The Four Ds of Personalization at Scale
B2B Buyers are more sophisticated than ever. Borrowing from their consumer experiences, they expect B2B brands to deliver engaging experiences on their own terms. Hence the interest in ABM and personalization. While over 90% of companies say personalization is a top priority, only 15% of those companies are successful with the practice.
But how do you wire your marketing organization, tech stack and processes to ensure success? McKinsey recently wrote a great article outlining the key elements of a successful personalization program (I’m directly quoting the article below) -
- Data foundation: Building a rich, 360-degree view of customers in real time
- Decisioning: Mining data to identify and act on signals along the consumer journey
- Design: Crafting the right offers, messages, and experiences at speed
- Distribution: Delivering and measuring these experiences across platforms and feeding new insights into the data foundation
We know that data and insights are important (the first “D” - Data Foundation).
However, marketers must also be able to segment and customize experiences based on the specifics of the buyer (what company, buying group and persona are they) and their level of engagement (the second and third “D” - Decisioning and Design).
Finally, marketers must be able to create experiences in any and all channels preferred by the buyer (the final “D” - Distribution).
We’ve seen many examples of outsized success for companies that are successful at operationalizing these four elements.
- Masergy ~7x opportunity creation and 50% higher opportunity MRR in under a year when driving 1:1 personalization across 50,000+ accounts in their target market
- Informatica saw a 2.6x increase in post-click conversion and a 2.6x decrease in cost-per-qualified lead in their contact acquisition programs
- MongoDB saw a 73% increase in opportunity creation and 27% increase in overall funnel velocity after taking an account-based approach in deciding which inbound leads to follow-up on.
In fact, we built Lattice Atlas, the first CDP for B2B marketers, with these elements in mind.
Personalization is clearly a critical ingredient for B2B sales and marketing success. While I don’t want to minimize the need to have the right team, governance, KPIs and alignment, you need the “Four D’s” to make it all work at scale.
What are your thoughts? What else do you see as critical to success in achieving 1:1 personalization for your business?