With the increased digitization across industries, businesses face several challenges to serve their audience well and thus, improved personalization is a must-have.
Given the current evolving market scenario, personalization is increasingly becoming a priority among marketers. The “customer-centric” marketing strategy could be complicated in many instances – however, it is helping to improve overall business revenue and competency as consumers respond positively to it.
A vast majority of consumers, almost 73%, reported that they expect a personalized buying journey when they indulge with their preferred brands online – reveals a recent study from Kameleoon. Today, even more users expect personalized emails from their favorite brands.
Hence, marketers need to realize that an effective personalization method does not always require substantial identifiable information for functioning rightly. As per the industry experts, here algorithms can be trained to forecast – especially after almost customers 2,500 conversions.
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Thus, marketers need to focus more on their personalization models and implement that to design a measurable, well-argued business case. With clarity on the business objectives along with other verified tactics, brands can stay ahead of their competitors in this unprecedented time.
Another study by Accenture indicates that nearly 83% of consumers are agreeable to share their data for a personalized experience. This is provided brands are transparent on how they are utilizing their data and consumers have some authority over it.
For organizations that want to combine existing cold data from CRM into their personalization platforms, it is highly crucial to operate with a merchant – who is aware of all relevant legislation. This could also ensure brands remain compliant through the process.
Furthermore, in this uncertain marketplace, information breaches are inevitable – however, the threat depends on how brands tackle them. For instance, deploying various tools that can utilize cross-domain local storage can facilitate retaining data. Besides, this can be used to control on-going personalization for website visitors.
Without a doubt, delivering improved and real-time personalization at scale is tricky and thus, it demands a robust technological architecture within the business. The system needs to be designed for synchronized insights and with artificial intelligence to predict the intent of conversions – on the basis of behavioral data analysis.
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In this perspective, Noah Elkin, Vice President Analyst at Gartner for Marketers Practice explained – Marketing organizations “should focus on addressing longstanding personalization challenges by channelling their existing collection and use of customer data toward customer needs that align with business goals.”
It is no secret that 2020 has accelerated the paths of brands into a more digital as well as customer-centric vision. Certainly, 2021 is continuing to jostle priorities in customer experience transformation as the market is dealing with uncertain changes and curveballs.
As a result, it is crucial for marketers in every organization to develop an innovative, organizational framework that merges the emerging technologies deployment to strategic digital marketing objectives for overall business success.
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