21/06/2021 | Written by: Think Blog Editor
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As it becomes increasingly straightforward and common for customers to switch or utilize multiple solution providers for their financial needs, a disjointed customer experience has an immediate impact on the results of organizations in the Financial Services Industry. To delight and retain their customers, organizations need to ensure that end-to-end experiences are carefully designed, contextual and personalized across the different touchpoints. How can you deliver this across all your customers in real time? The answer is Personalization at Scale from IBM and Adobe.
What is Personalization at Scale?
Personalization at Scale is the ability to create individual customer experiences across your entire organization based on the journey undertaken by each customer. Done correctly, it is a balancing act of the right content (video, text, CTAs, offers, etc.) delivered via a relevant and context-aware channel, with the right timing. With personalization mastery comes an increase in granularity, with experiences moving from being tailored to wide audiences to an experience for individual customers.
While it may be easy to offer tailored experiences to a small number of customers, the challenge lies in making experiences that can service ‘many’ but feel like they are exclusively made for the ‘few’. Having an entire organization turn to a customer-centric mindset and work across internal barriers is an additional element of complexity.
Furthermore, from an outside-in view, there is a need for organizations to be aware of the ecosystem they operate in when implementing personalization at scale. Organizations need to ensure that the experience provided to their customers does not reflect that multiple parties (or internal entities) are behind the service or product they are utilizing.
Benefits of Personalization at Scale
The right foundational elements are essential for implementing personalization at scale, especially if your organization already leverages machine learning or AI capabilities. It is worth the effort to get the foundation right as personalization at scale can help organizations to anticipate the needs of their customers, empowering them to proactively build delightful experiences delivered through the right channel and context, increasing customer engagement.
While new digital offerings might take the lead here, personal interactions often make the experience more meaningful for the customer. For example, digital systems supporting the actions of an employee in a face-to-face customer meeting or working in a call center.
How to Implement Personalization at Scale
Organizations looking to implement a personalization strategy and then scale it to fully realize the improvements to the customer experience, should focus on five key areas:
In order to deliver a personalized experience, organizations need to know who they’re talking to. This requires them gathering data and building comprehensive profiles, including contextual and external data. With the disappearance of third-party cookies, organizations need to move from a constant targeting exercise to being able to understand intent. As a starting point, organizations can use the best quality data sets that they have already gathered to form meaningful hypotheses to test and learn from.
After knowing who your customers are, organizations need to have content that they can share. The organization needs to implement an AI-driven, intelligent delivery pipeline to ensure a good flow of relevant content that is available at speed and to scale.
By combining the first two steps, organizations can orchestrate the customer’s experience to deliver a personalized experience at scale.
How effective is your personalization strategy? Customer journey analytics helps your organization to measure how your messages are resonating with your customers.
5. Customer service
This focuses on efficient, seamless customer onboarding and self-service, as well as being able to make relevant and appropriate offers.
IBM and Adobe: your Partners for Personalization at Scale
With over 20 years’ experience working together, IBM and Adobe have developed a one-of-a kind partnership to help our customers start or advance their personalization journeys with a hands-on, concrete approach that is tailored to each organization’s needs. Discover more here >
Personalization at Scale Webinar from IBM and Adobe
Are you interested in learning more about how IBM and Adobe can implement a personalization at scale strategy within your organizations? What benefits this can deliver to your organization? And do you want to see how personalization at scale has had a positive influence on other organizations?
Find out more by joining industry experts and your peers for an exclusive hour-long webinar from IBM and Adobe.
Register now >