Marketers report using personalization techniques
Customers are most likely to buy from retailers that better personalize the experience
The key is bridging the gap between data science and marketing. Though typically siloed organizations within a brand, these two groups can leverage artificial intelligence (AI) and machine learning (ML) to create 1:1 personalization and help their brand gain a competitive edge.
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Ask most marketers today if they’re using personalization to increase sales or build customer loyalty, and they will likely say yes. But is their approach one that will supports true 1:1 personalization? It’s doubtful, since there’s a lot of confusion about what personalization really is, how to implement it, and whether it can deliver the desired results.
The number one goal for marketers now is personalization, and they’re finding it hard to do when they have hundreds of thousands, or even millions, of customers. The manual processes used simply cannot scale without more manpower, and several months’ worth of effort – and even then is not practical or cost-effective. ML in marketing is the only way to meet, and beat, the high expectations of personalization that consumers have today, and do so in a scalable way.