Hyper-Personalization: Three Keys for Empowering Meaningful Experiences
Marketplace competition for customer engagement has tightened. The expectation of personalized experiences continue to rise. Customer behavior and data have become more nuanced. Traditional methods and tools for segmentation and engagement are straining and failing under these changing dynamics. In this context, businesses need to modernize how they source, interpret, and consume information — in order to identify and respond to customer behaviors and needs with real-time hyper-personalized moments that matter.
In today’s fluid ecosystem of constant connections and choices, consumers are seeking personalized experiences, and they have new expectations around frictionless access, engagement and control of the things that matter most to them. In response, organizations must create a customer experience-focused ecosystem that combines and orchestrates the potency of data, customer analytics and artificial intelligence (AI) into an intelligent data platform that connects information to drive measurable, predictable results — ensuring highly engaged and satisfied customers for long-lasting revenue.
Well-orchestrated hyper-personalization initiatives produce intelligent, on-demand, responsive and personalized customer experiences, that are always learning, always recognizing where customers are, and intuitively providing what they need next. It surrounds customers with a contextually tailored experience, where they are known, understood, enabled and wowed — with dynamically individualized offers, prices, products and services through algorithmic optimization.
The confluence of marketplace competition and heightened customer demands have created a new horizon of opportunities for C-Suite decision makers.
Here are three keys for success when facing the challenges and opportunities of the new horizon — with Hyper-personalization.
1. The experience mandate:
The evolving digital landscape is being shaped around the value of experience. Delivering meaningful customer experiences has never been more critical for brands. Customers are demanding more choice, engagement, self-service, personalization, and empowered convenience. Providing this heightened level of experience is not only the new mandate for engaging and retaining current customers, but also for acquiring new ones as well. Leveraging the power of data, customer analytics and AI, enterprises are enabled to provide these progressively responsive, intelligent, frictionless, curated and immersive hyper-personalized experiences — such as the example below of a seamless hyper-customized drive-thru experience.
2. Digital resilience required: The pandemic was the digital accelerant of the last decade. Customers, competition and emerging technologies all flooded the digital channels, heightening the challenge and cost of customer acquisition and the monetization of products and services. At that time businesses needed to be responsive. Today they must be resilient. New data and AI-driven methods are needed to engage and influence todays sophisticated and socially hyper-active consumers. To remain relevant, brands need to provide new value for existing customers with elevated and rewarding experiences across all touch-points, while acquiring new ones with contextually tailored precision.
The below example is evidence of how activating real-time data, customer analytics and emerging technologies (such as Conversational AI) can satisfy and retain customers with on-demand personalized support.
3. The activation of intelligent data: Business success hinges on the ability to access all actionable data, anticipate market changes and quickly scale operations to effectively deliver products and services. By harnessing AI and machine learning (ML), organizations can improve access to customer data, transform that data into actionable insights, and use robust analytics for predictive decision making — enabling hyper-personalization at scale to meet customer demand and drive revenue growth. By activating intelligent customer data, enterprises can unlock real business value with hyper-personalization at scale.
By leveraging data-driven Hyper-personalization, enterprises can secure the digital resilience and relevance needed to meet the demands of the new experience mandate — by identifying customer needs, upsell opportunities, and activating customer engagement at key touch-points within their preferred channels.
