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Tag: personalization

  • AI-driven personalization ‘no longer optional’

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    AI-driven personalized banking services are becoming table stakes for customer growth and retention.  “We’re seeing strong demand from banks and credit unions for deeper personalization, and it goes beyond only retaining clients,” Udi Ziv, chief executive at behavioral banking service provider Personetics, told FinAi News. “Today, financial institutions aren’t just competing with each other, they’re competing with the digital experience consumers get from every other app on […]

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    Vaidik Trivedi

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  • Google Could Have Made the Internet Respect Your Privacy. Then It Realized No One Really Cared

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    For years, Google promised to make the internet respect your privacy. It came up with a grand plan that included blocking third-party cookies by default—something its competitors like Safari and Firefox already do.

    Cookies, you’ll remember, are those little pieces of code that websites use to track your activity across the internet. It’s how advertisers are able to target you with products they know you’re interested in because they know how you spend your time online.

    Chrome, the world’s most popular browser, was going to lead the charge by blocking third-party cookies by default. Instead, it came up with an alternative, called Privacy Sandbox, which would let marketers measure and target ads without directly spying on anyone.

    After years of slowly backing down, Google said in April that it wasn’t going to kill off third-party cookies at all. Now, it’s saying it’s ending Privacy Sandbox altogether.

    In a blog post full of corporate phrasing—ecosystem feedback, interoperable attribution standards, and collaboration with stakeholders—Google announced that it’s retiring almost every piece of Privacy Sandbox. Topics, Attribution Reporting, Protected Audience, IP Protection, Shared Storage, SDK Runtime—are all deprecated. What’s left are a few technical odds and ends like CHIPS and FedCM, and some vague promises about “continuing engagement.”

    That’s a polite way of saying Google is giving up.

    The thing is, Google was the only company that could have forced the web to change. More specifically, it’s the only company that could have forced the internet to respect your privacy. If Google flipped the switch, the rest of the web would have to adapt.

    The reason it isn’t is more complicated than you might think. It’s not that Google is maintaining cookies so it can continue tracking what you do online. It doesn’t have to—it already knows basically everything about its users because they literally type the thing they’re looking for into Google’s search box.

    Killing cookies wouldn’t hurt Google’s data business. It would, however, hurt everyone else’s. And that’s a big problem.

    If Chrome had actually followed through and killed cookies, it would have devastated the entire ad-tech ecosystem. Independent publishers would lose revenue overnight. Smaller ad platforms would vanish. Every marketer would rush to Google’s first-party systems—Search, YouTube, Display—because they’d be the only places left where personalization and measurement still worked.

    In other words, fixing privacy would have made Google’s dominance unavoidable. Killing off third-party cookies would have meant killing the competition.

    That seems like it would be great for Google, but using Chrome to make it impossible for the rest of the ad industry to target customers would have just confirmed everyone’s worst fears about its power.

    There is another reason, which is that hardly anyone really cared. Sure, they did at first. The idea that Google was going to eliminate cookies as a form of tracking seemed great for consumers. But, over time, as Google slowly backed off its plans, no one really made a big deal.

    It turns out, most people just click “accept all cookies” to get to the next page. After a decade of headlines about data breaches and tracking scandals, the average user is numb.

    We say we want control over our data, but really, we just use the internet without really thinking about it. Google figured that out long ago. It didn’t take much to see that the outrage had faded. Or, at least, to see that the outrage wasn’t actually reflected in the behavior of most users.

    And, so, third-party cookies will stay. Chrome will keep talking about “user choice,” and advertisers will keep tracking people in slightly more polite ways.

    Google, for its part, will keep doing what it does: printing money. It’s already the most successful advertising platform in the world. That’s because it has what is probably the single greatest business model in the history of the internet, and nothing about cookies was going to change that.

    I used to think that Google decided that making the internet respect our privacy was too hard. It turns out, it just realized long ago that most people don’t think it’s actually worth caring about.

    The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.

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    Jason Aten

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  • Personalize Your Marketing for What Consumers Want to See

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    Let’s face it. Running a small business is tough. You’re juggling everything from sales to customer service, trying to stand out in a noisy marketplace. But what if you could do one simple thing that 90 percent of consumers already want—and that actually helps you get more customers?

    That “thing” is personalized marketing.

    Yet when I speak with small business owners—and my business has served 126,217 clients, most of them SMBs—they think personalization is “for the big guys” with multi-million-dollar ad budgets.

    This might have been the case a few years ago, but advancing technology has leveled the playing field. And if you aren’t ready to adopt some new, more personalized marketing tricks, your competition might beat you to it.

    Here are ways your business can leverage personalization in your marketing and keep the eyes of leads and customers focused on you.

    Double (or even triple) your response rates by using first names

    Ever seen your name on a postcard or email subject line and felt an instant connection? That’s the magic of personalization.

    When it comes to emails, adding a name costs nothing. Use dynamic first name tags (something most email service providers allow you to do easily) that automatically add the recipient’s first name to every email that you send out.

    Take this a step further by adding the name in the subject line, such as: “Carol, you missed this in your shopping cart.” Addressing individuals this way builds rapport without making them question privacy concerns.

    And get this: Direct mail outperforms email by 800 percent in response rates, with email’s average response at 1 percent and direct mail’s at 9 percent. So imagine combining that power with a personal touch.

    Placing a person’s name in big bold colors on the front of a postcard screams for attention. One study reported that 84 percent of respondents would be more likely to read a direct mail piece if it was personalized to them.

    It doesn’t cost much more, but it makes your message impossible to ignore.

    Create “set it and forget it” automations that feel personal

    Personalization goes beyond a first name. What if you could follow up with a lead based on exactly what they did on your website, without lifting a finger?

    That’s where automated, responsive marketing comes in.

    Let’s say someone adds a product to their cart but doesn’t check out. Instead of letting that sale slip away, you can automatically send them a reminder email, or even better, with a physical mail piece, where it’s more likely to make a deeper impression. This is done by automatically matching the person’s digital IP address to a physical address..

    Every action a lead takes can trigger a personalized message from your business that helps persuade them to do more.

    These responsive tactics should not only be personalized to each prospect’s behaviors, but also automated so that you aren’t expending too much time, money, or energy with follow up.  

    This only takes a little bit of code on your website, connecting that code to your marketing platform of choice.

    My favorite way to personalize follow-up is with direct mail retargeting. You can automate postcard mailings to anonymous website visitors. You can even set parameters around what triggers a mailing, such as the specific web pages they click on, how long they stay on your website, and if they place items in a shopping cart or fill out an online form. Then, a couple days later, they receive a postcard reminding them of why they were interested in purchasing in the first place.

    One of our clients mailed 1,000 postcards to their anonymous website visitors and generated $285,000 in revenue.  

    Automation not only keeps your business top of mind, but it also keeps the conversation going over time. And it does it all without adding to your ongoing workload.

    They key with personalized marketing is meeting people where they are and appealing to what makes them unique. In the end, it is really about connection. Focus on providing them with exactly what they need. You can’t go wrong with that strategy.

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    Joy Gendusa

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  • AI vs. a Human Touch: Finding The Right Balance When It Comes to Branding | Entrepreneur

    AI vs. a Human Touch: Finding The Right Balance When It Comes to Branding | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In a world where digital interactions dominate, the symbiotic relationship between artificial intelligence (AI) and branding is transforming the landscape. While AI can’t replicate the genuine human touch, it’s emerging as a powerful tool to forge authentic connections with consumers.

    In the competitive business landscape, companies of all sizes are looking for opportunities to work smarter, faster and better than the competition. An increasing number of AI tools can assist with branding and reputation management, but the overwhelming number of options leaves many falling short.

    Related: How AI is Forcing Marketers to Reinvent the Industry

    The human connection beyond the algorithm

    The first and most important step is to understand AI as an assistive technology, not a replacement for human effort entirely. Secondly, it’s critical to be aware of the personalized, connected interactions that today’s consumers demand. Emotional connections create a resonance with potential customers, leaving them with confidence and trust in the brands they choose.

    In today’s world, branding is all about making that connection with your audience. By nature, it’s a process that requires empathy, understanding and creativity. You’re trying to figure out:

    • How to present your brand as an authority within your industry.

    • How to use branding to build trust and connection with your audience.

    • What “branding” even means to today’s audiences.

    • How you can bring this all together to succeed in branding your business properly.

    Understanding human interactions and behaviors can help you create more successful strategies in branding, marketing and beyond. When you add the power of AI, you can do even more.

    AI as a catalyst for personalization

    As we’ve learned from the use of various AI tools and machine learning models, vast amounts of data can be analyzed in a very short amount of time. For businesses looking to improve their personalization, this is a huge benefit. No longer do your employees have to spend hours sifting through and organizing customer data to deliver personalization. They can simply put the AI to work to gather insights on preferences and user expectations.

    This will allow you to deliver an enhanced customer experience that includes everything from tailored recommendations for products and services to customized messaging in your marketing campaigns. And you can do it all without having to cull the data yourself when you enlist the help of AI.

    In the past, the focus was mostly on market segmentation, or dividing audiences and defining customer personas based on certain demographics or other factors. Businesses were looking at this as a more targeted option than blanket marketing, and it became the norm. AI takes that one step further, refining the targeting process even more and allowing your brand to make connections with your customers on a deeper level.

    Related: 3 Timeless Elements of Storytelling That Will Grow Your Business

    The role of AI in storytelling and creating emotional connections

    There are several AI tools that you’re probably already using to help you tell the right story with your content. Keyword research, topic generation tools, analytics reports (that are AI-generated) — the list is longer than you might think.

    AI is a powerful element in storytelling because it can use the data provided to identify narratives that resonate with various audiences. Artificial intelligence and automated tools can help you optimize the delivery of your content, too, so that your stories find the right users at the right time.

    This also helps brands identify the emotional triggers that drive consumer behavior, which makes it easier to create an emotional connection in the brand experience. Emotional AI is even becoming more popular, as tools that can identify emotions through words or facial recognition are being developed by many big players in the industry.

    And those emotional connections are what will set your brand apart. Take, for example:

    • Brazil’s Yellow Line used AdMobilize emotional AI to measure face metrics and display ads based on people’s emotions.

    • MetLife implemented an emotional AI coaching tool to help agents better detect emotional states and provide real-time tips and assistance for agents. This increased their NPS score, Perfect Call scores, and issue resolution and decreased call handling time.

    These are just a couple of examples of how many brands are starting to use AI to create emotional experiences that today’s audiences enjoy.

    Enhancing brand consistency

    Of course, we can’t talk about AI and automation without discussing the benefit of consistency. With AI, you can maintain brand consistency across all platforms and touchpoints without having to even think about it. AI can help you align messaging, tone and design to come up with a cohesive brand identity that you can share with the world.

    AI can even help you identify areas where things aren’t consistent or instances of your brand that may need a second look. This helps you further ensure that you’re staying ahead of the competition and delivering the connected experience that people desire. AI can even go as far as to outline a strategy or process for you so that you can further refine it into manageable touchpoints and provide a consistent experience from start to finish.

    Related: What Is Artificial Intelligence (AI)? Here Are Its Benefits, Uses and More

    AI and human authenticity: A synergy

    AI cannot replace the authenticity of human creativity and conceptualization. However, it can enhance several areas of the human experience. In an era of AI-driven innovations, maintaining those authentic connections with your consumers remains a priority. While AI is a tool that can optimize data analysis, personalization, storytelling, and branding, the human element remains at the core of brand-consumer relationships.

    By embracing AI as an augmentation to your human efforts, your brand will be able to forge a path toward meaningful, personalized interactions that resonate in today’s digital world. AI is poised to become a powerful tool for branding and marketing, amplifying the capabilities of your human employees and delivering data-driven insights that will help you create more effective branding strategies moving forward.

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    Tatiana Dumitru

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  • Leverage Buyer Personas to Boost Your Customer Lifetime Value | Entrepreneur

    Leverage Buyer Personas to Boost Your Customer Lifetime Value | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    It’s no secret that the customer experience is foundational for converting more shoppers to drive revenue and creating brand loyalty to convert guests into lifelong regular customers. Ecommerce retailers around the world are (or should be) obsessed with creating a simple, frictionless and personalized customer experience — the kind of customer experience people tell their friends about.

    Roadblocks to positive customer experience

    The road to a differentiated customer experience can be rocky; however, retailers must find new ways to meet customers’ increasing expectations and desire for personalized interactions while repairing the trust that has been damaged due to recent supply chain disruptions. Throw inflation, the threat of recession and labor shortages into the mix and cracking the code becomes trickier.

    As many work to rebuild relationships and transition guests into known customers, ecommerce vendors must manage various customer-related challenges, from “checkout ghosters” to disgruntled customers dissatisfied with their home delivery performance. For example, did you know 70% of customers abandon their carts before completing a purchase?)

    On the last-mile delivery front, a recent study found that 67% of consumers experienced a home delivery problem in the three months surveyed, with 68% of those consumers taking some form of action against the retailer or delivery company. What brand can withstand that level of retribution?

    Related: 5 Ways to Provide a Positive Customer Experience in Ecommerce

    Home delivery — missed opportunity

    Don’t make the common mistake of underestimating the power of a positive customer delivery experience to differentiate your brand, drive sales, create lifelong customers — and contain delivery costs. On the flip side, be aware that poor delivery performance can compromise the customer experience and irrevocably damage your brand.

    Indeed, a 2022 study found that customers who had experienced delivery issues hadn’t ordered from the retailer again (23%), while 16% told family and friends to avoid the retailer — a figure that has the potential to cripple a brand, given the speed with which these experiences can be shared across social media and messaging platforms.

    Related: Buyer Personas: What They Are, Why They Matter and How to Best Build One

    Moving beyond buyer personas

    While every retailer worth their salt recognizes the value of creating buyer personas to inform marketing strategies, many are in the dark about delivery personas. But delivery personas are equally powerful, with the ability to nurture brand loyalty, add incremental revenue and reduce operational costs to increase top- and bottom-line performance.

    In plain terms, customer delivery personas incorporate a mix of delivery speed, accuracy, extra services and insight regarding delivery choices (e.g. most eco-friendly) to help retailers create a range of delivery experiences tailored to their customers’ individual preferences.

    Here are five delivery personas that ecommerce businesses should consider when shaping delivery strategies and helping personalize the customer experience to turn guests into lifelong customers:

    1. Price-conscious: For these customers, the cost is the be-all and end-all. These individuals are highly price-sensitive and will prioritize delivery fees above all else. They will opt for the slowest shipping method available if it means they can save some money. The time of delivery is also of little importance to them — they’re willing to wait days for their package (as long as it arrives within a reasonable timeframe).
    2. Parcel-centric mindset: These customers’ prefer a speedy, hassle-free delivery of their smaller items, such as apparel and accessories, that are typically delivered quickly without needing to be present for a specific delivery time. For example, they’re content with their package being left on their doorstep at any point during the day and are typically not concerned with a time-definite delivery. This specific persona also appreciates the convenience of receiving their package quickly without having to wait for a specific delivery time and are satisfied with the fast delivery cycle offered by most ecommerce companies.
    3. Convenience is key: These customers value precision over speed. They have a specific time window in which they need their items delivered and prioritize convenience over quick delivery. This persona often includes customers purchasing larger items, like appliances or furniture, who need their delivery coordinated with the installation date and other tradesperson availability. For them, a seamless delivery experience is crucial and can significantly impact their overall satisfaction with their purchase.
    4. Time is money: This group of consumers prioritizes their time above all else and are willing to pay a premium to have their high-value purchases or replacement items delivered ASAP. They want their delivery to fit around their busy schedules and are willing to pay for the convenience of having purchases delivered in a timely and efficient manner — and it doesn’t take too many of these types of customers to offset a significant amount of your overall delivery costs.
    5. Eco-friendly focus: With a strong desire to reduce their carbon footprint, these consumers are on the lookout for companies that prioritize sustainability and environmentally-friendly delivery options. They aren’t just interested in the product but are also seeking a commitment to eco-friendly practices from the companies they shop with. These customers are willing to be flexible in terms of delivery time and speed, especially if it aligns with their environmental values. They may even be interested in grouping orders when you have deliveries in their area or may be keen for you to recommend the most sustainable delivery option.

    Given that 65% of consumers consider the environment when placing an order — and some customers, especially Gen Z and millennials, are willing to pay more for eco-friendly delivery — the sustainability delivery persona represents an excellent opportunity to lower delivery costs by reducing the number of deliveries, increasing delivery density and allowing for better planning with longer lead times.

    Related: How to Increase Customer Lifetime Value And Boost Profits

    Using delivery personas to give customers what they want

    Offering delivery options at checkout gives customers the choice to select which option best suits their needs for any given purchase— which can translate to a welcome revenue bump. Case in point: A 2021 study suggests that 71% of consumers expect companies to provide personalized interactions — and 75% get frustrated when this doesn’t happen.

    Personalizing delivery options using delivery personas opens up new opportunities to delight your customers. While low cost and speed are obvious choices, delivery preferences differ depending on what type of product is purchased (e.g. groceries vs. appliances). Offering value-added services like contact-free delivery and sustainable options, or the ability to book a specific date or delivery window, are extremely valuable delivery persona preferences that foster customer loyalty and sustained growth.

    Not every persona is relevant for every buyer and there isn’t one that takes first place — rather, a combination of them will create an extraordinary customer experience that takes into consideration how fast a delivery can be made, its accuracy and its cost. Don’t miss the opportunity to leverage customer delivery personas to protect margins, boost customer retention and increase customer lifetime value.

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    Johannes Panzer

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  • How to Leverage Data and Analytics to Connect With Customers | Entrepreneur

    How to Leverage Data and Analytics to Connect With Customers | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    When it comes to marketing, a one-size-fits-all approach just doesn’t cut it anymore. Luckily, and as my CTO at the Strategic Advisor Board always says, “With big data and advanced analytics, businesses can create customized experiences tailored to each customer’s unique needs and preferences.” This personal touch increases engagement and conversions and fosters a more profound sense of brand loyalty. Let’s dive into the exciting world of personalized marketing and discover how your business can implement this strategy.

    Imagine receiving an email that feels like it was crafted just for you. Every product recommendation and piece of content speaks to your interests and needs. This is the power of personalization in marketing. By gathering and utilizing data on your behavior and preferences, brands can create a truly unique and tailored experience for each individual customer. From behavioral to contextual, demographic to predictive, there are many ways to personalize marketing tactics and make every interaction feel special.

    Behavioral personalization involves tailoring the customer’s experience based on their past behavior. Ecommerce websites, for example, recommend products based on past purchases, browsing history and search queries. In contrast, contextual personalization is based on a customer’s current context, such as their location or time of day. Demographic personalization involves tailoring a customer’s experience based on their location. Predictive personalization uses data analysis and machine learning algorithms to predict customers’ interests and provide personalized recommendations.

    Personalization in marketing involves using data and technology to create a more relevant and personalized customer experience, which can drive better engagement. It is a critical strategy for businesses looking to stay ahead of the competition and connect with customers more meaningfully. One of my golden rules in all my companies is to keep it customized and personalized to the audience we need to speak to.

    Related: 3 Tips for Using Consumer Data to Create More Personalized Experiences

    The benefits of personalization

    Personalization in marketing has become a critical strategy for businesses because it can increase customer engagement, drive higher conversion rates and improve customer loyalty. By delivering personalized experiences, companies can create stronger customer connections, improving brand perception and repeat purchases.

    According to a study by Experion, personalized emails have an open rate of 29% higher than non-personalized emails. Additionally, a Segment study found that customized product recommendations can increase conversion rates by up to 300%. These statistics demonstrate the powerful impact of personalization on driving business results.

    In addition to these benefits, personalization can also improve customer loyalty. An Infosys study found that 74% of customers feel frustrated when website content is not personalized to their interests. Moreover, 59% said personalization influences their shopping decisions. By delivering customized experiences, businesses can show their customers that they understand their needs and preferences, leading to increased loyalty over time.

    Best practices for personalization

    Personalization in marketing campaigns can boost customer engagement, loyalty and conversion rates. To succeed in personalization, data collection and analysis are crucial. Here are some tips for personalization in marketing campaigns:

    First, collect as much data as possible about customer behavior and preferences. This includes their purchase history, browsing behavior and social media activity. Analyze this data to identify patterns and trends and use it to tailor marketing messages and offers to individual customers.

    Second, segment customers into smaller groups based on shared characteristics such as location, behavior or demographics. This enables businesses to create targeted marketing messages and promotions relevant to specific customer identifiers.

    Finally, testing and optimization are essential for successful personalization. Use A/B testing to experiment with different personalization strategies and optimize campaigns based on the results.

    Several companies have successfully implemented personalization in their marketing campaigns. For example, Amazon uses data to recommend products and provide personalized shopping experiences. Netflix uses customer viewing data to suggest customized content, while Spotify utilizes customer data to create personalized playlists and recommendations. Through its Beauty Insider loyalty program, Sephora leverages customer data to provide tailored product recommendations and offers.

    Related: These Are the Biggest Takeaways from 2022. What Does 2023 Have in Store for the Customer Experience?

    Overcoming personalization challenges

    Personalization in marketing campaigns has benefits, but challenges such as data privacy and scaling personalization efforts must be addressed. Businesses must be transparent about data collection and use practices to build customer trust. Investing in technology like AI-powered tools can help companies automate personalization efforts and create personalized experiences at scale.

    Several companies have successfully implemented personalization in their marketing efforts, achieving impressive results. For example, Coca-Cola used personalization to create unique bottles for its “Share a Coke” campaign, featuring customers’ names on the label. This campaign resulted in a 2.5% increase in sales and more than 500,000 photos were shared on social media using the campaign hashtag.

    Another successful example is Spotify, which uses personalization to create personalized playlists and recommendations for each user. This has significantly increased user engagement and retention, with over 60% of users listening to recommended music regularly equaling a total of 30% of total listening.

    These companies demonstrate how personalization can create more engaging and effective marketing campaigns. By leveraging customer data and delivering personalized experiences, businesses can increase customer engagement, boost loyalty and drive sales.

    The future of personalization in marketing

    As technology evolves, personalization in marketing will also grow, with emerging technologies such as AI potentially revolutionizing businesses’ personalization. AI can analyze vast amounts of customer data in real time, allowing companies to deliver highly personalized customer experiences at scale. In the future, businesses may use technologies like facial recognition or VR to create even more individualized experiences.

    Businesses must invest in emerging technologies like AI and machine learning to implement personalization effectively. Yet, challenges such as data privacy concerns and scaling personalization efforts must be addressed. Transparency about data collection and investment in technology that can automate personalization efforts can help.

    Modern marketing relies heavily on personalization to increase customer engagement, loyalty and sales. Amazon, Spotify, Sephora and Coca-Cola have all implemented personalization successfully. To stay competitive, businesses must prioritize personalization, invest in emerging technologies and build customer trust through transparency and privacy. Creating more engaging and effective marketing campaigns in the modern era will require businesses to utilize personalization.

    Related: Owning Your Customer Data Is the Key to Profitability. Here’s Why.

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    Jason Miller

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  • Here Are 5 Trends to Watch Out For in Sales and Marketing in 2023

    Here Are 5 Trends to Watch Out For in Sales and Marketing in 2023

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    Opinions expressed by Entrepreneur contributors are their own.

    As we close out 2022, sales and marketing teams everywhere are evaluating the year’s performance. They’re looking at what lies ahead and crafting new strategies to appeal to buyers and boost revenue. In a time where customer behaviors and expectations evolve faster than ever, these strategies often hinge on a business’s agility, flexibility and willingness to adapt to industry shifts.

    Two such shifts that arose from the pandemic’s disruption were an emphasis on personalization and customer experience. Moving into the new year, organizations can expect these trends to continue and undergo further refining as hybrid buying and selling solidify as the new normal. Tools and tactics that can better leverage customer data and create a greater sense of relevancy with consumers will be the key to a competitive edge.

    As you prepare, here are five trends to watch and incorporate into your strategies.

    1. RevOps is on the rise

    Internal fragmentation of the sales process has long been a source of friction in the buyer’s journey. It can have a detrimental effect on the seamless customer experience consumers are hoping for. Businesses need to unite their internal sales process to mirror what their customers prefer and expect. One of the ways they can do this is through revenue operations. This business model knocks down silos and gets everyone working toward the same goal: revenue. And since revenue is tied closely to customer purchases, it often translates into uniting behind the customer experience.

    Processes and tactics that focus on shared data, agreed-upon procedures and clear communication will be vital to creating the seamless experience that so many customers now expect. Successful implementation of a RevOps model can see a 10-20% increase in internal customer satisfaction.

    Related: Are You Reducing Friction For Your Sales Team? If Not, Here’s Why.

    2. Curated content is key to one-to-one selling

    In the age of digital selling, content is one of the most potent tools businesses have at their disposal. In B2B especially, there is an elevated reliance on content during the decision-making process. As the buyer’s journey becomes increasingly self-led, the best way to attract customers’ attention is by providing relevant information throughout the sales cycle. With the amount of data marketing and sales teams now have about their prospects and opportunities, it’s possible to leverage content further than the broad one-to-many messages that have taken dominance.

    By carefully looking through previous customer actions, along with communication from marketing, sales teams can see what content a lead has seen. They can then use the historical data to make informed decisions about other content that would be most valuable for the lead as it progresses through the funnel. Not only does this provide the lead with relevant content, but it also demonstrates that you are listening to them and understanding their problem, which can go a long way to building trust.

    Related: How Content Creation and Content Curation Should Work Together

    3. Businesses are leaning on automation

    Automation may sound counter-intuitive to a personalized customer experience, but the truth is that automation makes personalization at scale possible. There are two main functions of automation in sales and marketing: removing repetitive, rote tasks from human workers and analyzing large amounts of information. Automating repetitive tasks frees employees to focus on higher-level priorities and reduces the chances of an overlooked task, such as email follow-ups. With scale becoming such an issue, customers can get lost in the details of the daily grind. This is the last thing you need in an experience that is supposed to make them feel noticed and understood by your business. Automation can also assist with data analysis and provide team members with actionable insights.

    4. Account-based marketing is driving personalization

    Quality over quantity is vital in terms of leads. You can show your ads to a hundred people, but if they are the wrong audience, they won’t produce any sales. The scattershot, blanket method of marketing that pushes views and clicks over engagement and interest is no longer in fashion. Today’s customers are inundated with ads and companies. They’ve learned to tune out the noise unless it’s something that actually interests them.

    Account-based marketing takes this concept and digs deeper. It’s getting to know specific accounts and their details to craft a message that meets their specific and individual needs. It works alongside RevOps and aligns sales and marketing to take information from both teams to identify the best and most likely accounts to win.

    5. Buyers expect self-service experiences

    A rising number of consumers, especially from younger generations, prefer to conduct their buyers’ journey independently, without interaction from sales or marketing teams. 81% of customers want to see more self-service options. This poses a complex problem to businesses that have relied for decades on human assets to push products. Instead, companies must now place focus on product experience and allow interactions with the product itself to drive consumers further down the sales funnel. For example, in software, self-service demonstrations will be vital in driving more independent customers. Once they have had their own self-activated experience with a product, they will be more inclined to seek assistance from high-end sales activities because they can curate their own questions from experience.

    Related: Customer Experience Will Determine the Success of Your Company

    The customer experience has always been a vital element of business success. As we become an increasingly digital society, a larger part of that customer experience will be defined online and through the screen. Just like the sales and marketing tactics of the past, businesses will have to work to differentiate themselves from the competition. But, they need to do it according to the expectations and preferences of digital behavior.

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    Margaret Wise

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  • Listen: How FIs can improve CX through site search personalization | Bank Automation News

    Listen: How FIs can improve CX through site search personalization | Bank Automation News

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    Raleigh, N.C.-based First Citizens Bank is leveraging the services of a fintech to offer search personalization and improve the customer experience. The $108 billion bank has a search bar in the middle of its homepage for easy navigation. The search option brings answers to client questions “without clicking a bunch of blue links,” Shane Closser, […]

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    Whitney McDonald

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  • One Size Doesn’t Fit All: How First Place for Youth is Using Data Science to Better Serve Transition-Age Foster Youth in U.S.

    One Size Doesn’t Fit All: How First Place for Youth is Using Data Science to Better Serve Transition-Age Foster Youth in U.S.

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    Press Release
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    updated: Mar 18, 2021


    OAKLAND, Calif., March 18, 2021 (Newswire.com)
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    New research released today by First Place for Youth draws from precision analytics to offer customized support plans to greatly improve the likelihood that a foster youth will successfully transition to adulthood and earn a living wage. First Place for Youth, a 20-plus-year veteran in the foster youth support world, is using data science and precision analytics to make new predictions about how we better serve transition-age foster youth in the United States. A key focal point of its research entails delivering these personalized plans through a framework of extended care, customized milestones and a clear focus on education to employment.

    Every year, nearly 25,000 youth who have grown up in the foster care system turn 18. According to a 2011 study, by age 26: nearly 40%+ of foster youth will experience homelessness and incarceration, and less than 5% will graduate from a four-year college. Not surprisingly, more than half of this vulnerable population will also face unemployment. Like many of their peers, transition-age foster youth benefit greatly from receiving additional support on their paths to self-sufficiency. And, while extending the timeline for foster service eligibility has had tremendous positive outcomes, it has not been tied to college persistence or increased earnings in adulthood.

    To illuminate this issue, First Place for Youth collaborated with Dr. Mark Courtney and the California Youth Transitions to Adulthood (CalYOUTH) team to begin identifying the particular aspects of extended care associated with positive outcomes. First Place for Youth also partnered with Peter York, MSSA at BCT Partners, to develop the Youth Success Roadmap Tool, a web-based decision-support system for practitioners. This novel tool uses precision analytics to recommend individualized, interactive service and support roadmaps for transition-age foster youth.

    “Some of the most compelling data we found using the roadmap tool indicated that the amount of time youth need to reach self-sufficiency in the program ranges from 1.5 to 5.5 years. This huge range strongly suggests the need for service providers to effectively assess a young person’s unique background and recommend a customized roadmap using a racial equity lens,” said Peter York, Principal and Chief Data Scientist at BCT Partners.

    Within the largest participant group studied, First Place for Youth revealed that when youth were properly supported with a combination of extended care alongside customized services and support, their likelihood of achieving 80% or more of the living wage standard increased from 20% to 80%.

    “In this brief, First Place for Youth embodies next-generation nonprofit leadership by answering the call to action and building evidence strategically with like-minded evaluation partners. In taking an actionable approach focused on what best serves young people, First Place for Youth committed to a common evidence plan in service of more effective, equitable outcomes for foster youth, and they delivered. We need more of this in the world,” said Kelly Fitzsimmons, founder and Chief Executive, Project Evident.

    The investigation illuminated a series of high-impact goals and services that can guide a youth’s trajectory towards a living wage. Examples include career progress, good tenancy, length of stay, level of engagement with employment specialists, and self-efficacy and long-term goal setting.

    “At the end of the day, it’s about growing a more effective and equitable foster care system,” said Dr. Erika Van Buren, Vice President of Learning, Evaluation & Strategic Impact at First Place for Youth. “When I look at the future of our organization, I see First Place for Youth as connective tissue between policy, technology and improved outcomes for foster youth across the United States.”

    ABOUT: Founded in 1998, First Place for Youth envisions a world in which involvement in the foster care system does not limit young people’s opportunity to thrive. First Place provides evidence-based, results-driven direct services to more than 1,500 foster youth each year in six California counties and through its My First Place™ Network with partner providers in Boston, New York City, Cincinnati, and Mississippi. 

    DOWNLOAD REPORT: https://www.firstplaceforyouth.org/our-work/publications/raising-the-bar/

    READ First Place for Youth BLOG: https://www.firstplaceforyouth.org/whats-new/blog/

    CONTACT:
    Vicki Whitlock
    First Place for Youth
    VWhitlock@firstplaceforyouth.org
    510.272.0979 ext. 262

    Source: First Place for Youth

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