siliconindia | | AUGUST 20228In FOCUSA NEW ERA OF HYPER-PERSONALIZATION Nowadays, organizations are actively and consistently working to create hyper-personalization. Due to the extreme personalization done in real-time, the brands that want to grow, compete, and succeed are sitting up and paying attention. Organizations have seen the vast opportunities in this new reality that hyper-personalization presents. IDC claims in the future of customer experience, the relationship between customers and businesses will be built on cognitive empathy­ requiring business leaders to make strategic decisions that emphasize experiences, journeys, trust and satisfaction.Today's marketplace is constantly fluctuating. Businesses are not only envisioned to meet customers' needs, but they also need to anticipate and surpass them. Organizations need to adapt by harnessing the strength of analytics and artificial intelligence to make the necessary changes to endure and thrive. Having a robust marketing strategy isn't enough anymore. As consumer expectations revise, the competition becomes more challenging, and data gets more complex. Chief marketing officers are under immense stress to contemporize their marketing approach. This has added intricacy to their roles and placed them at the heart of organizational success. This is where hyper-personalized and AI-powered marketing strategy is helping CMOs to create stronger, more authentic interactions with customers, and effectively using technologies to capitalize on data for insights-driven results.In a data-driven world, hyper-personalization has become critical in differentiating successful businesses from the pack. Considering all the data, including customer demographics, browsing history, purchase history, and more ­ can create a truly customized user experience that will keep customers coming back for more with CRM data.How Hyper-personalization is changing the businesses scenario?With proper personalization in the digital age, businesses leverage both explicit and implicit means to profile their customers. Take the example of Amazon; how do its Customers receive highly contextualized emails with personalized product recommendations? Amazon uses a recommendation engine algorithm called `item-to-item collaborative filtering' to suggest products based on key data points, create user profiles, and craft a highly contextualized email for the shopper. As a result, BY SI TEAM
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