Personalizing the customer experience is now top priority for many companies. This has been further reinforced by the digitalization surge triggered by the pandemic. However, it is a huge challenge for many organizations to fully adopt a customer-centric mindset. It is equally as difficult to allocate the right resources to adapt to changing consumer buying behavior, and deliver consistent, personalized experiences on a large scale.
Personalization helps you gain competitive advantage
One question we hear time and time again: does personalization really have such a big impact on customer behavior? The fact is, personalization can create a competitive advantage, and for that reason alone it is worth fighting for it, even if it is sometimes difficult to implement. When it’s done well, clever personalization facilitates an exchange between brand and customer that’s much to the benefit of both. On average, latest figures suggest that companies who deploy a high degree of personalization are almost twice as likely to achieve a double-digit sales growth.
Three key insights
Source: Forrester Consulting personalization study commissioned by TRACK, May 2022
The study design
In March 2022, 459 executives representing international corporations (more than US$ 500 million in sales per year) from eleven countries were surveyed. These included Germany, Australia, France, Canada, New Zealand, the UK, and the USA. They came from different industries such as finance, FMCG, retail, IT, healthcare, travel and telecommunications.
What are the next steps?
Take our personalization test to discover how well your company is performing with regards to creating valuable, personalized moments for your customers. You will get a high-quality result in about 8 minutes..
How can we help you?
We would be more than happy to give you further insights into the study which was commissioned by TRACK and conducted by Forrester Consulting – or to discuss the results of your personalization test with you. Why not make an appointment today?