Exploring the core of personalization strategies in various dimensions of digital space

In the 21st century, we have witnessed some of the greatest advancements in the domain of personalization. This has been particularly helpful from the point of view of business analytics and intelligence. We have also witnessed the sprouting up of new and innovative digital niches that are directly or indirectly influenced by the techniques of customer personalization.

According to a research survey by McKinsey, about one-fourth of the digital enterprises made use of personalization strategies and customer segmentation analysis. Let us now explore the different facets of personalization in deeper detail.

Dimensions of digital space

Different types of surveys that directly or indirectly included customer personalization as a theme found out that personalization assisted both the online and the offline ventures of an organization. When we look at the survey results of the offline ventures, we find that around two-third are yet to adopt personalization in a full-fledged format. As far as the online firms are concerned, almost three-quarters are those that already have some form of experience with personalization. When we look at the results of customer segmentation analysis, we find that segmentation is most likely to be adopted by those companies whose customer base is majorly using online digital platforms.

A detailed overview of strategies

Customer analytics has substantially improved in the last ten years. With the aid of modern business technologies, immersive customer experience has become the order of the day. To take this experience to a new level, here are some of the strategies for the purpose of personalization.

Marketing platform

For the purpose of marketing, we use various datasets for effective engagement. We can also resort to sending personalized emails as this would help in the creation of meaningful and thought-provoking designer concepts.

That said, data is the foundation of every marketing strategy. But the data type is essential in determining a particular business marketing strategy. Meanwhile, we describe five different stages which are common to almost all marketing strategies. The first stage is called the acquisition stage while the second stage is called the engagement stage. The third stage is referred to as the dynamic stage in local terminology. Next in line is the activation stage followed by the conversion stage.

Data types

Let us now explore the different types of data which can be collected for effective personalization processes. First in line is the Firmographic data. This involves the aggregation of all the data points which feature any information related to the company name, industry, revenue, and the corresponding sales stage. Another type of subcategory in the data collection process is demographic data. This includes information related to name, age, gender, location, contact, and the like. Next in line is the data related to behavior that includes activity on a particular website, the interest shown for a specific webpage, or alignment to a category of products on an e-commerce website. We also have a special category of contextual data. This category of data includes unique information related to specific background and properties of the browser, the type of device in use, and other contextual facts.

It needs to be noted that the collection of demographic and contextual data is entirely dependent upon the response of the customers. Responsive and agile customers are the ones who are targeted the most for the purpose of marketing.

Personalization via email

Email marketing is a full-fledged science. It not only involves personalized newsletters and poster messages but also involves customized campaigns. Let us look at some of the ways which help in email personalization. It is important to use specific names instead of using generic names. We may also like to use a communication language which makes interaction personal. This means that we need to refrain from messages which are generated by chatbots. Lastly, we may like to generate targeted content and send it to customers who are grouped into specific clusters. One of the best ideas to group customers into various clusters is by generating a segmented list of contacts.

Concluding remarks

There are other types of personalization like sales personalization. No matter which type of personalization we talk about, the idea is to tailor our marketing strategies to the needs of the customers. Indeed, the number of challenges associated with such strategies is huge. But the resolution of such challenges and advancements in personalization can pave the way for successful marketing campaigns.

At Algoscale, we are helping businesses translate their data into meaningful and actionable insights. We serve different industry verticals by creating highly customized solutions that meet our client’s needs precisely. At the heart of every solution we provide, lies our team’s utmost dedication to deliver the right solution to our clients. Write to us at askus@algoscale.com.

Data Science | Big-Data | Product Engineering @ Algoscale