Decoding how brands can achieve personalization at scale, Marketing & Advertising News, ET BrandEquity

Decoding how brands can achieve personalization at scale

A few years ago, a promotional email sent with a customer’s name was the epitome of personalization, but not today. Today, customers expect much more. Customers share personal information during onboarding and expect brands to map their journey, anticipate their needs, and create hyper-personalized solutions. Creating this type of experience gives brands a competitive edge and helps build customer loyalty.

ETBrandEquity, in association with CleverTap, has launched – “The Big Leap”, a large-scale campaign in the customer loyalty space to discover the tools and technology Indian digital pioneers are harnessing to create loyalty solutions – solutions that keep customers hooked to brands and nurture a larger community of loyal customers.

After completing three successful roadshows in Delhi, Mumbai and Bangalore, “The Big Leap” campaign returned to Delhi on July 7 for its fourth roadshow, which began with an insightful presentation by Radhika Shukla, Head Subscription Growth & Analytics, TOI+ , Internet Times .

Shukla shared that only 20% of their stories drive 80% conversions on their app and explained their process for personalizing their messaging. They first invented a retention and acquisition dashboard for each piece of content, then they used those dashboards to create dashboards on CleverTap that tracked the real-time positioning of their communication. Mark. “Building the right user value proposition takes a lot of time and experimentation. To do this, brands need to focus on the data available to understand audience sentiment,” Shukla said.

The presentation was followed by a panel discussion on “Creating Hyper-Personalised Customer Experiences”. This session included industry leaders such as Santosh Navlani, COO, ET Money; Anil Nagar, Founder and Managing Director, Adda247; Milan Sachdeva, Product Manager, Asianet News; Vikrant Chowdhary, Chief Growth Officer, CleverTap; and Vinod Bhat, Chief Information Officer, Vistara Airlines (Tata SIA Airlines Limited). The session was moderated by Ashwini Gangal, an independent editorial consultant.

Personalization is not a new concept. Brands understand that hyper-personalizing their offers and communications to individuals helps with conversion and retention. Hyper-personalization is simply personalization at scale, and brands need to use their data and continue to evolve their strategies to deliver more 1:1 customer experiences.

Hyper-personalization is certainly not an easy task to achieve but must be an ultimate goal for organizations. Bhat said, “Technologies like ML and AI are available which can help in slicing and dicing data to understand customer behavior in real time and then push the right communication to those customers,” said Bhat.

Personalization for regional audiences

On the other hand, when brands reach out to their regional customers, they need to communicate in their local language to establish a strong connection. Nagar shared that the vision of Adda247 is to create a level playing field in the education sector by going deep and serving people in the villages. He evokes the different challenges that await them to decipher the customer journey and the needs of non-metropolitan users. “Personalization plays a key role for rural audiences, as audiences in these regions prefer to interact in their regional languages ​​and need guidance on their journey,” Nagar said.

Leverage data-driven insights

The key to creating hyper-personalized solutions for customers of any category or demographic depends on the brand’s ability to decode customer data. Today’s advanced data technologies allow organizations to use their first-party data to create in-depth customer analytics and better understand their preferences and behaviors. Chowdhary explained how data plays a vital role in customer retention. “If brands know more, they can do more. Data granularity can help brands reach segment one,” Chowdhary said. He explained that with CleverTap’s proprietary database technology known as TesseractDB™, brands can store up to 10 years of data to help them make informed decisions.

However, as brands use customer data to deliver personalized campaigns, privacy issues arise. Navlani noted that brands need to determine the level at which they will use first-party data to target the customer. “When it comes to hyper-personalization, there comes a time when brands need to draw a line. And here relevance and context become important, so as not to be intrusive to the customer,” Navlani said.

At the end of the session, all panelists agreed that to win in a customer-centric world, hyper-personalization of the customer experience is extremely important to achieve lasting loyalty and increased revenue.

For more on The Big Leap – Rise with Retention Roadshows, go here:

https://brandequity.economictimes.indiatimes.com/news/industry/cracking-the-code-on-how-organizations-can-rise-with-retention/92540782

Brand Connection Initiative

Marilyn J. Hernandez