At present we are living in the ‘Culture of Me’. Our digital interaction on any device or platform is getting personalized everyday. The power of personalization can build a delightful customer experience.
Here’s a personal experience.
The World Cup fever was still on. My brother and I were sitting next to each other watching the grand semi-finals of India vs. New Zealand on Hotstar. The internet server was slow and we didn’t want to miss a single ball of the match so we both shifted to our phones.
I know that was not our day and India exited the World Cup 2019.
But here’s the interesting part. After every over - ads were streaming and different ads were shown to both of us at the same time. While the "Uber Eats" ad was trying to woo my attention towards food. My brother was getting tempted to buy clothes from some fashion brand.
This incident made me more curious about how each of us is getting the ads of our choices. This made me research more on how brands are personalising their content as well as distribution. Companies are now aware that they can’t target all the customers in a similar manner.
From fashion to food & beverage to technology, customized products are becoming more and more common in brick & mortar and digital selling environments.
Advertisers are now able to serve targeted ads to viewers based on their age, gender and demographics, helping them get a better return on investment on their media money.
Research proves that consumers are expecting, if not demanding, highly personalized experiences that truly reflects their preferences.
According to McKinsey & Company, personalization
- Reduces acquisition costs as much as 50%
- Lifts revenues by 5-15%
- Increases the efficiency of marketing spend by 10-30%
Every individual has their own set of demands or needs. To identify a customer persona and cater to them is the recipe to win over today's customers.
The technology is much smarter today. Artificial intelligence and machine learning have literally become common speak.
Alexa is now a family member.