Experience smarter personalization

Companies struggle to turn the data they have into
experiences they aspire to deliver to fuel customer
loyalty, trust and growth.

A recent global Forrester Consulting study commissioned by IBM assessed companies’ personalization strategies and consumers’ perceptions. The study painted two different pictures of the personalization experience: companies believing they’re doing well and consumers feeling something was left to be desired. 90% of firms said personalization is imperative to their business strategy. However, only 39% of consumers surveyed reported receiving relevant brand communications.

Yet even with flawed execution, organizations are seeing success, an indication that the potential is exponential if done right. Firms surveyed reported seeing improvements across almost every metric, including net promoter scores (NPSs), average cart size, and order frequency. And on top of those improvements, they realized a 33% increase in customer loyalty and engagement, a 6% increase in sales revenue, and an 11% decrease in marketing costs. Forrester Consulting analyst, Brendan Witcher, commented on the opportunity to deliver a differentiated experience through personalization, “It’s only personalization if you get it right.

Otherwise, it’s just marketing. You can’t check the box on
personalization unless you get it right by your consumers.”