What Personalization has in Store for Businesses

By CIO Applications| Friday, January 31, 2020

With the intelligent use of data, personalization allows businesses to create relevant and unique customer experiences.

FREMONT, CA: Personalization is no longer a buzz word because those who know of its importance are capitalizing it and reaping the benefits. Thanks to advanced technology solutions as most organizations today are able to personalize their product and services offered to their customers. Most expert business leaders are now going as far as to say that personalization is the future of business.

Personalization means interacting with a customer in a way that makes them feel that their interests are being valued. Companies tailor products and services for individual users depending on their preferences gauged through data collection, analysis, and automation technology. Personalization can be considered a key element to increase both revenue and customer base because it enables a company to segment its consumers and target them accordingly.

A customer review by Deloitte revealed that one in five customers are more than happy to pay 20 percent more for personalized and custom-made. The same report also summarized that customers over 55 years old were more likely to buy a customized product than those in the age group of 16-24. Personalization is a vital part of enhanced customer experience, with intelligent use of data enabling marketers to create appropriate and unique experiences that hold attention for longer.

Customers want everything at their convenience and comfort, and personalization is just the answer to it. Businesses have realized the importance of personalization and trying their best to deliver what the customer wants before competitors do. There has not been one instance that personalization has not worked well. Brands should start personalizing if they have not yet set their minds to it. Personalization will only get brands to meet more satisfied and loyal customers, allowing brands to stay competitive and relevant in the market.

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