From Personalization to Individualization
There was a time marketers were really upbeat about personalization. Although, personalization is a very broad team and makes us believe in a whole gamut of wonderful things that marketers would be doing for their customers to make the experience up-close and personal, the intimacy in reality, is a hoax. Apart from a select few companies, marketers have been doing joke of a job when it comes to one-to-one marketing or personalization. The only personalization in a mass mailing list was the name, rest all being the same. Discounting and believing, that these marketers were willing but unable, one can consider that there wasn’t much customer information available also. Mostly customer information was based on mass surveys and generalized assumptions for a particular target group.
But things are different now. Now marketers can actually know their customers and know them beyond just their name. Customers are leaving data trails all over interaction points. There is enough data and there are apt tools to correlate that data. What companies need now is the strategy for data-driven marketing. Companies, keen on providing meaningful marketing experiences to their customers, need to define the following:
- The process of gathering customer information from different customer touch-points and storing it in a central repository.
- The tools that will help turn customer data and customer information into customer knowledge.
- The strategy that will optimize this customer knowledge into a meaningful, truly engaging and enriching interaction.
In the digital era, customer information is spread all across – in-store, online, app, customer helpline and every window that the company has. Thanks to mobile commerce, companies can also have access to detailed profiles of customers including information of their buying behavior, social group etc. Then there are technologies like geofencing that help companies understand the geography dynamics of the customer. Finding information is not a big deal, the real challenge is weaving a strategy around that information. The key to success in this hi-tech era will be adding human touch to this hi tech information and creating optimized interactions which are individualized and not just personalized.
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