Personalization for Marketers:The value of getting personal

Vassilis Giannakopoulos

Marketing Management SciFY.org

Α SciFY Academy presentation“Sharing knowledge, we become better”

This work by Vassilis Giannakopoulos is licensed under a Creative Commons Attribution-ShareAlike 3.0 Unported License.Based on a work at www.scify.org.

Personalization: A new concept?Let’s see a 30 sec video…

Probably the oldest concept in the history of trade➔ Get to know the customer➔ Offer what (s)he likes➔ Get personal, Get paid for it.

Yet, e-commerce used to lack this feature➔ Personalization solutions are usually expensive➔ You need to invest Time, and Time is precious➔ …Well, Time and Attention are precious for the

customer, too

Must offer Value for Time and Attention

“One to One” Marketing

Personalization: What?Personalization: Delivering targeted content Based on user behaviors, preferences and

provided user-related information.

Personalization technology enables the dynamic insertion, customization or suggestion of content

in any format that is relevant to the individual user,

based on the user’s implicit behaviour and preferences,

and explicitly given details.

Personal level,Self-relevant

Products, text, images...

Sites, e-mails, apps, kiosks...

Behaviour and disclosed info

Personalization: A commodity ?We cherish it online every day…

…and consider it a standard Social Networks (Youtube, Facebook, Twitter) E-shops (e-bay, Amazon…) News sites...

Yours ?

Is becoming a standard

Offers Value for Time

Offers Value for Attention

Too late in,means lagging

dangerously behind

Personalization: The valuefrom a marketer’s standpoint

Get Personal…and get more

Personalization: The benefitsOffer services and

content (news, suggestions, images…)that are self-relevant

Learn customer behaviour and act accordingly

- Increase customer / user engagement- Increase conversions

Incorporate acquired knowledge in the Marketing Mix

Become more competitive:responsive and cost-efficient

Positive results vary depending on variable and mix

Personalizing Online: The valueCustomized suggestions

Interesting content

+ Timeon site/app

+ Pages visited

Ad model + Ads seen + Clicks

Sell online

+ Chances to sell

Right Mix ?

+€

Branding

Authority…

Site visits

+ Social sharesSharable?

Self-Relevant Content

Personalizing: For the offline storeCustomized suggestions

Interesting content

e.g. From newsletter / site

Visit the store

+ Chances to sell

Right Mix ?

+ $ales

S elf-Relevant Content

Customer Profile knowledge

from analysis

e.g. Customer brings coupon that reveals identity and profile

Personalization:Key Success FactorsGet Personal…and get more

Key Success Factors Choose the right solution

✔ Powerful, adaptive, easy start

✔ Work with an expert

✔ Keep costs low (e.g. PServer)

Get to know your customers; one step at a time

Adapt your mix to your customers’ preferences✔ Use knowledge across all channels (e.g. site, newsletter…)

✔ Personalize using more ways (e.g. responsive design)

Start small, keep learning and adapting✔ Measure, plan, try, learn, adapt

The value of being close Personalization is becoming a standard service

It offers Value for Time and Attention

Huge potential

Clear benefits (monetization, engagement…)

Easy start

You need some time to fully exploit it

You can start now Or wait for the competition to do it first...

“Sharing knowledge, we become better”

SciFY Academy