Personalisation – 1
As customers, we love content and experiences curated just for us. And yet, there is a big gap in what brands offer. What’s missing is the data and analytics which are at the heart of crafting unique experiences for every customer.
Brian Carlson (CDP.com): “Data-driven marketers will embrace data and analytics as a foundational step to identify opportunities and create operational efficiencies. They examine the full customer lifecycle, focusing on areas where the most value is found. Data-driven marketers also leverage customer segments and microsegments, and will factor in data like behavioral, transactional, and engagement trends into their strategy… Personalization-ready marketers will invest in technology solutions that have activation capabilities and advanced analytics. Data-driven marketers should plan to develop scalable content and AI-driven functionality so they can respond to customers’ needs in real time.”
Blake Morgan (Forbes): “The shopping experience of the future will be personalized and technology-driven. Customers will be able to see items instantly, try them on and test them virtually, and have them customized to their exact preferences. The shopping experience will seamlessly move between the physical and digital worlds to give customers exactly what they want when they want it… Technology will be everywhere and make it possible for companies to automate the mundane parts of customer experience while also increasing and scaling their personalization efforts. It will be a fine balance between the two sides: customers want technology to make the experience smoother and more convenient, but they also want personalization. Companies will have to find the balance between automating and innovating with technology like AI, VR and connected IoT devices while also adding a human touch.”
Esat Artug (Ninetailed): “Personalized experiences are becoming an important part of the customer journey in this fast-paced change. Brands that successfully meet personalization demands will be handsomely rewarded with increased loyalty and greater revenue in the years ahead. Because the more consumers interact with a company in a more personalized way, the more likely they are to buy from that company again…Investing in customer data and analytics foundations will give businesses the ability to collect, cleanse, and unify data from various sources. This will provide a complete view of the customer journey, which is essential for personalization. Additionally, businesses need to be able to quickly process this data and create actionable insights in order to make real-time decisions. Building up agile capabilities will allow businesses to move quickly and efficiently to implement these decisions.”
Data is central to personalisation. While much of the focus has been on what marketers can glean about their customers using first-party data, I think 2023 will herald a big shift towards zero-party data.
