- According to a report from Accenture, 73% of CEOs acknowledge the need for products, services, and experiences that are more meaningful to their customers, which can be achieved through increased personalisation.
- Current personalisation efforts are too often still focused on a past behaviours and preferences and little to do with truly personalising the interactions and experiences throughout the customer purchase journey (hyper-personalisation)
- The hyper-personalisation approach is at the heart of Ritz’s (luxury hotel chain) success. The company believes in this so much that every employee can spend up to $2,000 per guest per day to resolve customer problems without the need of supervisor permission. On the other end, McDonald’s has also been able to use data to personalise their menu recommendations based on the time of day, weather and customer’s current order. McDonald’s said drive-thru customers are purchasing more add-on items because of this, increasing the average sale.
The rapid growth of technologies such as predictive analytics and machine learning are now allowing for hyper-personalisation at scale. Companies who are able leverage the progress of these technologies, in concert with good old’ fashion customer service to champion a better customer experience will benefit from higher levels of customer satisfaction, translating to higher conversions and long-term loyalty.
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