More than 70% of the Brand Leaders for Video or Personalization Reach Customers with Personalized Video, reveals SundaySky
SundaySky Personalization X Video Index Ranks Fortune 500 Brands on Personalization and Video Marketing According to Customer Feedback
More than 70% of the brands who rank in the top ten for either personalization or video, as rated by their customers, use the two strategies together in the form of personalized video, according to a new consumer study from SundaySky ranking industry leaders on personalization and video marketing. SundaySky surveyed customers of more than 60 household names to gauge customer satisfaction with brand efforts in both personalization and video spaces, scoring the leaders of retail, travel, healthcare, telecommunications, insurance and financial services in the new Personalization x Video Index.
“Consumers have access to unprecedented amounts of information and options, and as new entrants compete for their attention, brands need to compete on a dimension of customer experience where each experience is personal, valuable and emotionally engaging to each person”
Separately, video and personalization are proven strategies for providing value to customers and improving customer satisfaction, and the convergence of these two approaches lifts consumers’ satisfaction with brand efforts. Consumers universally rated brands’ personalization efforts higher than they rated their video efforts. Bank of America achieved top rating for personalization in SundaySky’s Personalization x Video Index due to positive customer experience across advertising and owned media channels. In the financial industry, the brand beat out American Express in both personalization and video ratings. Overall, brands in the financial services industry have the highest personalization scores compared to other industries, likely due to high competition for seamless brand experiences and personalization for customers to bank anytime across multiple channels. The travel industry rated the highest in video, which can be attributed to the plethora of footage that brands leverage from destinations, activities, properties and other visual content.
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“Online video can serve digital business strategy professionals by increasing brand awareness, educating customers about products and services, and helping with lead generation, cross-selling, and upselling,” writes Nick Barber, Forrester analyst, in his April 2019 report Financial Services Firms Should Weave Online Video Into Every Customer Journey. “Specifically, video can… encourage customers to buy, … increase [their] satisfaction, [and] connect with [them] on an emotional level.”
The Personalization x Video Index highlights leaderboards in several industries. Sephora leads Amazon for the top retail ratings in both personalization and video. Walmart earned 12th place ranking in both personalization and video, while Target is listed among the top five retailers. Verizon and AT&T led T-Mobile and Sprint on both personalization and video, with Verizon taking top marks against all telecommunications brands measured.
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“Consumers have access to unprecedented amounts of information and options, and as new entrants compete for their attention, brands need to compete on a dimension of customer experience where each experience is personal, valuable and emotionally engaging to each person,” said Jim Dicso, CEO of SundaySky. “For the world’s biggest brands to attract, retain and ensure happy customers, SundaySky provides the platform and expertise they need for personalized, emotionally rich video that also scales across their millions of customers.”
SundaySky’s research also revealed that only 29 percent of consumers reported the efforts to use their data for personalized experiences in consistent and seamless ways were satisfactory. SundaySky researchers advise brands need to incorporate personalization in video marketing strategies to keep up with demand, and there’s room for personalization improvement to ensure great consumer experiences. This advice comes from another recent study done by SundaySky on how personalized video can boost customer experience Net Promoter Scores. The study showed that the use of personalized video as a customer experience strategy correlates with up to a 48-point increase in NPS.
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