Personalization is Ready for Primetime

Sep 18 2018
By Joseph Knecht in Insights

Personalization and the impact it plays on sales and marketing has been discussed at some level for a couple of years.  Yet according to McKinsey’s article in March of 2017, 90% of retailers say personalization is a top priority yet only 15% believe they are doing a good job at it.

With the evolution of customer sales journeys, customers are demanding we meet them where they are. It is critical we rise to the occasion. Fortunately there are technology tools available to make personalization a reality. In the July 2018 article by McKinsey titled “No customer left behind: How to drive growth by putting personalization at the center of your marketing” key components must be put into place to allow personalization to thrive. The four components of the personalization operating model are the following:

  • Data Foundation
  • Decisioning
  • Design
  • Distribution                                                                                                                                           

Data Foundation

We believe that the critical data resides in different places for each organization. While major initiatives are sometimes in order to put this data in optimal order, personalization cannot wait. New sales, continued connection to your clients, and wallet share of the customer are at risk. Therefore a personalization tool must provide a degree of data flexibility and be as agnostic to source as possible.

Decisioning

The signals that customers trigger are critical pieces of intelligence that must be received, interpreted, and responded to at the fastest rate possible. For many organizations the need for dedicated resources and a “war room” of focused professionals may not be possible. We like to refer to our resource as a Prospect Conversion Platform (PCP). Tools such as ours should provide leverage to an organization, creating the capabilities to scale without as many resource demands to deploy.

Design

After the signals are interpreted, the creation or deployment of collateral is critical. The proper identification on the front end of the appropriate archetypes of your clients, lines up suspected collateral to fill the need of the customer. There will be the need to develop new material. Your team is best equipped to develop this content. We seek to provide consultative direction and be a resource to help you dial in what is needed and the analytics pre and post deployment to make the best decisions possible. Iteration will be needed but being informed on how that might need to look is incredibly valuable.

Distribution

Consistent and correct messaging across channels and to the correct archetypes is a challenge in and of itself. We talk to organizations who sell through some sort of channel and consistently hear that they believe only about 20-30% of the relevant messaging is getting to the end customer. This is always a challenge when the distribution chain is longer. We aim to erase this challenge by making sure the correct messaging is reaching your intended recipient and leaving nothing to chance.

Personalization is here, it’s primetime. How your organization rises on this stage and the resources you use will be critical to success now and in the future. To learn more how ProteusEngage is helping organizations win, email us at sales@proteus.co or select a brief time to chat by clicking on the button below.

Joseph Knecht
Post by Joseph Knecht

Joseph Knecht is the CEO at Proteus and loves to cover the topics of entrepreneurship, digital transformation, and web product commercialization.

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