As a market research analyst at G2, we’re often tapped by our vendors to contribute to and participate in various projects and conferences. It’s an incredible opportunity to engage with other industry experts and peers to identify where we can best allocate resources and learn about the changes on the horizons of our specialties.
In March and April of this year, I co-hosted two webinars and attended AdWeek’s annual media conference, Mediaweek. What stood out to me across these vastly different projects (one webinar on the impact of personalization and the other on integrating account-based marketing (ABM)) was the constant focus on personalized user experiences, their data, and how that experience is evolving.
Understanding how personalization affects users
On G2, we have two categories that highlight the personalization arena: Personalization Software and Personalization Engines. While similar in functionality, their use cases are quite specific.
Personalization software is used to create a more personal website experience based on user preferences while personalization engines analyze customer data from other software that’s already been implemented or customer behavior insights to tailor marketing materials or product recommendations. Each serves a unique purpose in marketing efforts and can work together or separately to provide a seamless experience.
How is personalization affecting marketing?
In late March, Adweek held its annual Mediaweek, where marketing and advertising professionals come together to talk shop as well as discuss trends in the industry. This year, a great workshop was held by some of the team at Engine Media Solutions around how a cookie-based approach is no longer an option and how marketers can scale during this change. This leads to the all-important question: is there a software offering that can do this?
Enter personalization software, to refresh, personalization software leverages cookies, collaborative filtering, data analysis tools, and user profiling to tailor each website visitor experience. But with data privacy becoming a bigger component of many marketing strategies, the cookie-based element of personalization is called into question. Does this mean that personalization software and engines will have to adapt? The answer is yes because if they don’t, more customers will “opt out” of various campaign strategies and that data will be lost.
The team at Engine touched on three main points to better help us practitioners and analysts weed through potential future hurdles. With the main goal being scale (at any desirable level), it’s important to understand how businesses are modernizing their identification strategies as well as quantifying impressions.
What exactly is being targeted? Attitudes? Behaviors? These are the questions that need to be asked in order for marketers to not only keep up with changing consumer behavior but also combat a new industry landscape.
| TIP: It’s easy to get caught up in the advice and suggestions of industry practitioners but remember that each business and its journey to success is different. |
Privacy vs. personalization
As marketers move toward a new era of compliance, it has proven to be a delicate dance between getting the data needed from customers while also respecting their online privacy privileges.
Users want to remain anonymous, and with ABM, marketers can personalize experiences without having to increase the risk of private information collection. ABM has made it possible to have a personal experience without having to sacrifice privacy. Using ABM tools in tandem with personalization creates the perfect martech stack for today’s marketer.
In a recent webinar, TrenDemon’s CEO, Avishai Sharon, discussed how with these tools (ABM and personalization), marketers are better able to identify and act on funnel metrics to better understand the journey to conversion.
| Read now: How to Balance Consumer Privacy and Personalization in Marketing → |
Trends in G2 data
According to G2 data, the Personalization Software, Personalization Engines, and parent category Account-Based Marketing Software are showing consistent traffic over the last six months. This proves that there is no slowing down of interest or, potentially, implementation of these software offerings.
What does this mean for my business?
Regardless of the strategy or company goals, it’s critical to not lose the trust of the customer. There is no software that replaces loyalty and brand confidence. There will always be evolution in the software industry, the regulations around their use, and the metrics associated with success.
The root of good marketing and marketing strategy is to understand where to capitalize on the strengths and work to overcome the weaknesses. Data will fluctuate and markets will change but the constant will be the consumer, so businesses must be sure to use their data and strategy to be consumer first.
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Victoria Blackwell
Victoria is a Research Principal at G2 concentrating on marketing and digital advertising software. Prior to G2, Victoria began her career on Capitol Hill. She transitioned out of politics with an extensive background in project management and operations. She later found her niche in creating stylized brand and marketing campaigns while working for startups and powerhouse apps based in Chicago and London. This varied experience has made her an exceptional practitioner in the marketing and advertising content realm, leading her to expand into the B2B sphere.
