Business

Why Personalization Is Key For Any Business

Why Personalization Is Key For Any Business

Today, simple good service isn’t enough. To get the best results as a business, each customer interaction must be a personal one. Customers wish to feel as if they are heard and not drowned out by the noise of a giant conglomerate. Why is it so important? There is no simple answer but many factors.

Made For You, Not The Masses

A personalized service is one that caters to the individual. Each client may have certain needs that are unique. Even if they are quite generic, personalization adds a nice touch to any product or communication. It can be anything as simple as a client’s name in your email newsletter or even a catalog. Some businesses create whole services or product lines specifically for VIP customers. It all depends on how far a business is willing to go.

Forbes and other leading publications have expounded on how important it is to businesses. Personalization is the new normal, not the exception. Companies that choose to invest in can often see significant returns. There are some incredible numbers here, so it is important to understand the trend.

Other businesses seek to personalize their services and create a cycle. The business environment demands personalization in search of greater returns. Large companies are at the forefront of this trend. Sometimes they’ve reached such expertise in the concept that its hard to even notice. Mastery of personalization looks effortless when done right. Amazon’s algorithm is notoriously great at providing personalized suggestions based on shopping habits. Most shoppers don’t even notice themselves adding items to their carts.

Big Names And Small Businesses Alike

Everyone knows that Amazon, Coca-Cola, Walmart, Facebook, and Instagram all use personalized technology. These titans all host troves of customer data. For some this stems from a long presence in the market like Coca-cola. Other newer firms like Facebook have built their business on big data. These vast data stores allow these companies to offer personalized discounts. Physical personalized products are also popular. Think of Coke’s named bottle campaign as a particularly popular example.

Giant tech corporations, such as social media have made this into a science. Personalized algorithms can direct users toward products or services in a subtle way. In theory, more time spent on a specific platform will give greater personalization. Music apps by Apple and Spotify rely on interaction with the app to generate recommendations. If you haven’t played any classical music, don’t expect any Mozart in your suggested playlist.

The largest companies can do personalization at every level. Yet any company can benefit from personalization. Implementing a few simple ideas into a marketing campaign can make large impacts. The most important thing here is consistency. With enough effort, applied over time, results will show. David Kezerashvili, the owner of InfinityVC, has shared some insights with us on the subject.

Kezerashvili and his firm InfinityVC believe in personalization at all levels. When advising one of his investees on marketing personalization is forefront. David believes that even the smallest detail can yield big results. As stated , personalized email greetings increase conversion rates by a significant factor. Every great marketer knows that getting in the door means knowing your customer. Many services ask for your name when subscribing to a newsletter. This technique is effective as many fill the form without thinking twice. Often later the customer is pleasantly surprised that you remembered their name.

Knowing your customer’s history is another important factor Kezerashvili tries to hammer home. Customers that can see previous positive interactions are more likely to buy again. David is quick to point out that analyzing history data is important. Without proper implementation, a customer might be reminded of negative past encounters. The best scenario can turn those negative encounters into positive ones. Offering discounts or other perks to these customers help turn the page.

Kezerashvili is not alone in his belief that personalization is the future marketing communication. He advises all businesses to get creative in their personalization efforts. Every sized business can benefit from knowing more about their customers and their needs.

About the author

Mike K. Watson

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