Future of Hyper-Personalized Communications-1
The corporate world is increasingly concerned about the future of hyper-personalized communications. Influential consulting giant Gartner predicts that by 2025, the risk of poor return on investment (ROI) and customer data management will force 80% of invested marketers to abandon them. It goes on to cite emerging regulation, with consumers and technology companies increasingly distrustful of setting up tracking barriers, as a further contributor to personalization’s imminent disappearance. However, there are some solutions to these problems.
The value of data continues to increase
Data is critical to personalizing communications, but for businesses to use it effectively, they need better ways to realize its potential. Today, that means analyzing it using advanced technologies such as artificial intelligence (AI). These tools provide meaningful insights that enable companies to develop communication strategies for customer engagement, provide precise targeting, and end-to-end customer journey mapping, and achieve cost-effectiveness when employing the most appropriate communication channels.
For any company looking to adopt hyper-personalization, having a holistic view of the customer is critical. However, this requires breaking down operational silos between different departments to bring all the data together. It also requires an intelligent platform that provides absolute visibility across all consumer touchpoints. This provides an omniscient understanding of consumers, allowing brands to deliver enhanced customer experiences and drive lasting value.
A key feature of hyper-personalization is omnichannel communication. Its importance lies in its ability to ensure that all interactions go through the customer’s preferred channels, such as print, email, SMS, and app notifications, as this increases the likelihood that any message will be seen and acted upon by the customer on time.
If your organization has successfully implemented OpenText Exstream’s CCM solution, then you are already on the path to customer success. However, as your company evolves to adapt to changing business and regulatory environments, you may find that maintaining and supporting the solution cumbersome (and costly). If you are currently facing any of the challenges described in this article, please get in touch at email@example.com or Contact us.
Overcoming Communication Challenges
Although personalization accounts for 14% of marketing budgets, more than a quarter of marketing leaders see technology as a major barrier to its adoption. Hence, the increasing need to implement a personalized communication strategy puts companies in a bit of a bind, as a smart technology-led approach is often required.