New CMO50 special whitepaper now available: Practising personalisation in an era of passion points, preferences and purpose
CMO is delighted to release our new CMO50 alumni whitepaper exploring how leading Australian marketers are practising personalisation in a new era of passion points, preferences and purpose.
As our customers exhibit a growing desire to be recognised for their values and interests, the personalisation capabilities brands have been building need to adapt and flex to suit. Recent research conducted by Forrester demonstrates experience leaders who practice personalisation at scale consistently deliver increased value to customers and benefit to their businesses by providing a personalised experience across every channel, touchpoint and interaction.
To get there, these leaders are investing in data, technology, customer journey orchestration and content. Yet there’s also a need to complement operational capability with a firm grasp of customer tastes, preferences and values. Because they are imperative to connection.
As Adobe’s 2022 Make It Personal report demonstrates, consumers are increasingly expecting organisations to not only personalise engagement in a way that reflect these facets of their character, but admit these preferences change frequently. In fact, more than seven in 10 consumers in Australia change preferences and tastes every three months.
Throw in the macro-economic downturn we’re seeing as well as growing concerns of customer data security and use, and you have a complex array of conditions brands need to navigate their personalisation strategies through. This makes it imperative brands develop a personalisation muscle that’s responsive, and which gives them an ability to unlock customer data and content in real-time and across channels to consistently deliver in the moments that matter.
In our latest CMO50 whitepaper, we’ve spoken to five of our stellar CMO50 2022 alumni members about how they’re endeavouring to build out personalisation capabilities, at scale, and realise rapid responsiveness in programs and touchpoints to cope.
As part of these conversations, we’ve asked about how brands are catering to growing consumer desire for personalisation based on regular gestures rather than one-off offers, as well as passion points and preferences, over the traditional stalwart of demographics.
But as our CMOs made clear, it’s not a matter of just replacing one set of data for another. In many cases, traditional data buckets used to segment marketing communications or personalise Web pages are complemented by ever-diverse sources of zero-party, first-party and third-party data. Integration is critical, as is an ability to test, optimise and learn from personalisation efforts on a continual basis. It’s worth noting personalisation is not an end game either; all CMOs detailed an evolving approach to how they’re tackling this at scale.
What’s also apparent is partnerships and cross-functional collaboration are a major marker of success. As you’ll see, our CMOs reveal a superior understanding of the importance of internal and external dynamics and influence, particularly when it comes to how personalisation is realised through creative.
In the third and final episode of our 3-part CMO50 video series exploring modern marketing and why it’s become a matter of trust, we’re delighted to be joined by Telstra’s former CMO and now digital services and sales executive, Jeremy Nicholas, and Adobe VP Marketing Asia-Pacific and Japan, Duncan Egan.
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