Companies that thrive on demonstrating customer intimacy grow revenue faster than their competitors. As companies get closer to consumers, the benefits grow. Whether a company is a digital company, a background manufacturer or supplier, or both, personalization is not only a core function, but one that goes beyond its capabilities. Customers want personalization – they don't just want it. It's important to get it right because customer loyalty to brands and products is mostly short-lived. More than 80% of consumers who have tried a new shopping habit in the past 18 months want to continue it. About 75% of consumers did. Roughly 75% of consumers did so.
McKinsey’s Research shows that…
According to McKinsey’s report (The Value of Getting Personalization Right is Multiplying(2021)); Since the beginning of the pandemic, increased online engagement has raised expectations, exposed customers to the leaders of e-commerce personalization strategies and set the stage for everyone else. higher standard. Today, consumers see personalization as the standard for engagement across all media, including online, mobile and in-person interactions. According to research, 71% of customers ask companies to personalize their interactions. 76% of people become frustrated when this doesn't occur. If customers don't like their experience, the ease with which they can choose something else puts more pressure on the company. During the pandemic, 75% of consumers shifted to a new brand, item, or purchasing strategy. 72% of respondents stated that said they want the companies they do business with to know who they are and what their interests are. Consumers asked to describe personalization associated it with feeling treated favorably. When companies show that they care about the connection as much as the transaction, consumers respond positively. Positive brand perceptions are produced through touchpoints like following up after a purchase, providing a how-to video, or encouraging customers to leave a review
According to SalesForce’s report: State of the Connected Customer(2022), personalization typically results in a 10 to 15% increase in sales (with company-specific lift spanning 5 to 25 percent, driven by sector and ability to execute). The benefits will increase as companies better leverage data to increase consumer intimacy and knowledge. Personalization isn't just how digital natives are developing data-driven, direct-to-consumer business models; it is also how these businesses run. Better customer outcomes are also experienced by those who are leading the personalization charge. Better upward migration, retention, and loyalty result from their emphasis on the relationship and long-term value.
It’s Time to Start Using Personalization!
Even for organizations that normally don't have direct access to customers, like those in the consumer packaged goods sector, personalization can be a revenue accelerator. Companies in this group are more likely to value personalization than slower growing companies. According to research, even small changes to increase customer intimacy can create a competitive advantage, and these advantages improve as companies mature. So don’t hesitate and get into Botgate’s conversational marketing world where you can experience personalization in the best form! Playbooks convert visitors into clients, and AI-based FAQs make sure that your customer support staff is free from dealing with inquiries. It's the same as hiring a knowledgeable customer service agent to work your website 24/7. Visitors can get a lot of information within the conversational marketing experience.