The modern business world is only becoming more competitive by the year. In order for a company to stand out from the throng of businesses all vying for customers' attention, they must build a solid brand identity. This identity includes a company's beliefs, mission, culture, customer experience, and reputation that a customer will experience whenever they are interacting with a company. It is crucial to keep this brand consistent across all platforms, including social media, websites, emails, and ads. Differentiating your company from the competition and instilling a feeling of hyper-personalization in the eyes of your customers are the keys to making a lasting impression.
Unfortunately, not many companies are curating their brand identity with the tenacity that they should be. Customers are not getting a personalized experience in two thirds of cases, and 90% of firms have trouble with inconsistent branding throughout their material. This is a huge red flag for modern businesses, because 76% of customers are expressing a desire for personalization in their shopping experience. This discrepancy may cause misunderstanding in the marketplace, lengthen the sales cycle, and make it more difficult to produce leads for sales. On the other hand, businesses that place a high priority on consistent branding get a 10% or greater boost in revenue.
Using artificial intelligence (AI) is the key to attaining hyper-personalization and developing a distinctive consumer experience. With the help of machine learning, AI can evaluate the online browsing and purchasing data from customers in real time to deliver personalized recommendations and ads based on their preferences. This method progresses in phases, each of which increases revenue growth: from single message mailing and field segmentation to behavioral suggestions, omnichannel optimization, and predictive personalization.
Big brands have already begun to use AI-powered customisation. For example, 80% of Netflix viewers rely on personalized suggestions based on their viewing history to find new movies and shows to watch. Starbucks has observed a 3x increase in incremental revenue due to their personalization algorithms embedded in their loyalty rewards apps. Amazon has reported a 35% higher conversion rate on specific products that have been marketed with tailored product emails campaigns. The research behind this phenomenon backs these results. Customers respond better to marketing messages that are closely related to their personal experiences (72%), and 90% of them think that tailored commercials are more enticing. If personalization efforts are abandoned, there might be a loss of up to 38% of clients and a subsequent 23% decrease in revenue.
There are a few brands that have emerged as the pinnacle of success in the field of hyper-personalization. easyJet has experienced some outstanding results by using highly customized emails. They have experienced a 7.5% booking rate within 30 days after their email campaign. 78% of customers gave positive feedback as well, even going as far as to use the word “love” to describe their brand experience. Cadbury is also highly successful in this realm, creating personalized advertisement videos for customers based on data-driven personal profiling. 90% of these ad videos are watched to completion, which is an enormous feat in a world of smaller attention spans.
Spotify has been one of the most successful companies to use hyper-personalization to drive more engagement from customers. Their famous Spotify Wrapped feature releases a carefully curated summary of each users' most listened to songs, artists, and genres at the end of the year. It even delivers a playlist for users so that they can quickly access all of their most played songs quickly. Users are encouraged to share their stats on social media platforms such as Twitter and Instagram, which generates a lot of buzz for Spotify each year. The volume of tweets about Spotify increased by 461% between the years 2020 and 2021. Interaction with Spotify Wrapped tweets also increased by 131%, which drives new potential customers into their sales funnel.
These success stories demonstrate how well brand customisation works to increase sales for businesses. Businesses may not only meet but also surpass their customer's expectations by utilizing AI to create the most personalized interactions with their brand as possible. The importance of this competitive edge can not be underestimated, as customers feel isolated from the companies they want to support when there is no consistent brand image.
