In the age of the customer, personalization is imperative for enterprises. Businesses are introducing personalization at various stages in the customer journey to build better customer relationships.
Independent of industry, customer experience personalization remains a game-changer for any business. Personalization is seeping into more subtle and deeper aspects of customer experience today. Statistics show that companies can record up to a 20 percent increase in sales from personalized interactions.
Enable customer experience personalization on all channels
The growth of Internet of Things implies that customers are becoming hyperconnected with brands across a variety of channels. This presents a massive opportunity for businesses in all industries to interact with their customers through new platforms.
However, this interconnected nature of customer with mobile devices and platforms also presents a challenge for businesses to connect effectively with a diverse customer base.
The success of businesses in this digital era would lie in creating personalized experiences and delivering them consistently through different channels of engagement such as social media, web, mobile apps, and wearable devices.
Analyze customer data to provide personalized experiences
Personalization goes beyond demographics, age, and location. Today, brands need to focus more on persona based communication. Market segmentation is a good starting point for any company venturing into personalized experiences.
Popularity of social media, wearables, and other connected devices has led to a surge in customer data available with companies. This data can be integrated, studied, and analyzed to provide personalized experiences based on user interests and buying behavior.
Customers today are ready to share their data and provide feedback for a more personalized experience. When you garner feedback from your customers, it’s important that you give them an update on the same.
Earn more with personalization
Today, customers are expecting brands to deliver personalized content, products, and services. It’s beyond personalized recommendations now – customers even want companies to allow them to create their own products and services to their liking. And they are willing to pay more for those. Businesses that are missing the opportunity to personalize customer experiences are not only compromising customer loyalty but are also leaving money on the table.
Your 4-step action plan
1. Collaborate with customers
If your enterprise is planning any kind of customer experience transformation, it’s important that your existing customers find that exciting. Aim for an honest relationship with your customers and deliver superior products or services. Engage pilot customers early on in your journey to learn about their interest and gather feedback on different personalization approaches that you have planned.
2. Turn into a customer data-driven company
All enterprises collect customer data. But only a few of them leverage it to make business decisions. Keep customer experience at the core of your data strategy. Learn about customers’ sentiment and gather their opinions, but take measures to not become too intrusive.
3. Integrate sales, service, and marketing
Consistent customer experience spans all directions. Aim for a connected experience across all channels throughout the customer journey. Provide a holistic picture of your customers across all touchpoints and use data from previous interactions to personalize the customer experience.
4. Course-correct your CX
In achieving customer experience transformation, you must ensure that you add the necessary agility to customer engagement channels. Observe and interpret customer responses, and be ready to adapt to the changing customer habits. Realize that personalization needs continuous efforts in order to maintain relevance in all customer interactions.
Is your business ready for personalization?
Studies show that customers are ready to use personalized offerings, but businesses fail to deliver. According to a study by Accenture, 75 percent of customers are more likely to purchase from a business that either recognizes them by name, offers relevant recommendations, or remembers their purchase history.
At Savantis, we are enabling personalization with a 4th generation CRM – SAP C/4HANA. As an SAP Gold Partner, we have worked closely with some of the industry leaders to help them gain a competitive advantage through digital transformation and customer experience personalization.
With SAP C/4HANA, you can leverage the power of shared data, break down silos, and open opportunities for improved customer engagement, better experiences, and long-lasting relationships. Get in touch with our experts for a free consultation on how your enterprise can leverage the power of SAP C/4HANA.