With user segmentation, marketers have been able to categorise customers into groups or further subgroups for targeted communication. Personalisation takes this a step further by personalising individual customer experiences, thereby helping to increase each customer’s lifetime value.
The use of historical data-based approaches (machine learning or algorithms) for personalisation in business has increased from 26 percent in 2018 to 40 percent in 2019. Businesses that implement personalisation have seen a 59 percent increase in customer engagement and a 61 percent increase in conversion rates, as well.
Sixty-three percent of customers expect personalised service and say they are frustrated when companies fail to genuinely personalise their offers. This is why companies can no longer expect the results they want if they are still sending generic communication and providing generalised services.
Businesses that understand this focus on providing unique or customised products and services. They also empower their customers by giving them more options to choose from. Good examples include Facebook “listening” to what posts people engage with and McDonald’s secret menu items.
The talented team at EonX can work with your business to deliver a personalised customer or member experience, designed to suit your business’ key objectives. Drop us a note, and one of our specialists will be in touch.