6APRIL 2021Debra MorganEditorialDebra MorganManaging Editoreditor@marketingtechoutlook.comIn the world of hyper-personalized experiences driven by tech giants like Amazon, Starbucks and Spotify, the personalization bar has been set high. Recent data from Salesforce showed that 72 percent of consumers and 89 percent of business buyers expect brands to understand their unique needs and expectations, and 66 percent of consumers are likely to switch brands if they feel as if they are being treated like a number.Silos are a problem when it comes to personalization. But, in order to execute on an omnichannel strategy you have to embrace the challenges silos bring, according to Maria Efstathiou, personalization program strategist at Nvidia, a maker of processing units and chips for the gaming and professional markets. And while new technology is making it possible to personalize messaging on an increasingly granular level, marketers face mounting challenges when it comes to both tightening regulations and the difficulty of managing all of that customer data.In order to successfully capitalize on this strategy in 2021 and beyond, marketers must walk a fine line between personalization and privacy and always put the customer at the heart of their efforts.At its best, personalized messaging can cut through the noise by making an individual feel seen, heard and understood. From product recommendations to personalized offers, these interactions can provide real value by solving a problem, filling a need or providing enjoyment. These days, personalized communications aren't just appreciated, they're expected. A recent Accenture Interactive study found that 91 percent of consumers are more likely to shop with brands that remember them and provide relevant offers and recommendations.As marketers begin launching more personalized campaigns, there are a lot of factors to consider. First and foremost, companies must decide how to get started, and implement the right data collection methods if that hasn't yet happened. Then you must balance personalization against being too knowledgeable about your customers, as well as balance between too personable or too automated. While it is difficult to balance all of the components, the brands who are able to do so will be the most effective.Let us know your thoughts.Personalization is the Way to GoCopyright © 2021 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Emaileditor@martechoutlook.comsales@martechoutlook.commarketing@martechoutlook.com APRIL - 19 - 2021, volume 07 - 05 (ISSN 2644-254X) Published by ValleyMedia, Inc. To subscribe to MarTech OutlookVisit www.martechoutlook.comManaging EditorDebra MorganEditorial StaffSalesAaron Pierce Alvina Rego Abhilash P. JoseRose DcruzJoshua ParkerPaul BarberVisualizerVincent Georgevincent@martechoutlook.com*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffAsher Blake
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