It's no secret that personalization is an important tool in marketing. In 2018, Epsilon produced a study showing that:
80% of customers would rather do business with a company that personalized its shopping experiences
75% of people think it's “very cool” when they get personalized offers
90% of consumers find personalization either very or somewhat appealing
Data revealed that people who find personalization “very appealing” are more likely to be repeat customers—defined here as making more than 15 purchases from a company during a calendar year.
Similarly, the lack of personalization can negatively affect customers' perception of a company. According to a 2019 research report:
63% of consumers expect personalization as a service standard
78% of customers believe there is a lot of room for improvement for companies when it comes to delivering personalized services
If you don't have the data that lets you target your marketing to individual contacts, your customer relationships will suffer.