Meta has partnered with industry insights and audit, tax, and consulting services company Deloitte on a report which explores how personalisation enables businesses to tailor products, services, and experiences to people’s preferences, ultimately driving customer loyalty, digital transformation, and increasing conversion rates. 

• Personalisation is more than just a marketing trend - it's a strategic imperative.
• As people want content and services that are more relevant to them, they are increasingly drawn to brands that make them feel understood.
• Businesses that excel at creating bespoke experiences for their customers through personalisation are seeing better results in terms of customer engagement and loyalty.
• Recent research shows that only in the EU Meta’s personalised advertising technologies were linked to €213 billion in economic activity and 1.4 million jobs.
• Personalised ads are particularly beneficial for small businesses, which make up over 99% of businesses in the EU, because they help these businesses reach customers most likely to be interested in what they offer in the most cost-effective way.
• Deloitte’s research showed that 80% of surveyed consumers are more likely to make a purchase when brands offer personalised experiences.

Key Themes

Consumer Trust for Personalisation:

• Today’s consumers have high expectations and want to be rewarded for the time, money, and loyalty they invest in a brand.
• Deloitte research showed that 78% of surveyed consumers want personalisation that saves them money.
• Research shows that when brands deliver on these expectations, they will experience stronger customer loyalty and see business results - for instance, marketers offering greater personalisation see a 16-percentage-point increase in conversion rates compared to those with low personalisation efforts.

Technological Advancements:

• Leading brands leverage AI and machine learning to create increasingly relevant experiences for their customers. 
• The whitepaper provides a framework that assesses personalisation maturity for organisations, helping marketers evaluate and plan their technological capabilities based on factors such as data availability, decision-making processes, AI/ML tools used, and others.

Cross-Functional Collaboration:

• While marketing teams often lead personalisation initiatives, successful implementation and execution requires careful planning and collaboration across multiple teams. 
• The whitepaper lays out some essential considerations, including how to create a business case for personalisation, the different roles cross-functional partners are expected to play in creating a personalisation strategy leveraging AI, and how to act on this strategy through robust AI governance structure.

Steps for Marketers to Embrace Personalisation

No matter the brand’s maturity, marketers need to leverage high-quality data and advanced AI and ML technologies to enhance how they understand and address customers’ needs. 

• Educate and Build Awareness: Communicate within your organisation about personalisation as a business imperative that supports customer engagement and loyalty.
• Assess Your Current Position: Evaluate your organisation's current personalisation capabilities and identify areas for improvement.
• Collaborate: Encourage cross-functional collaboration to ensure a unified approach to personalisation.
• Leverage Technology: Invest in AI and machine learning technologies to enhance your personalisation efforts and deliver tailored experiences.
• Experiment and Innovate: Continuously test and refine your personalisation strategies to stay ahead in the competitive market.

For the full report, visit facebook.com.