The digitization wave is even greater than the internet. The exponential growth spurt of technology advancements, increased consumer power and greater competition means that all industries face the threat of commoditization. Those who wish to emerge as winners, will act now, build marketing strategies, and implement next-gen operating models that would leave their counterparts in oblivion.
But marketing isn’t hard work, but what precedes it is however, difficult. When there is a product or a service that is created to solve a problem, marketing it becomes a lot of smart work. So, in this age of excess, how do brands ensure that their target audience notices them? How do you get there?
A good starting point is to have a personalization tool. Why? Because,
- 86% said that website personalization influenced what they purchase to some extent, a figure that includes 25% who said that personalization significantly influences what they purchase
- Personalized coupons (67%) are the most highly favored form, followed by personalized offers and promotions based on previous experiences (62%) and product recommendations based on previous purchases (58%)
- Almost a third of the surveyed shoppers wish their shopping experience was even more personalized than it currently is
- 51% were in favour of personalization for health and beauty; 50% for electronics; 47% for clothing and 41% for furniture, gardening and do-it-yourself.
Still need reasons? Here’s some more:
5 reasons why you need AI led personalization tool
- To understand consumers’ needs and wants at a much granular level: AI led personalization tools have completely changed how marketers generate insights about consumers. Linking data generated from social profiles, movement of the consumer, weather, behavior, etc. AI has led marketers understand their buyers’ wants and demands at a much granular level.
- To capture customer behavioral pathways at each stage of buyer’s journey: A digital customer will look for inspiration, then information, before finally seeking the best value for the given service or product. An AI-led personalization tool will allow you to tailor interactions according to each stage. These digital channels would then be used to create seamless and consistent messages.
- Interactions only through customers’ preferred channel: Not all customers are keen on being swamped by messages from any brand. They prefer interactions to be offered through a particular channel if not more – be it app, email, social media or even video. The personalization engine allows you to choose these channel preferences. The algorithms can then phase out consistent and relevant offerings to the customer across his decision journey and in his favorite channel.
- Life events and social contexts: AI-led personalization tools are capable of looking into various episodes of a customer’s life and behavior during seasonal event like Diwali, Christmas, etc. Analyzing this information enables the tool to send recommendations based on events and previous product purchase history.
- Scale without any limitations: The consumer’s demands are dynamic. The tool used to market to such a dynamic set, therefore, needs to be able to consider this dynamism. AI enables understanding, reasoning, learning and then adapting insight, which means that each marketing initiative is personal.
- Personalization payoff is massive: The need to integrate personalization in your marketing is no-more a nice-to-have, but a need-to-have. Companies who have adapted to this digital transformation are already reaping benefits. For being able to predict and offer relevant experiences as, when and how the customer wants, is far more profitable to the company’s bottom line than acquiring and cultivating new ones.
- Real–time discounted offers: With a personalization engine, you can now offer your customers different discounted offers in real-time, based on various factors.
- Engagement across all stages complete customer lifecycle: Using an omni-asset approach — featuring content, images, products, videos and more — marketers can reach each customer with personal and engaging communication at every stage of a customer buying cycle.
Imagining the future with AIDA
Now that you have understood why you need an AI-led personalization engine to take care of your marketing, take a peek at AIDA. If still thinking of how to break through the clutter, talk to us here and we will help you right away.