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Optimizely

Marketers experimenting more to fight economic downturn
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Almost half of marketers (44%) are actively investing in experimentation as a direct response to the UK’s current economic slump.

That’s according to new research from Optimizely, which reveals marketers are using experimentation in the face of cutbacks as a way to deliver personal experiences that drive revenue, boost customer retention and deliver growth.

The Personalised to Personal report, based on a study of 100 UK marketing leaders and 1,000 UK consumers, explores the financial benefit of delivering targeted experiences that are “truly personal.” The research shows that an overwhelming majority of marketers (75%) believe it’s “more important than ever” to find new ways to optimise their personalisation strategy during tough economic times.

70% of marketers say they are marrying personalisation with experimentation to get ahead of the competition and deliver content that will stand out. Optimizely’s report argues that this is a smart move, at a time when 65% of consumers are more loyal to brands that get to know them at a personal level.

“At a time when UK consumer spending power is at its lowest levels due to high inflation, it’s more important than ever for brands to deliver online experiences that demonstrate they understand consumers, including their preferences and needs,” said Shafqat Islam, Optimizely CMO. “Experimentation is one of the smartest investments a brand can make. It allows companies to properly understand their customers’ behaviours and make decisions based on data, rather than assumptions, in order to provide the tailored experiences that customers love – driving loyalty and boosting brands’ bottom lines.”

Photo by Alex Kondratiev on Unsplash

UK consumers reckon 50% of personalised content is a turn off
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Over half (51%) of UK consumers say that the targeted content they receive online is often “boring” or “unhelpful.”

That’s according to new research from Optimizely, the leading digital experience platform (DXP) provider, which reveals that while personalisation holds great potential for enhancing customer loyalty, the reliance on assumptions and outdated technology remain major obstacles.

Based on a comprehensive study of 100 UK marketing leaders and 1,000 UK consumers, the Personalised to Personal report shows that an overwhelming 70% of consumers feel frustrated that the promotions they receive are not directly relevant to their personal interests.

Concerningly, 83% of marketers admitted that their current personalisation efforts heavily rely on assumptions about customers rather than high-quality insights. 71% also acknowledged that generalisations still form the foundation of too many personalisation campaigns, pointing to a significant gap between the personalised experiences consumers desire and what brands currently provide.

The study also shed light on how outdated technologies hinder effective personalisation. Only 33% of marketers claimed to possess the necessary technology to deliver hyper-personalised experiences tailored to individual customers.

These shortcomings largely stem from outdated technology, with a staggering 74% of marketers feeling that their current personalisation tools are no longer adequate.

However, the report also highlights the immense potential of personalisation to foster customer loyalty. A notable 65% of consumers are more loyal to a brand that has taken the time to understand them on a deeper, more personal level.

“In 2023, delivering truly personalised content is absolutely essential to meet individuals’ interests and needs, as well as to foster brand loyalty,” said Shafqat Islam, CMO of Optimizely. “But when the vast majority of marketers are using outdated technology, it’s nearly impossible for them to regularly meet consumer’s expectations, leading them to miss out on the strong growth opportunities that a data-led personalisation strategy provides.”

The findings of Optimizely’s report highlight the urgent need for brands to bridge the gap between customer expectations and the personalised experiences companies currently deliver. By investing in modern, data-driven technologies, such as web experimentation, brands can optimise their personalisation efforts and forge deeper connections with their customers.

While having modern personalisation technology is crucial for providing relevant online experiences, brands must also focus on making their content engaging and exciting to avoid appearing dull. To achieve this, marketing leaders should think about adopting a content marketing platform, providing a dedicated workspace where teams can organize workflows, collaborate on assets, and efficiently run campaigns. By simplifying the content creation process, marketers can dedicate more time to crafting and refining content and less time on administrative tasks.

Over half (51%) of UK consumers say that the targeted content they receive online is often “boring” or “unhelpful.”

Survey says marketers ‘remain defiantly creative’ in the face of recession
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Marketers feel more under pressure than ever to show their worth, with 84% agreeing that proving ROI has become more important as budgets are scrutinised and businesses tighten the purse strings.

That’s according to Optimizely, which surveyed 100 in-house marketing professionals across the UK and found that despite anticipated financial constraints, almost two thirds (63%) of marketers are determined to be even more creative in 2023 with half of those surveyed (50%) also looking to take more risks as we head into the new year.

Optimizely’s research also looked at the role of marketing in navigating economic uncertainty and how to market most effectively when budgets are cut.

Key findings include:

  • An overwhelming majority of marketers (91%) believe that it is important to invest more in marketing during a recession – with over half (55%) strongly agreeing with this statement.
  • Three quarters (76%) also believe that customer experience will remain an ‘essential’ part of their marketing strategy in the year ahead despite the uncertainty — more than any other factor.
  • Over half (55%) also believe that personalisation technology will be an essential element in their plans for reaching consumers during the tough times ahead.
  • Seven in ten (70%) marketers in the UK believe that their ability to experiment is being restricted as Britain enters what is anticipated to be its longest period of recession since the 2008 financial crisis.

Commenting on the findings, Optimizely’s CMO, Shafqat Islam said: “The bleak economic outlook undoubtedly puts marketers under more pressure to deliver more business outcomes under increased scrutiny h in 2023. But while cutbacks are being made, using data and insight to experiment and learn about customers will continue to play a vital role in brand growth.

“To limit creativity and experimentation at a time of economic hardship is a short-sighted approach based on the fallacy that experimentation does not provide ROI because it includes an element of ‘failure’. Rather, experimenting helps teams to fail fast, enabling them to quickly learn what does and doesn’t work in the new economic landscape. There are no failures, just learnings.”

“The right experimentation strategy helps marketers decide which creative ideas are, and aren’t, worth pursuing. This informed, creative strategy — combined with a personalised approach — will provide the backbone for marketers’ success in 2023, no matter what happens with the UK economy.”

68% of UK marketers are embracing hybrid working
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More than two thirds (68%) of UK marketers are embracing a hybrid approach to work to support their teams in the creation of new ideas having overcome the challenges of the past two years.

That’s according to research from digital experience platform (DXP) provider Optimizely, which concluded that creativity is critical in driving strong customer experiences.

The Marketer Experience study, based on a global survey of in-house marketing professionals, including 200 in the UK, explores attitudes and approaches to creativity. It reveals that 85% of UK marketers say as long as communication is effective, creative ideation will happen no matter where teams are.

The report also shows that physical presence is not the only factor impacting creative behaviours, with UK marketers citing the following as the top five barriers to driving creativity over the past two years:

  1. A lack of urgency (32%)
  2. Limited or lack of access to good collaboration tools (31%)
  3. Engaging remote employees during virtual meetings (31%)
  4. Leadership team putting pressure on outcomes and results (29%)
  5. Motivating employees to develop creative ideas (28%)

A hybrid working environment also supports the ways in which UK workers find their creative inspiration, with 43% drawing on interpersonal communications with peers and/or colleagues, 41% from social media such as TikTok, Instagram and Twitter, and 40% through internet research. More than one third (37%) also find inspiration from attending events, either in-person or virtual.

Download the Optimizely report; “The 2022 Marketer’s Experience: Hybrid Work Impacts Delivery of Exceptional Customer Experiences.”

Junior marketers ‘driving customer experience innovation’
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Junior marketers are playing a leading role in driving innovation, with 50% saying that trying out new techniques and ideas to improve customer experiences is a major part of their day-to-day activities.

That’s according to Optimizely’s Culture of Experimentation report, based on a survey of 200 UK in-house marketing executives, assistants and managers, which also highlights that 50% of marketing assistants are directly responsible for improving the customer experience, compared to 42% of marketers at management level.

The report reveals junior team members are being entrusted with driving innovation and change to improve customer satisfaction, with only 14% saying they don’t have the freedom to try new things and 24% that their opinion isn’t valued by senior team members.

Commenting on the findings, Kirsten Allegri Williams, CMO of Optimizely, said: “It’s very encouraging to see that so many junior marketers in the UK are being inspired to challenge established marketing practices. Experimentation is integral to the customer experience, so introducing this mindset and challenging the status quo can significantly impact how brands interact with their audiences in a positive way.

“Junior marketers are the ones who are likely to shape the future of UK marketing. Bringing this experimentation practice will absolutely help to advance their careers, along with their enthusiasm and a fresh thinking. It’s vital that senior team members embrace this and drive collaboration at all levels, making everyone feel heard so new data-based changes are implemented wherever possible.”