- \n
- \u200bMass personalization drives significant business growth and customer base expansion by offering personalized products and services tailored to individual preferences.<\/li>\n
- By relying on key technologies like IoT, cloud computing, and big data, businesses mass personalization enables real-time monitoring, scalable infrastructure, and accurate analysis of vast user data.<\/li>\n
- Starting with an incremental roadmap allows businesses to measure progress and achieve distinct gains in personalized customer experiences. Many companies may be surprised to discover that they already have most of the necessary ingredients for personalization in place.<\/li>\n<\/ul>\n
The needs and wants of today\u2019s market<\/h2>\n
The benefits of mass personalization are two-sided: businesses can expect a dramatic growth of their customer base and revenues, while consumers will enjoy the luxury of getting services and products that are \u201cmade to measure\u201d. The right name in the greeting of a marketing email doesn\u2019t cut it anymore. Consumers\u2019 expectations now go far beyond that.<\/p>\n
Today\u2019s consumer expects service providers and manufacturers to go the extra mile, exploring and analyzing their history of purchases, areas of interest, search queries, preferences, and other traces of their online activities \u2014 all in a low-key, non-invasive manner. However, they don\u2019t mind cooperating.<\/p>\n
\n\nTTake a few minutes to read how Intellias built a customer engagement platform with personalization services to bring in more sustainable revenue flows<\/p>\n
\n<\/div>\n <\/div>\n <\/div>\n Read more<\/span>\n\t\t <\/a><\/div>\nAccording to a study by Deloitte<\/a>, as many as 20% of consumers wouldn\u2019t mind paying 20% extra for personalized services. An even higher percentage is willing to voluntarily share their personal information in exchange for a more comprehensive personalization of products and services. With extremely relevant offers landing right in their inboxes or popping up on their favorite online store website, consumers will be making the right choices much faster and getting an incomparably better customer experience to boot.<\/p>\n
On the supply side, personalization in technology huge financial promise<\/a> for all kinds of businesses, online and offline alike.<\/p>\n
The value of personalization is in the trillions of dollars<\/b><\/p>\n
![\"Mass](\"https:\/\/d17ocfn2f5o4rl.cloudfront.net\/wp-content\/uploads\/2021\/03\/mass-personalization_pic-1.jpg\")
<\/p>\nSource: McKinsey & Company<\/a><\/em><\/p>\n
It is evident that the implementation of \u200b\u200bpersonalization through mass customization requires a lot more than just the proper adaptation and application of a particular personalization technology. It involves the coordinated efforts of marketing and technology teams, adoption of new management practices, modification of corporate processes, and, potentially, even alteration of organizational structure.<\/p>\n
\u200b\u200bMarket predictions for mass personalization indicate a sustained growth trajectory in the coming years. Analysts project a near-14% yearly growth rate<\/a> in the mass personalization trend, emphasizing its increasing significance in online and offline business realms.<\/p>\n
Personalization vs mass personalization<\/h2>\n
In the most basic terms, personalization is the practice of providing customers with the most relevant representation of products and services they are seeking through the use of machine learning and personalization products, as well as other tools and techniques. Personalization aims for improved customer experience (CX), shorter sales cycles, increased conversion, dramatically higher effectiveness of sales operations, and substantially higher customer loyalty.<\/p>\n
\n\t\t\t \n\t\t\t\t
\n\t\t\t\t