planning on investing more in personalization
  13. Deloitte. 2022 Global Marketing Trends
  14. Social Media Today. 13 Surprising Email Personalization Statistics [Infographic]
  15. Statista. Digital channels in which personalized communication