Reality of Personalization, Part 2: Meeting Consumer Expectations For Deep-Level Personalization
In part one of the Reality of Personalization - Defining personalization, we reviewed customization and collaborative filtering techniques. We also provided a high level overview of 1:1 real-time personalization, which involves sophisticated real-time updates of customer behavioral profiles. Click here to read part 1.
Today’s connected consumers are savvy shoppers. With all the avenues available to retailers for engaging them, keeping customer attention, building loyalty and driving sales has never been more competitive. Personalization, once a nice to have, is now a necessity and consumers are demanding increasingly deeper levels of personalization by giving their business to companies that go beyond the basics, to deliver more individualized shopping experiences.
We’ve all been there, searching for just the right product only to be inundated with a barrage of irrelevant search results and recommendations. What do we do? With so many shopping options at our fingertips there is no need to dig, we just move on to the next site. Deep-level personalization sifts through the sea of available products to deliver only the most relevant recommendations, keeping shoppers on your site, engaged, more likely to convert and return.
For businesses seeking to gain a competitive advantage and optimize revenue it is important to understand not only the functional requirements for true personalization but the right degree and combination of these that will achieve the individualized shopping experience that only deep-level personalization can provide.