Personalization Software Statistics 2024

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In an era where customer experience reigns supreme, the significance of personalization software cannot be overstated. As businesses navigate the competitive landscape of 2024, understanding the latest trends and data in personalization software becomes crucial. This technology, which tailors content, recommendations, and communications to individual preferences, is revolutionizing how companies interact with their customers. By delving into the latest statistics, we can gain invaluable insights into how personalization strategies are shaping consumer behavior, driving sales, and fostering brand loyalty.

Key stakeholders, such as marketing professionals, business strategists, and software developers, will find these statistics particularly valuable. For marketers, personalization data can illuminate new pathways for segmenting audiences and crafting more effective campaigns. Business leaders can leverage these insights to guide strategic decisions, ensuring that their companies stay ahead of the competition. Software developers, on the other hand, can refine their products based on emerging trends and user preferences, enhancing the overall value proposition of their offerings.

Ultimately, this data serves as a powerful tool for informed decision-making in the fast-paced business environment of 2024. By understanding and leveraging the latest trends in personalization software, organizations can not only meet but exceed consumer expectations, positioning themselves for sustained growth and success. The forthcoming sections of this article will provide a detailed exploration of these critical statistics, offering a robust foundation for strategic planning and innovation.

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Top Personalization Software Statistics 2024

☰ Use “CTRL+F” to quickly find Personalization Software facts. There are total 62 Personalization Software Statistics on this page 🙂

Customer Preferences And Expectations

  • 80% of customers believe it’s appropriate for brands to collect purchase history to improve personalization [20].
  • 64% of customers expect enhanced personalization when they spend more money [2].
  • 66% of customers expect companies to understand their unique needs and expectations [4].
  • 70% of consumers say that how well a company understands their individual needs impacts their loyalty [4].
  • 76% of customers get frustrated when their shopping experience is impersonal [4].
  • 44% of consumers say they will likely become repeat buyers after a personalized shopping experience with a particular company [5].
  • 40% of consumers wish that brands knew more about their style preferences [8].
  • 72% of luxury consumers have personalization at the top of their list of things they’d like to see when dealing with brands [8].
  • 75% of consumers expect personalization to make navigation easier both in-store and online [8].

Impact Of Personalization On Business

  • Offering personalized customer experiences can increase a company’s revenue by 40% [2].
  • Companies that use advanced personalization see a return on investment of $20 for every $1 invested [13].
  • Executives committed to personalization report that they exceeded annual revenue targets compared to those not as committed [13].
  • 54% of executives committed to personalization report that they exceeded annual revenue targets compared to only 15% of those not as committed [5].
  • Personalization can lower acquisition costs by up to 50%, boost revenues by 5-15%, and increase marketing ROI by 10-30% [9].
  • Companies that thrive at personalization earn 40% more money from these activities than the average competitor [12].
  • Personalization can deliver five to eight times the ROI on marketing spend and lift sales 10% or more [12].
  • Retailers who want to attract more business through email in 2024 can segment their audiences and develop unique offers [2].
  • On average, companies better at personalization see 40% more revenue from their marketing campaigns [2].

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Consumer Behavior And Insights

  • 71% of consumers feel frustrated when a shopping experience is impersonal [5].
  • 63% of consumers stop buying from companies with poor personalization tactics [5].
  • 80% of shoppers are more likely to buy from a company that offers personalized experiences [5].
  • 90% of customers are willing to share personal behavioral data with companies for a cheaper and easier experience [12].
  • 70% of consumers say a company’s understanding of their personal needs influences their loyalty [18].
  • 66% of consumers say encountering content that isn’t personalized would stop them from making a purchase [18].
  • 83% of consumers are willing to share their data to create a more personalized experience [18].

Email Personalization

  • Personalized emails achieve an impressive open rate of 29% and an outstanding click-through rate of 41% [17].
  • Emails with personalized subject lines are 26% more likely to be opened [5].
  • 55% of consumers believe receiving targeted promotions and discounts would create a more enjoyable email experience [18].
  • Marketers report a remarkable 760% increase in email revenue from adopting personalized and segmented campaigns [17].

Technological Integration And Tools

  • By 2025, 70% of organizations will use digital adoption solutions across the entire technology stack to overcome still insufficient application user experiences [1].
  • 61% of high-growth companies are shifting toward first-party data for their personalization strategies [8].
  • 79% of retail employees invest in personalization tools, which is more than any other industry [13].
  • 88% of marketers want to improve the customer experience with the help of personalization [10].

Market Trends And Future Projections

  • The global personalization software market was worth an estimated $943 million in 2022 and is projected to hit $12 billion by 2025 [8].
  • 89% of businesses are investing in personalization as a critical strategy for their current and future success [11].
  • Personalization marketing has real advantages for companies: it can reduce customer acquisition costs by as much as 50%, lift revenues by 5 to 15%, and increase marketing ROI by 10 to 30% [9].
  • Companies with faster growth rates derive 40% more of their revenue from personalization than their slower-growing counterparts [9].

Retail And E-commerce

  • 74% of eCommerce companies have implemented website personalization programs [2].
  • 56% of online shoppers are more likely to return to a website that recommends products [18].
  • 47% of consumers check Amazon if the brand they’re shopping with doesn’t provide product suggestions that are relevant [18].
  • 91% of shoppers would abandon an online retailer over a poor shopping experience [19].

Data Privacy And Ethics

  • 41% of customers find personalized texts from brands as they walk by the store creepy [12].
  • 49% of consumers don’t trust brands to handle their data responsibly [15].
  • 40% of consumers do not expect companies to use their data ethically [2].

Customer Experience

  • 80% of customers say the experience a company provides is as important as its products or services [2].
  • 78% of consumers said personalized content made them more likely to repurchase from a brand [12].
  • 76% of consumers said receiving personalized communications was a key factor in prompting their consideration of a brand [12].
  • 84% of customers say being treated like a person, not a number, is very crucial to winning their wallet share [7].

Challenges And Barriers

  • The biggest challenges with personalization are gaining insight quickly enough (40%), having enough data (39%), and inaccurate data (38%) [5].
  • 43% of companies perceive accurate, real-time customer data as the most difficult hurdle to their personalization efforts [12].
  • Only 6% of companies are truly capable of consolidating data into a single view of the customer for personalized experiences across channels [14].

Personalized Marketing And Advertising

  • 79% of consumers say they are only likely to engage with an offer if it has been personalized to reflect previous interactions the consumer has had with the brand [5].
  • Personalized shopping cart recommendations influenced 92% of shoppers online to buy products [5].
  • By personalizing homepage promotions, retailers can capture 85% of customers who rate these ads as influential [2].

Influencer And Social Media Marketing

  • Influencer marketing grew by 29% in 2023, becoming a $21.1 billion industry [3].
  • In 2023, the global live streaming market grew to $1.49 billion, up 20% from 2022 [3].
  • 92% of marketers plan on maintaining or increasing their investment in search engine optimization in 2024 [16].

Personalization Software And Tools

  • True Fit, having previously catered primarily to large enterprise retailers and brands, extended its services to Shopify’s network of merchants in late 2023, with adoption soaring 900% YTD [6].
  • 360 is really the next-level, allowing for more sophisticated testing solutions and key features [20].

Market Growth And Investments

  • The global personalization software market is expected to grow to $5.16 billion by 2030 [13].
  • The recommendation engine market size is projected to hit $12 billion by 2025 [8].
  • Companies that create personalized experiences grow year-over-year incremental revenue by 1.7x, and more than double the lifetime value of their customers [19].

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