Always Relevant for Every Customer: Improve Loyalty and Customer Satisfaction

April 18, 2023

Why is personalization relevant for travel and leisure?

A satisfied customer is a customer who stays. But how can you achieve this as a retailer or e-commerce company? How do you remain relevant to the customer? The answer lies in first-party data, directly derived from your existing customers. Use that data to offer a personalized experience every time, and you will improve customer satisfaction. And thus, you will also improve the loyalty of your existing customers, acting as a catalyst for customer lifetime value.

Think back to your recent contact with a company. How did it go? Did you feel like the company genuinely cared about you? Or were you just another number, one of many customers in line? In the latter case, you may have wondered why you even ended up with this company. You might have even considered going to a competitor next time, where they hopefully communicate with you personally.

Personalization is Timeless

Sound familiar? You’re not alone. Research by McKinsey & Company shows that 76% of consumers are more likely to make a purchase from a company that uses personalization. That’s because that’s what the customer wants and expects. Not just now, in the digital age, but even before that. The seller in the physical store made sure to know his customers. He knew their preferences, remembered what people bought from him the week before, and tailored his conversations accordingly. The way he did it? It was customized for every customer, distinctive, and unique.

Segmentation: A Good Step, But Not Enough

Personalization: it is the foundation for a successful business. Therefore, companies are investing in it, even digitally. A large portion of retail and e-commerce companies work with segmentation. The entire target audience is divided into an average of ten to fifteen smaller groups, each with its own customer journey for every type of customer. This makes the interaction more personalized, but still not personal enough for a dialogue with the customer. After all, with segmentation alone, you cannot move towards individual customer bonding, which requires a frictionless customer journey – and thus hyper-personalization.

Hyperpersonalization: This is The Moment

As the business magazine Forbes has stated, no retailer or e-commerce company can avoid hyper-personalization. The necessary technology, intended for interpretation of customer data and based on artificial intelligence (AI), is now accessible to everyone. So, the question is: what’s stopping you? With hyper-personalization, your organization can work more concretely towards its own strategic goals. All of this is possible because relevance weaves like a red thread through the customer journey.

Strengthen Your Bond With Your Customer
Imagine yourself in the shoes of your existing customer who always receives an offer that perfectly matches their needs. Every time, through their favorite channel, at the right moment. Think, for example, of offers during an online order at a restaurant, tailored to the customer’s taste. Or extra recommendations for additional products, just as an online order is about to be completed. Instead of irritation from a generic offer, the consumer feels understood and assisted by you. This leads to increased customer satisfaction, loyalty, and a boost in conversions.

Don’t Fall Behind, New Opportunities Are on the Horizon

Did you know that as many as 89% of digital organizations are currently investing in personalization? They’re also investing in AI, as the next step towards true one-on-one personalization at scale. So don’t wait and fall behind your competitors, but dive into the opportunities of personalization with AI today. For example, with our whitepaper where we explain why as a retailer or e-commerce company, you cannot ignore hyperpersonalization. You’ll also discover how organizations such as Bookit, Sligro, and DESTIL achieved success through the use of AI. You’ll see, the opportunities of hyperpersonalization are closer than you think.

Inspired and ready to get started with an AI Decisioning Engine?

Are you curious about how your data can be used for a personalized customer journey? You’ll learn more about it in our product guide. If you’d rather speak directly with one of our experts to see what’s possible for your organization? Request a free demo now.