When was the last time you received a super personalized email from a brand? One that makes suggestions based on your preferences or previous purchases... chances are, well, never. For marketers, this seems as somewhat of a surprise. Mainly because personalization is something they often talk about a lot.
Even though customers seem to be demanding a more personalized engagement, brands struggle to get a solitary view of the customer. Here's the problem, marketing is somewhat disconnected when it comes to multi-channel efforts. That includes email, mobile, web, and direct mail. All of which lack integration and as a result a lack of customer focus.
According to a series of recent studies, only 14% of brands rank themselves as “strong” in achieving a single view of the customer. With less than 10% of top-tier brands say they’re highly effective at personalization.
However, there is still an overwhelming need to personalize marketing efforts:
- 44% of direct mail is never opened (NewsCred)
- 91% of consumers unsubscribe from emails (Salesforce)
- 60% of us opt out of mobile push notifications (Kahuna)
- Over $280 billion is abandoned in digital shopping carts, every year (Google)
The challenges that face marketers today is that the road to personalization can be limited. Most of the time, marketers find it hard to gain useful insights from their consumer data. Without the ability to extract any insight, it becomes difficult to develop consumer segments. Or even personalize those segments! Plus, there are other things that stand in their way. So where do you go from there?
How Extreme Personalization Can Work for Brands
Since personalization has been such a hot topic (and for SO LONG) it might be time to move straight past it. That's where extreme personalization comes into play.
You might not know this, but that top 1% of your customers are worth 18 times more than the average customer. This makes brands question how they can effectively engage with the top 1%. And more importantly, how do you engage ALL customers and convert them into top customers.
Nowadays customers expect more than just personal engagement. They also demand that engagement at the right time and place (like their devices). Not to mention the right message! Customers also want an integrated cross-channel experience. This is where 'extreme personalization' comes into the picture. And we have AI-powered marketing automation platforms to thank!
Three Reasons Extreme Personalization Is the Future
1. Too Much Noise
There are countless devices filled with an onslaught of information. Not to mention an increased competition for your time, attention, and money. Whenever communication is directed towards us, we pay attention. But only if it's relevant. Think about whenever you're on, let's say, Instagram. How often do you scroll past information that you ignore? Regardless if we know them personally or if they're brands. Relationships, personalization, and relevance test our attention.
2. It's a Win-Win
Extreme personalization benefits both brands and consumers. It lets you raise your conversions because you are super-optimized. That means you're talking to the right people at the right time. Best of all, you can make sure the messaging and product your consumers will respond to. As a result, you can get more sales with fewer inputs. Consumers win because they see content that is more relevant to them. Which reduces personal noise.
3. Technology Will Enable It
AI and deep learning bring this personalization to brands of all sizes. For smaller brands, it means that you can greatly benefit. Why? Because it reduces the risk AND expense of marketing to get their products and message in front of the right people. The impact that this technology is clearly undeniable.
Extreme Personalization Isn't That Hard - Thanks To AI
AI (artificial intelligence) gives markets the chance to personalize and humanize their messaging and engagement. It'll do so in such a way that brands will be able to effectively reach their audience. The good news is that brands can immediately integrate machine learning. As well as AI personalization. These can be placed into their existing marketing automation stack. That includes leveraging their existing email service providers.
This makes sure that it delivers accuracy and better results. After all, this can immediately impact your bottom line. Plus you can garner insights on how to better engage customers in order to deliver value that can make every consumer more valuable.
But keep in mind, it's not just about driving revenue. A lot of brands use new technology (and some creativity) to better engage with customers. This improves customer satisfaction, earn loyalty and grow communities. Over time AI can better predict what your customers will want next and even provide more personalized recommendations.
Steps Brands Can Take Toward Extreme Personalization
1. Move from segments to an audience of one.
In order to engage an audience of one, you need to change your customer engagement batch messaging for mass audiences. It's important to properly understand individual preferences. This is where AI-based integration comes into the mix. These real-time marketing capabilities will help you with your existing marketing automation stacks.
2. Unite your multi-channel efforts into focused cross-channel engagement.
When it comes to driving larger conversions through multi-channel messaging, you're missing out. Today's highly-connected consumer is leaving behind cues for modern marketers. Ones that honestly everyone can benefit from. With AI marketing automation, brands have the ability to figure out these clues and properly sort them. These insights will help lead your brand's development in a more relevant and compelling direction. It will also help in creating more personalized content that can reach individuals at the right time (on the right device). Whenever you use the right message your path to conversion becomes more optimized.
3. Leave all the guesswork behind.
AI expands beyond A/B testing. This intelligent automation eliminates all the guesswork and allows brands to test multiple variants based on ACTUAL consumer insights. AI has a knack for instantly understanding individual preferences. As a result, brands can focus more on context and cross-channel experiences.
Are you interested in extreme personalization? Does it seem a little daunting? Would you like to learn more information about it? Let us know in the comments below, so we can discuss!