How customer expectations and interactions have evolved in the last couple of years
How brands have responded to the change in customer expectations and interactions
Use-case of Retail and BFSI brands building insights-led engagement with personalization efforts
Steps for creating engagement methods that provide personalized experiences today
In the physical era, brick and mortar stores dominated interaction, while in the digital era, online channels took center stage. Today, in the phygital era, customers interact with both offline and online channels.
Both preferred online engagement channels in the physical era. However, a shift to digital channels became inevitable in the digital era. Today, the phygital era sees Gen X preferring traditional channels for a few activities while millennials digital channels for majority of the activities
Mass email marketing dominated the digital campaigns in the yesteryears. Today, the scenario has completely changed. Digital campaigns personalized to each customer are preferred and desired. Customer data is playing a critical role in driving that personalized customer experience.
According to our recent study, 52% of brands are investing more in their martech stack to drive personalization, while 39% are investing the same amount they invested in the previous years.
According to the survey, 1 in 2 brands is investing in personalization to enhance the customer experience.
While insights help brands connect disparate customer data points and convert them into actionable items, modern engagement platforms go one step further and help you gain the desired engagement by:
MoEngage lets you analyze, segment, personalize, engage and optimize all your campaigns with its omnichannel engagement solution. Using the engagement platform, brands can leverage multiple channels for specific customer segments and provide personalized recommendations based on the analysis of personalization trends.
With MoEngage User Path Analysis, you can get a bird’s-eye view of customers' different paths, dig deep into the steps they take from one activity to another, and all gaps in the customer journey. This way your brand can develop personalization strategies to win loyal customers.
Using dynamically personalized content in your campaigns helps each email or push notification to feel like a personalized 1:1 engagement with your end customer. As a result, for every single customer, your brand can create a segment of one and provide personalized marketing to existing customers.
What do you mean by personalization
According to Gartner, personalization is “a process that creates a relevant, individualized interaction between two parties designed to enhance the experience of the recipient.”
What are the different types of personalization
Different types of personalization include:
Event + user personalization – based on a specific customer segment with specific event trigger.
What are the benefits of personalization
The state of personalization report will help you understand the benefits of personalization strategy across a customer journey across different industries. Download the personalization report here.
How does the State of Personalization report help?
This State of Personalization report provides an in-depth analysis of how personalization campaigns can help companies improve their digital customer experience across desktop and mobile devices. From relevant messaging that delight customers, the state of personalization report help balance personalization across customer journeys. The report also gives actionable insights into what most consumers want as digital experiences across their purchase journey.
Why is personalization important for customer engagement
Using personalization capabilities, consumer brands can understand the behavior of a customer in terms of their affinities and activities.
With the assistance of this information, brands can craft a better customer journey that is specific and relevant. This can lead to better customer engagement and in turn, help in retention.
Why is personalization important in 2023
No longer an option, a personalization strategy carries on as a core expectation for the customers. Brands not following the personalization trends risk losing revenues or customers.
Mckinsey through its report found that personalization boosted performance, improved customer experiences and increased loyal customers base during its analysis. In addition, companies whose growth rate is faster generate 40% more revenue through personalized messages and services compared to slower-oriented rivals.
Leveraging personalized insights from customer data platforms helps establish customer loyalty and customer relationships.
What are the challenges in personalization and how to overcome those
In order to create a personalized experience for your customers, you need to have access to their data. Customer data is the key to understanding what each individual user wants and needs. And it’s essential for powering marketing personalized service.
Some of the biggest challenges in personalization today are:
In many cases, brands will have plethora of data points. However, some may not be relevant or some of the data may not outdated or incorrect. This often leads to a bad or incorrect personalization solution.
As companies strive to create a more personalized experience for their customers, they are also facing new challenges when it comes to data privacy and regulations. The cookie less features will definitely give sleepless nights to many brands especially whose end-users expect personalization throughout their customer journey.
What is omnichannel personalization strategy
Omnichannel personalization is the practice of creating personalized experiences that are informed by real-time data from all channels and extending them across every touchpoint, to build consistent relationships everywhere they interact with the brand. This allows the brand to build customer loyalty.
What helps - an customer data platform or engagement platform that offers predictive personalization
If you want your marketing efforts to offer a seamless experience to your new customers and existing ones, an engagement platform like MoEngage that helps to identify personalization opportunities, increase engagement, and also help increase conversions is a much better bet!
MoEngage currently has empowered more than 1200+ businessses and marketers via segmentation, customization, web and push notifications tailored to the customer’s personal needs, and analytics.
