Personalization: It’s a value exchange between brands and customers

Consumers are increasingly choosing brands that make them feel understood as individuals. Brands that excel at personalization are soaring past their revenue goals because their customers buy more, more often, and remain loyal over time. Compared to peer brands with low personalization maturity, brands that excel at personalization are …

• 48% more likely to have exceeded their revenue goals

• 71% more likely to report improved customer loyalty

A new Deloitte Digital report reveals that brands have ramped up their focus and spending on personalization efforts since 2022, when Deloitte Digital published its previous personalization report. Deloitte Digital’s latest research reveals that the number of brands incorporating personalization as a core experience strategy has risen 50% since 2022, and that brands expect to increase their annual personalization budgets by 29% this year compared to the previous year.

The importance of personalization is widely acknowledged, yet most brands are still not executing it well. The value proposition is clear, but many leaders are still facing a connection gap between their customer strategy and end-user experience. Customers want to control how they receive personalized content, and brands need to upgrade their technology, channel strategy, and more, to meet evolving demands.

Download the full report to gain all of the latest insights on the state of personalization.