Why and How of Personalisation?

Personalisation has become a buzzword for present day online entities. There are many reasons that have contributed towards businesses relying on personalisation as an important factor to drive their business. Before we get into learning about the factors that are influencing businesses inclination towards personalisation, it is important to understand what personalisation means. Personalisation means understanding and catering to the customers needs, effectively and efficiently, in a timely manner to drive customer satisfaction in order to influence the customer to regularly to do transactions with the business.

As mentioned there are many factors that have contributed towards businesses wanting to personalise their efforts at providing products and services. In a study by Monetate and Econsultancy, 94 percent businesses mentioned personalisation to be an important factor for present and future success. So what are the contributing factors that have made nearly cent percent businesses look at personalisation as a quite essential factor for present and future growth.

Advent of the internet

The advent of internet and its use spreading among the general masses, was one trigger that drew businesses towards the idea of personalisation. The rapid growth in internet based economy made it mandatory for businesses to have an online presence. Online presence of businesses became a necessity for business owing to the surge in internet users, who for the convenience and 24/7 connectivity internet provided wanted to interact and transact online. The one click experience that connected the customer to the business of their choice, required a differentiating factor that would influence the customer to interact and transact with a particular business entity. influence customers to connect to a specific business entity overlooking the competition Personalisation emerged as a differentiating factor that could.

Increase in knowhow among customers

The advent of internet opened doors to a world of knowledge for customer who were till now dependent on businesses to share with them information on various products and services. Being equipped with a world of knowledge on products and services available to them customers became spoilt for choice. With the customers knowing well about products and services, businesses had to resort to personalisation to influence customers decisions lest they get swayed by competition.

Internet connected mobile devices

The increasing use of mobile devices to connect to the internet is another reason that has driven businesses towards personalisation. Internet connected mobile devices being personal devices that enables customers stay connected on the move gives customers access to anything and everything on the internet for customers when they so desire. In such a scenario personalisation is the key to connect with the customer.

Challenges business face with personalisation

While businesses realise the importance of personalisation and are keen to pursue the same, there are many challenges that is derailing their efforts.

1. Single view of the customer
Customers are interacting through many channels through their desktops, smartphones, internet of things etc. Businesses find it tough to connect an individual identity to the many devices he or she connects from thus impacting efforts at personalisation. Customers at their end expect business to recognise them no matter which device they choose to connect from and provide them with a personalised experience.

2. Technology
Businesses are either pressed for capital or with lack of technical know in regards to integrating technology that helps them understand their customer better. With limited technology businesses are unable to weave through a profile of their customer in order to serve them with personalised services and products.

3. Data
Data is an enabler for businesses as it is customer related data that provides business with the understanding about a customers likes, dislikes, gender, demography etc. Unreliable sources of data or inadequate systems to capture first party data deprives business of using data to its potential, restricting them from serving the customer a personalised experience.

Present day business developments has presented businesses with opportunities arising from cloud computing wherein a business can subscribe to software as a service. SaaS adds to a business's capabilities for a feasible cost without incurring heavy costs on infrastructure and maintenance. Customer Identity Management is a software as a service that as a solution can resolve multiple pain points for a business. As a SaaS registration service solution the foremost ability that CIM enables is the easy user friendly registration of users through email, considered to be the traditional method of registration or social login that enables a user to sign in or register using their existing social network ids. The registration services CIM equips businesses with valuable customer related data gathered through progressive data collection as well as data shared by the social network service provider when the user uses his social network id for sign in or registration. Apart from collection of valuable data CIM compiles the data and presents it as customer insights that complements the efforts of the marketing team in personalising their efforts as per the customers.