Moving from mass personalization to true individualization may seem like a matter of semantics, but the distance between the two concepts is significant.
Imagine for a moment that all-too familiar situation: Your phone buzzes with a new email from a favorite retailer. Because you know and trust the brand, you’re hoping to receive a unique offer — one that compels you immediately to act — but the more you read, the more you’re disappointed by the near misses in the message. The offer isn’t really for you, it’s just addressed to you.
What you were expecting instead was an offer built exclusively for you — one that has taken your online and offline data, your purchase and browsing history, and your preferences into consideration; one that has analyzed every bit of data you’ve provided in order to create a communication that has your name written all over it, instead of merely having your name attached to it.
Today’s savvy consumers agree that a “close enough” experience simply isn’t good enough anymore. In an always-on environment, your customers have 24/7 access to a broader set of engagement options, and when they share information about themselves, they want and expect brands to provide individualized offers, delivered in real-time.
Developing data-driven marketing initiatives that move beyond basic segmentation into true one-to-one individualization in a real-time context is the next big step for today’s marketers. It means using data in a more integrated manner to enable agile, more accurate decision-making.
And according to the Teradata 2015 Global Data-Driven Marketing Survey: Progressing Toward True Individualization, marketers understand the difference and are moving to create experiences catered to each individual customer.
In fact, four out of five marketers report they’ve made it a priority to deepen their understanding of customer behavior beyond transactional data, and 85% use that additional data to drive their marketing.