Artificial Intelligence in Education Market
Discover how AI is changing the mode of education! Explore market trends, benefits, and challenges in AI in teaching.
Create learner account
Personalized marketing is not a new concept. The practice of tailoring the message to better target the consumer is a tried and true marketing strategy. But while the digital world has made it possible to use ever more sophisticated methods of customization, a message that reads ‘Hey [First Name]! Are you in the market for pearl bracelets?’ doesn’t cut it any longer (if it ever did). Consumer demand for personal experience is on the rise. Three out of four customers want businesses to understand their individual needs and wants, and two out of three shoppers expect brands to anticipate needs. Over fifty percent of consumers expect every single interaction with a shopping site to be personalized. Thus, it should come as no surprise that many brands are spending over half their marketing budget on personalization. Nearly all (97%) of marketers who use personalization say that it boosts their bottom line. Personalization is the way of the future. But how do you personalize when it involves large and potentially diverse audiences? Keep reading to learn how to successfully optimize your marketing campaigns in 2023 and beyond.
Frustration at not being able to find what they’re looking for is a top complaint among consumers. Any business that wants to survive and thrive in today’s market must focus on some aspect of personalization in order to make the shopping experience a positive one. A digital world of constant ad bombardment combined with expectations of instant gratification means that irrelevant messages will be ignored and deleted without a second thought.
Hyper personalization involves integrating machine learning, AI, and real-time data. By combining elements of product and consumer data, algorithms deliver the most relevant products and services to shoppers. Hyper personalization means that no two visitors get the same customer experience.
Find a tutor for this topic
As impressive as hyper personalization sounds, holistic personalization takes it a step further, optimizing the shopping experience every click along the way. Data from online behavior, brick-and-mortar visits, and even telemarketers are integrated to create a one-of-a-kind experience, anticipating the customers’ every need and desire. Benefits include more relevant marketing leads and a more positive experience for customers, leading to repeat business as well as stronger customer loyalty, all adding up to an optimized return on investment (ROI).
There’s tons of data out there, but how do you use it to your advantage? One of the challenges of working at scale is teasing out the relevant information. Begin by organizing your data. Too many businesses keep sales figures in one spot, browsing info in another, and abandoned cart details in yet another. By unifying your consumer data, you can make use of it in real time, getting more value out of it, and in turn offering your customer a better shopping experience. This is known as a single customer view.
A database that contains purchase history, site visits and activity, other customer interactions, and past product or service recommendations are the first step in creating a curated experience for your audience. Customer data is of course essential, but it’s only one piece of effective personalized marketing. For maximum ROI, customer details must be combined with product information to create commerce data. An example of this is taking a customer’s clothing size and cross-referencing it with product availability. Add in the customer’s browsing history and prior purchases and you have a personalized experience. A customer data engine unifies your information, allowing you to hit a marketing home run more often.
Automation is a must-have for scaling personalized marketing. Automation takes over repetitive tasks, freeing up time and (human) brainpower which in turn improves productivity of everyone on staff. Examples of automation include an automated welcome, product recommendations, abandoned cart reminders and win-back programs. Machine learning and artificial intelligence are only getting more sophisticated and smarter every day, and they will be an essential component of marketing moving forward.
Customers expect to be able to have the same experience no matter where they shop. This means that another essential component of personalized marketing at scale is that it must provide a unified, seamless experience across all platforms, including mobile, desktop, email, social media, and even brick-and-mortar. With omnichannel strategies in place, real-time prompts take the consumer on a custom-tailored experience that will offer higher conversion rates.
The right software is essential for personalized marketing at scale. Just as there is no single one-size-fits-all message for your customers, the right software will depend on your business needs. There aren’t quite as many programming choices as there are businesses, but there are still plenty. Some options include:
These are just a few examples of what’s out there in personalized marketing software. There are many more worth looking into, as well as the untold number being developed every day.
Customers want to feel understood and valued. When they do, engagement and loyalty soar, and the very best form of marketing, word-of-mouth, also increases. Happy customers are returning customers, and positive reviews from trusted sources are marketing gold. Customers want and expect a personalized experience, and any business that wants to succeed must take notice. Do your research, find the right software for your needs, and leverage the best AI has to offer. It may take a little trial and error, but when it comes to your bottom line, it is well worth the effort.
Are you a robot?