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Can you get personalization right?

In our latest GDS Video Snack, Sasha Qadri, Editor at MeetTheBoss TV looks at how companies can maximize their data use to create a compelling customer experience.

When you look into the stats on personalisation you can find the whole spectrum of what we, as consumers want. It ranges from 31 percent of consumers being pro-personalisation to as high as 75 percent. That range probably reflects the fact that, like businesses, consumers are trying to work out what they want on the personalisation spectrum. A little bit is fine, repetition is annoying and too much is too creepy. It’s like getting to know someone. You don’t want to be stalked. 

At the root of it all is Big data. Companies have stacks of data and they are trying to use it wisely. Caroline Wouters at Wolters Kluwer sees it like this:

 

“I think that data is very important. I do think that facts and insights are extremely important. In the end, it is about the relationship with the customer – between the organization, between the individuals in the organization and the customer. So, I think that’s also what you hear a lot in conversations – it’s about content marketing, it’s about data, it’s about insights. But now, people are also talking more and more, “How can we build that emotional relationship? How can we keep that as larger and medium sized companies?”

 

The emotional relationship. So crucial. It will develop, as companies get better at using their data. According to Gartner, the key to making sense of big data and enhancing the personalisation – read customer service – comes down to advanced analytics. But they have found that’s currently limited to less than 10 percent of organisations.

 

So we all have to slow our expectations down. Advanced analytics will make smarter data analysis and hence better personalisation possible. But it’s a way off still. So, maybe get used to the stalking for now.

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