The Single Biggest Challenge Facing Modern Marketers (And How to Deal With It)

The Single Biggest Challenge Facing Modern Marketers (And How to Deal With It)

Marketing used to be simple…

Create a promise. Find a platform. Deliver a message.

As long as these three elements worked in unison, people would
buy what you were selling.

Then came the internet – the biggest marketing platform ever
created.

In the beginning, that’s exactly what it was. A platform that
you could use to deliver a message.

But then things started to get complicated.

As we began crawling out from our safe rock of naivety, the
implications of exactly what this platform meant for society
started to rear their head.

Our personal thoughts, feelings, and information were now in the
hands of those wanting to sell us things.

The clash of the titans – personalization vs privacy

As with any progression in technology or societal innovation, it
starts as a free-for-all with little governance. Before long,
society develops a strong desire to protect their rights and
regulation becomes inevitable.

That’s what is happening now with marketing.

Given the enormous amounts of personal data and information
stored in the ether of the internet and beyond, a question of how
this affects our rights and privacy as individuals has become
prominent.

It’s the perfect storm of data, technology, and human
instinct…

Marketers want to personalize
the consumer experience for people because they know it results in
better business outcomes.
Utilizing advances in artificial
intelligence (AI), cross-platform synchronization, and machine
learning, marketers are creating a consumer experience that is more
personalized than a recommendation from your best friend. But
consumers, for the most part, want to protect (or at least control
the use of) their personal data.

It poses the question – Where do we draw the line between
personalization and privacy?

What the research is telling us

Salesforce recently published their 5th installment of
the State of Marketing report
, a research study that surveyed
over 4,000 marketing leaders around the world.

The primary goal of this study was to determine how
cross-functional dynamics, data, personalization, and consumer
engagement, are changing the way businesses and customers
interact.

Here are some of the key findings from the study:

  • 59% of high performers use customer data to create more
    relevant experiences.
  • The adoption of AI by marketers has grown by 44% since
    2017.
  • However, 35% of marketers feel challenged to balance
    personalization with privacy, and;
  • Only 30% of marketers agree their organization is completely
    satisfied with their ability to balance personalization with
    privacy.  
  • Yet, 44% of respondents believe their brand goes above and
    beyond to protect and respect customer privacy.

In short:
more marketers are using technology to personalize the customer
experience
, but they are also actively looking to protect the
privacy of their customers.

The tug-of-war is real…

How do we strike a balance between personalization and privacy?

The battle between personalization and privacy is only just
beginning.

As marketers, we are scratching the surface of what is possible.
For consumers, we don’t really even know what we want to control
at this point – but it’s something.

The thing is, despite an uproar about privacy, 79% of customers
are willing to share data in exchange for contextualized engagement
and 88% will do so for personalized offers.

Airbnb is one example of a brand who effectively balances
personalization and privacy. Their Trip Matcher quiz
enables users to personalize their browsing experience by answering
a series of targeted questions. This puts the power of marketing
personalization in the hands of the user, not the company.

Marketing Personalization - Arbnb

Another brand who puts personalization in the hands of the user
as a way of balancing the privacy equation is Warby Parker. They have a
promotion which allows customers to try their glasses frames at
home for free. But in order to choose the right glasses to try,
customers complete an interactive quiz which personalizes the
recommendations for them:

Marketing Personalization - Warby Parker

These are just two examples of brands who are striving to
balance the desire for privacy with the expectations of
personalization.

Wrap

In the end, buyers still crave connection with businesses –
they want to feel appreciated. In order to create a sense of
connection for customers at scale, we need to combine technology
with human instinct to personalize interactions across all
channels.

Yes, we need to use personal data to deliver on this reality,
but if we do it in a way that gives customers choice and control it
will build more trust than any form of marketing in history.

Discover what the highest-performing marketers are doing to
tackle this challenge

in the State of Marketing report.

The post The Single
Biggest Challenge Facing Modern Marketers (And How to Deal With
It)
appeared first on Jeffbullas’s Blog.

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The Single Biggest Challenge Facing Modern Marketers (And How to Deal With It)