Hyper-Personalization is the future of Customer Experience and Customer Experience dictates the level of Customer Engagement. Customer Engagement turns Prospects into Passionate advocates.
“It’s not the biggest of brands that will survive in the Engagement Economy, but those that engage the most.” – Engage to Win by Steve Lucas, CEO, Marketo
For companies looking to succeed in the digital age, it is critical to understand this inter-dependency between Hyper-Personalization, Customer Experience and Customer Engagement.
Hyper-Personalization starts with Empathy. It goes through Customer Experience followed by Customer Engagement and ends up with Customer Success resulting in increased revenues, market share, stickiness, loyalty & improved business efficiency.
Hyper-Personalization is fast becoming the golden ticket for success in the digital age. Year 2019 would be marked as the beginning of the hyper-personalization era where executives from many forward-thinking companies have started going out of their way to create these hyper-personalized experiences for their customers.
Hyper-Personalization is about serving the needs of the individual customer in real-time with full understanding of the individual customer’s history, preferences and goals in the current context.
The goal is to provide personal service for millions of customers by significantly reducing or eliminating the need for humans in the loop.
Both Content and Communication become exponentially effective in the right Context.
Hyper-Personalization comes from active listening, interactive learning, remembering and understanding the history of the individual customer, proactively responding and adapting to the preferences and goals of the individual customer.
Do not confuse Hyper-Personalization with Pretend Personalization. Pretend Personalization is a parameter based personalization where First Name or Address are replaced dynamically while serving the same content for everyone in a given demographic. De-Personalization is more authentic than Pretend Personalization.
Current approaches for Personalization using big data are fast approaching their limitations, (The Promise & Peril of Personalization) merely using the name of the person or the demographic category or the transactional history isn’t enough to best serve the customers anymore. As an example we shouldn’t be paying more for our insurance just because of our demographic category with very little regard to the actual individual. With lower levels of engagement from customers, the current approaches for Hyper-Personalization at best turned out to be ineffective and drain on resources.
Every industry from Automotive to Aerospace, Financial Services, Real Estate, Software, Hardware, Banking, Insurance, Manufacturing, Media & Entertainment, Energy and Healthcare is poised to be disrupted by hyper-personalization trend. Here is an image from CapGemini consulting on Hyper-Personalization based on context.
A Radical New Approach:
Conversational AI Makes Hyper-Personalization @Scale a Reality
Hyper-Personalization plays a critical role across the full customer life cycle—acquisition, customer experience, customer engagement, purchase size & frequency, cross-sell, up-sell, and churn prevention, among other things.
Conversational AI technology re-defines Customer Experience and Engagement by offering Hyper-Personalization capabilities at scale. Conversational AI assists, amplifies and augments customer’s intelligence.
What if Conversational AI technology for your brand can be be hyper-personalized for each user based on their context?
On the one hand it will be extraordinarily helpful for the users where they can now interact with your product through talk or text from any device to get the tasks done with your product, this AI assistant remembers what user said or did with the product, understands the context, learns interactively, allows user to set new alerts or new rules just by talking to it, it’s there 24×7 always ready to help as it becomes more and more personalized radically transforming the customer experience.
On the other hand,
Imagine what companies can do with the real-time deeper contextual understanding of the customer?
You are literally capturing the ‘Conscience of the Customer’ contextually and this can be used for operational alignment internally and externally with vendors.
Accenture predicts that in three years, more than half of your customers will select your product based on your AI instead of your traditional brand. With each customer interaction, Conversational AI agent becomes more personalized, powerful, and natural.
AI becomes your digital spokesperson.
According to a recent study by McKinsey Convenience and Personalization are identified as two of the top drivers to engage customers in the digital age.
So, what does hyper-personalization with conversational AI mean in a B2B scenario? Here’s one way to sum it up:
No User Left Behind.
Most users experience frustration when they aren’t able to do what they need to do quickly and effectively using a software system even after attending several user training sessions.
When it comes to enterprise software applications, one of the major complaints from users is that they are too complex to use, and software application vendors say that over 60% of the features are rarely ever used.
What if every software application comes with an Adaptive Intelligent Assistant that continues to be hyper-personalized to the user by actively listening, learning, understanding, responding and adapting to the needs and goals of the user?
Such an Adaptive Intelligent Assistant would help software vendors gain unique insights about users and engage them contextually, cross-sell and up-sell them exactly what they want, reduce the churn and increase their stickiness.
Customer engagement is more than data-driven analysis; it’s about understanding the intangibles of human motivation and encouraging customer behavior to create more rewarding journeys. Only with deeper understanding of the user’s context can companies make the most of the relative value of different rewards to different people. One size doesn’t fit all. If businesses want to truly become a valued part of their customer’s lives, hyper-personalization is the answer.
How about a Personalized Analytics Assistant (Co-Pilot) for Analytic Users? An analytics user with a co-pilot can now say: Always run this report for me every morning and show it to me in a bar graph. Send me text on skype the moment my sales numbers go over $10M. Run the same report you ran for me last week but exclude Texas this time and so on.
Some of the other B2B use cases include: A Co-Pilot for Enterprise Software Application Users including ERP, CRM, Finance, HR, SCM and others. And these applications could be SaaS or Hosted or On-premise. A Personalized Sales Assistant for Sales Personnel.A Personalized HR Assistant for Employees. A Personalized Service Assistant from IT-Helpdesk. A Personalized Medical Assistant for Healthcare professionals and more.
What does hyper-personalization mean in a B2B2C scenario? Here’s how I would sum up:
No Customer Left Behind.
Today’s consumers expect increasingly individualized experience. In entertainment as an example, this trend that has led to revenue declines in traditional entertainment segments like movie theaters and on-demand rentals. In response, industry leaders are exploring cutting-edge solutions built on AI and machine learning technologies. These early efforts point to a highly personalized future that moves far beyond today’s recommendation engines to individualized content experiences.
With AI supporting new forms of entertainment in virtual and real space, the future of entertainment looks to be a highly personalized one.
What if your entertainment device came to you with an Adaptive Intelligent Assistant that continues to hyper-personalize experiences for you by actively listening, learning, understanding, responding and adapting to your needs and goals.
Such an Adaptive Intelligent Assistant would help media, communications and entertainment companies gain unique insights about users, features and engage them contextually, cross-sell and up-sell them exactly what they want in the right context, reduce the churn and increase their stickiness.
Some of the other B2B2C use cases include:
A Personalized Gaming Assistant for gamers of a particular game. A Personalized Entertainment Assistant for Customers. A Personalized Life Style/Health Assistant for Customer. A Personalized Podcast Assistant for Customers. A Personalized Home Concierge Assistant for Consumers. A Personalized Customer Service Assistant for Consumers. A Personalized Mortgage Service Assistant for Consumers and more…
If AI is the new electricity, then Hyper-Personal Natural Language Interface would be the new electric switch.
Electric switch enabled electricity to reach the masses.
Hyper-Personal Natural Language Interface would help AI reach the masses.
When you focus on the context of the conversation, the technology disappears.
Are you one of the forward-thinking organizations that is looking to transform your customer experience with a hyper-personalized AI assistant?
Are you looking to ‘Transform Customer Experience’ to increase customer engagement continuously throughout their life cycle?
We’d love to hear from you.
I want to sincerely thank Peter Voss for helping me with the article.
Aigo (say I-go) is a Revolution in Intelligent Assistants.
Aigo.ai is the Most Advanced Natural Language Interaction Platform built on human-mind like Cognitive Architecture. Aigo is at the forefront of the next wave of AI evolution ‘Conversational AI is the new UI’ .