We can now order a pizza, call an Uber and manage our finances with just our voice. Unsurprisingly, companies are struggling to keep up with our increasingly unrealistic demands. But, could the digital silver bullet be in the form of real-time personalization?
Advances in AI and machine learning is starting to make this an incredibly appealing concept for marketers. Customer data is frequently scattered across disparate sources. CRM systems, email platforms, data warehouses and point-of-sale systems are just a few examples. If an organization could put all these pieces of data together, they would have access to the story behind the entire customer journey.
The award-winning cloud-based platform Evergage currently delivers real-time personalization to more than 1 billion web visitors. Standing out from the crowd with a solution to the buzzword on most marketer's lips is helping both this startup achieve tangible results.
Improving customer engagement and growing sales in real-time along with personalized product or content recommendations is now a reality. Evergage's new data hub is aiming to achieve this by aggregating information from all systems to deliver a holistic view of all customers.
As users, we no longer respond to generic marketing campaigns from a "Do Not Reply" email address. We now expect retailers that are relying on our custom to understand that each and every one of us is unique.
Businesses that can provide relevant experiences and recommendations across multiple channels are already gaining a significant advantage over their competition. The Evergage data hub achieves this by synchronizing customer information across systems for a comprehensive real-time personalization.
Capturing behavioral data is incredibly valuable when creating a single view of each customer or account. It's also important to remember that the use of tools such as Evergage benefits consumers themselves along with marketers.
Real-time 1:1 personalization involves deep behavioral analytics on customer data. Ultimately, the aim is to increase engagement and conversions of visitors and users.
As customers, we expect and are even starting to demand more personalization. The big question is will it actually make consumers buy more? An increase in customer engagement is a huge step forward for any organization, but many leaders will be more interested in the ROI of this technology.
There is an argument that the financial benefits of short-termed personalization in comparison to the long-term improvement of customer value is still not fully understood. Equally, as we head into unchartered waters, we should not undervalue the benefits of delivering a dynamic user experience.
In many ways, this feels like a watershed moment. Relevant digital experiences and interactions are being tailored towards each unique individual across the digital landscape. Companies such as Evergage are merely setting a standard for others to aspire to, but also raising the bar of customer expectation at the same time.
The age old advice of "Give the people what they want" has never been more relevant. The harsh reality for many business leaders is that they can no longer bury their heads in the sand. Personalization is not optional for anyone wanting to capture the attention of an always online and mobile audience.
I chatted to CEO and Founder at Evergage, Karl Wirth about this latest trend on my podcast. Increasing engagement and conversion of digital visitors could be just the beginning for real-time personalization based on deep behavioral analytics.