Brands and retailers are expected to increase their focus on consumer personalization in 2023. This will involve leveraging data and working with solution providers to turn data into insight and action to deliver personalized promotions and marketing messages based on customers' purchase habits and interests. The emphasis on personalization is driven by the need to remain relevant and competitive, as well as to meet the demands of consumers who expect relevant and tailored marketing messages.
This trend originates from the report:
VERICAST - Predictions & Trends 2034
In 2023, we expect brands to work toward this ideal with renewed focus and energy. What form will it take? It will mean working with a lot of data (with a keen focus on 1st-party data) and leveraging it to understand, message, target and reach the right customers in the right channels. A number of emerging tech and solution providers will play an outsized role in turning data into insight and action (see next prediction).
Expect personalization to be a big focus for a lot of marketers in the coming year. The aforementioned Forrester Consulting study revealed that marketers have high hopes for leveraging data to better understand and target their customers in the service of delivering the most relevant and personalized messages possible. 46% of respondents feel that retailers need to provide more personalized promotions.
In telecom, We believe that consumers in this vertical are getting savvier and will increasingly take advantage of the many choices they have in the telecom industry. The result? “Marketers will need to reach consumers more consistently as the space gets more and more competitive,” says Jill Morgan: Telecom. Consumers pay attention and respond to relevant messaging, so marketers need to personalize messages in order to make an impact with shoppers.
” In retail, personalization is key in every step of the consumer journey, says Sara Thomsen: Retail. “Consumers want relevant marketing messages and product recommendations tailored to their needs. Of course, this allows retailers to examine their multiple media touchpoints and understand how consumers engage and respond.
” Retailers need to work with marketing partners that understand their consumers as much as they do, Thomsen says, and be able to “read their customer data to create relevant, timely communications for customers within a scalable and efficient media model.”.