According to AdAge, Personalization is the use of accurate data known about, or provided directly from, an individual to be able to truly customize content, offers, journeys or ads directly to that individual on a one-to-one basis. This definition is very easy to understand but based on Cheetah Digital by Marigold research*, only about 24% of marketers actually power their personalization efforts with accurate zero-party data from known consumers. It is quite the chicken and egg situation. Marketers must leverage data to power personalization efforts, but customers are more likely to volunteer their data if the experience is personalized and offers targeted value exchange at the very moment they are interacting with the brand.
With this challenge in mind, we went back to the drawing board and looked at ways to help marketers collect data through contextually relevant experience that is in the right moment, at the right place on their website. As a result, Cheetah Real-Time Personalization and Marigold Grow teamed up to provide customers with new opportunities for real-time onsite acquisition, enrichment, and engagement.
Our Real-Time Personalization engine dynamically selects the Next Best Experience and displays it to the user at the right moment to help achieve the best possible conversion rate. The experience is selected based on a number of important criteria. Is the user known? Is it an unknown visitor or is it a known visitor that just hasn’t been identified at that time? User identity is tracked seamlessly from unknown to known, between all solutions in the Customer Engagement Suite.
Now you can show an acquisition Experience that collects only the most essential data points and offers clear value exchange such as a discount for first purchase to unknown users. And then progressively engage known customers with experiences that are more focused on collecting preference data around likes, dislikes and purchase intentions, to be able to give highly personalized recommendations, intelligent offers and to collect important data points for further personalization use cases in the future.
So why should you think about the right data-collection experience delivered at the right time and place?
- Deliver a highly personalized experience to ensure a strong response rate
- Differentiate between unknown and known consumers and offer relevant value exchange
- Offer more relevant experience to ensure your consumers feel heard and understood to build a strong lasting relationship
- Capture valuable audience data and marketing opt-ins for more accurate insights and analysis to power your personalization efforts
- Unlock advanced use cases to leverage all the power of Intelligent Offers, from rules to machine learning
The set-up of Next Best Experience solution is self-service. Get in touch with our team to get a demo….
*Use advanced personalization at a one-to-one level using known data, including predictive machine learning or AI – 23.8%, Cheetah #digital
