Nowadays, simply providing a service isn’t enough. To increase their chances of success, businesses should try to customize and personalize the user experience.
But what exactly is a personalized customer experience, and why is it so crucial? Well, it’s a question I frequently get from both large and small businesses, so I’ll share my personal thoughts on it in this article.
The concept of personalization mainly refers to producing and designing services that meet customer’s individual requirements. Everything from using their first name in a newsletter, and all the way to developing a new range of products for a certain customer niche, fits into the personalization area.
According to Monetate’s study on personalization development conducted in 2019, 93% of the companies that applied an advanced personalization strategy saw consistent revenue growth. As a comparison, only around 40% of companies without such a strategy saw comparable growth. In this article, I will explore more advantages of offering a personalized customer experience and look at some companies that excellently apply the concept.
Examples of effectively using a personalized customer experience
Big companies like Coca-Cola, Netflix, or Facebook are experts at delivering a customized experience to their users. However, you don’t have to be a giant to start with personalization services. As demonstrated by InfinityVC, a digital solutions company run by entrepreneur David Kezerashvili, success can be reached through a series of calculated steps.
As mentioned earlier, customization of your user experience can start with the simple fact of using their first name in an email. Actually, over 50% of customers and clients would use the services of a company that knows their name. An even bigger percentage, 65% of clients will choose a company that knows their purchase history and has a detailed overview of previous interactions with the company. The latter also translated into knowing what a client would want for future collaborations and being able to recommend the services that would fit them perfectly.
InfinityVC offers all these for companies that want to work on their customer experience and achieve a truly personalized interaction with end-users. Not only that it will act as a sales booster, but it will also create loyalty, and improve the company-client relationship.
Efficiency and transparently use of data
The ability to personalize effectively is directly connected with the amount of data you are able to obtain.
In order to be successful, no matter if we’re talking about personalized customer experiences or not, a company needs to invest in Business Intelligence and Visualization. Through progressive profiling, using AI for marketing automation and data collection, or simply asking customers what they would like to receive in terms of marketing, data needs to be gathered efficiently.
A good example of using client data effectively to build a personalized experience comes from EasyJet. The British low-cost airline marked 20 years of activity with a rather curious approach to the newsletter they sent. Instead of making it about themselves, they chose to send emails to their regular customers and create a sort of review for each and every one of them. By including things like the very first flight using the company, the total number of kilometers flown, or the number of countries visited, and adding a suggestion for the next trip, EasyJet managed to set a great example of how customization really works.
Bottom line about personalizing the customer experience
It’s obvious that a personalized experience brings in more results than just treating every customer the same way. It’s what happens when you use specialized fishing tools for the type of fish you want to catch versus just throwing a huge net in the water. However, most companies fail to achieve proper personalization because they either don’t have the BI tools or workforce to use the data to their advantage. And since there’s no magic button to press and immediately have the recipe for a personalized experience, companies like InfinityVC can bring the needed know-how.
After all, succeeding in business is also about choosing the right approach and partners, besides having a great idea. And with the huge potential for revenue generation brought by a personalized customer experience, coupled with the proven success stories and demand from customers, every company should get on board.