Successful personalisation requires four elements to work together. This is how marketing leaders build the operating model to make that happen.
Personalisation is ready for the moment. Technology and consumer expectations converge to drive personalisation – the process of using data to adjust the time, content, and design of each experience in real-time – from promise to reality.
Customization at scale can drive overall revenue growth of between 5 and 15 percent for various businesses. For example, a global retailer saw a three-year sale of its fashion items in just one year through a successful personalisation campaign.
Due to this reason, more than 90 percent of retailers say personalisation is their top priority. But only 15 percent of these companies believe they are doing it right. Consumers who faced irrelevant ads or bombarded by outdated offers would agree.
While many companies have had some success with their testing and personalisation initiatives, few know how to do this on a large and consistent scale across all channels. Most companies focus solely on data, analytics, and agile, while investing little in the organizational and operational complement needed for how people perform work.
Personalisation is still treated as a nice addition to an existing company’s marketing function. However, we believe that serving meaningful and sustainable growth through personalisation should be integrated into the marketing operations at all levels. To do this, companies must move beyond the initial impetus of “one-to-one marketing” and enter the terrifyingly empty but critical organizational change.