Personalisation today increasingly takes place at the individual level. Especially in retail and eCommerce, where businesses understand the importance of giving customers the correct message whenever and wherever they need it. Consider the recommendations made by an online retailer based on what a user recently purchased, for example. Customers now expect every business to approach them in this way, therefore, a marketing approach with more than segmentation alone is needed.
According to McKinsey & Company, 76% of customers are more likely to purchase from a business that uses personalisation. Forbes found that three-quarters of customers grow agitated if the customer service strategy does not suit their demands, increasing the risk of them switching to a competitor. Such findings underline the importance of real 1-2-1 conversations.
Marketers need more than segmentation alone
Marketing segmentation, where the whole target market is split into different client groups, each with its unique customer journey, has been the basis for many marketing campaigns. While this makes the approach more personalised than mass marketing, 1-2-1 hyper-personalisation is out of the question.
Businesses employing segmentation must create and modify marketing processes manually as needed. Yet, to do that for each consumer individually is not an option, as it would require thousands of marketers. So, how can you develop the hyper-personalisation you and your customers need at scale?
Boost your business with AI
The answer lies in the capabilities of artificial intelligence (AI). The use of AI technology guarantees that customers always receive the desired message. And that happens across every channel, with continuous hyper-personalised touchpoints time after time, for example, in newsletters, an online webshop or an online shopping cart.
With AI, manually setting up customer segments and flows becomes a thing of the past. After all, AI has automated that task and the algorithms are self-learning, which increases their capacity to contribute to the most individualised customer approach imaginable. As a result, your customers will recognise that your brand understands and delivers to their needs and wants.
The engine for your business
AI, therefore, helps in the interpretation of consumer data, regardless of the size of the customer base. Since AI is scalable, it expands with the company and offers hyper-personalisation for every consumer today and in the future. AI technology in the form of an AI Decisioning Engine can automatically hyper-personalise your marketing content by letting AI decide the most relevant timing and channel.
According to the Consuminded trend report outlining the personalisation trends for 2023, technology is no longer a barrier. This means that your business may be able to implement an AI Decisioning Engine sooner rather than later. Nowadays, not only has the variety of AI tools increased significantly, but also using them is simple. Because of this, the technique is both practical and efficient. And last, here's something useful to know: AI just adds a layer on top of your current IT environment, so nothing needs to be changed.
Get started with hyper-personalisation
Retail and eCommerce businesses can no longer avoid hyper-personalisation. So, the sooner you start, the more likely you are to achieve your own business goals, strengthen customer loyalty and get optimal returns from your existing customer base. Contact us to discuss how you can get started with hyper-personalisation with an AI Decisioning Engine.