Monetate Research Shows Increase in Personalization and Better Performance over Last Year
Monetate, a Kibo Company and a worldwide leader in personalization, announced findings from Thanksgiving weekend including Black Friday and Cyber Monday. The company, which experienced a 2x increase in session volume this year over last year, found that retailers have increased their use of personalization, and are benefitting this holiday season with dramatically better conversion rates and order values.
- U.S. Conversion Rates were 5.6 times higher for pages with Monetate personalization compared to non-personalized pages.
- UK Conversion Rates were 3.2 times higher for pages with Monetate personalization compared to non-personalized pages.
- Average Order Value increased 54% for U.S. shoppers exposed to Monetate personalization
- Average Order Value increased 11% for UK shoppers exposed to Monetate personalization
Marketing Technology News: 75 Inspiring Martech Leaders Who Are Prepared for 2020
Monetate also found that retailers grew the use of personalization by more than 200% from 2018 to 2019 across the U.S. and the UK. This includes growth across segmented experiences, Individual Fit Experiences (one-to-one personalization) and Majority Fit Experiences (dynamic testing).
Individual personalization often affords brands the most effective approach, but brands must first identify visitors. Monetate found that over this Thanksgiving weekend, U.S. retailers identified just over one-third (35%) of their visitors across desktop and mobile compared to only 23% visitor identification last year. In the UK, identification rates are lower due to stricter data laws, but UK retailers still increased their visitor identification rates by 2% across desktop and mobile. This is good news for brands as they work to create better cross-device personalization as well.
Marketing Technology News: Pega Expands Cloud Choice Guarantee With Kubernetes Support
“Our retailers dramatically increased their use of personalization across many channels, and the effort paid off with higher performance this Thanksgiving weekend,” said Lisa Kalscheur, CMO at Kibo. “Combining different personalization tactics enables brands to deliver a cross-channel experience that is better for customers, and better for business.”