44% of marketers invest in experimentation to drive revenue during economic downturn
New research from Optimizely reveals that marketers are turning to experimentation to deliver more relevant, data driven, campaigns and boost revenue.
LONDON, UK, October 31, 2023 – Rather than cutting back, 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, the leading digital experience platform provider, 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.
With almost every brand now using personalisation, 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 line.”
To learn more about personalisation with Optimizely, visit https://www.optimizely.com/personalization/
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Rachel Teitt Gill
Vice President, Global Communications & Creative
Sr. Manager, Global Communications