Using Technology to Hyper-personalize Products and Services
The customer has always been king but is even more royal today
If you’re an innovative, customer-focused organization, delighting and retaining your customers is probably on top of your daily to-do list. Without a doubt, devising unique customer propositions to offer them is something every organization would like to master. Still, this is often a complex and elusive process that few businesses understand or have the tenacity to carry through.
Advanced personalization, also referred to as hyper-personalization, is the process of customizing product and service offerings to match specific customer or user profiles more closely. Hyper-personalization includes a wide range of strategies and activities, from using customer names in email communications to devising truly unique experiences that match their specific profiles, needs, and goals. By consistently and reliably mastering this process, organizations can gain and sustain a tangible competitive advantage over their less consumer-centric counterparts.
Getting to know the king
To be able to offer meaningful hyper-personalization of product or service experiences, you first need to know what your target audiences expect. Through conducting research studies, testing, and studying prospect and customer behavior, you can gather useful data about who they are, what they are looking to achieve, and why/how they interact with your product or service. Sometimes the amount of data you can collect is vast and overwhelming – making sense of it is difficult – let alone acting on it. This is where technology can step and help you figure it all out.
Responding to the king’s needs
Once you have a better understanding of your customers’ needs, goals and aspirations, you are in a better position to identify the kind of hyper-personalization that would make a lasting impression on them. Do they care about the product’s packaging or is it irrelevant? Do they appreciate reminders about a repeat product purchase or their next service visit? Do they want to know about additional products and services that are suitable for them? Do they need help and advice when first using your products? What are some features that can be customized to a specific user profile, so that using your product or service is easier, more pleasant or more beneficial?
Hyper-personalization of products
E-retailers today can readily benefit from web software that not only analyzes user browsing behavior but also customizes the selection of products users see in real-time. This is the perfect example of immediate, responsive hyper-personalization, which takes into account every scroll or click of the mouse in shaping customized product recommendations.
Hyper-personalization certainly isn’t reserved to e-commerce companies and can help physical retailers reap similar benefits. Even if consumers aren’t shopping online, they’re still researching products through retailer websites before visiting stores. When they do this, they readily indicate what they are looking for – this data is accessible and highly valuable.
Data-forward companies use all touchpoints to collect insights about their prospects or customers – so that next time they interact with them, they can offer true value and add that essential personal touch. In industries that sell commodities and customization is low to non-existent, this strategy can be a true differentiator for a company whose products don’t stand out from the competition.
Hyper-personalization of services
When it comes to the service industry, hyper-personalization has always been key to customer satisfaction and loyalty. Today, technology makes this process easier with the help of CRM, marketing automation and e-marketing software. Not only can these apps help you keep better track of customer service history and preferences, they can also allow you to cross-sell, upsell, and drive repeat business.
Today, many modern enterprise marketing and CX apps incorporate AI and machine learning, which are game changers when it comes to mastering hyper-personalization. The more sophisticated the AI, the deeper the insights, and the more plentiful opportunities for you to cease more business, while also delighting your customers – a win-win scenario.
Getting started with hyper-personalization tech
Like the process of building your customer experience (CX) strategy, mastering hyper-personalization is a complex and time-consuming undertaking, which involves a certain amount of trial and error. The following questions can help direct you; afterwards, you’d need to find a reliable technology partner to work with on implementing the strategy, along with introducing the right systems, apps, and policies:
- Can your product or service be customized or personalized to fit specific customer needs?
- What kind of customer insights do you need to be able to personalize your offerings? Is some of this data already available? If not, how can you obtain it?
- What kind of production, logistics, or sales force modifications do you need to make in order to hyper-personalize your product or service offerings? Do you need to make any capital investments?
Once you have discussed these considerations internally, it’s time to start interviewing potential tech partners to help you make it all happen. The Pegus team would be happy to have a discussion with you about your approach and help you find the most suitable tech stack.
Contact our team for a discussion today!