Customers are clearly in charge and businesses that understand what their customers need and want are winning. Some of the winners are new entrants, the disrupters, and others are more traditional organisations that have been fast to understand the changing customer-led landscape.
The challenge for traditional enterprises is to become customer-native, or ‘Customer-In’. Fifth Quadrant’s research shows 34% of businesses say personalisation is a priority for 2016, but customer expectations are moving faster than they can keep up. Those at the forefront of Customer Experience are now looking to offer a more personal experience for the individual.
Individualisation is achieved when customer intention is anticipated, understood and actioned in the moment. This means giving the customer a total experience they want and desire to a segment of one. In practical terms, it’s possible to offer individualised pricing, products and services through the preferred channel in the moment and at the right time to customers. By bringing together multiple data sources, both structured and unstructured data from inside and outside the business, and using this information through predictive analytics and machine learning, businesses can deliver customers an individualized experience.
Whilst a desire for many CX Leaders, this has been difficult for businesses to achieve in a legacy environment. Cloud technologies change this, and make it faster and easier to achieve the desired experience for customers.
Original broadcast: Tuesday 18th October
With Kristi Mansfield, Director of CX and Transformation at Oracle and Dr Steve Nuttall, Head of CX Research at Fifth Quadrant for this informative webinar in which we’ll provide relevant research and practical tips on developing your personalisation strategy and a look to the future on individualisation.