why personalisation is key to competitive advantage
DESCRIPTION
Why personalisation has become a top worldwide trend and what implications it will have on opportunities to grow businesses and brandsTRANSCRIPT
It’s not you, it’s me.Why personalisation can give
brands a competitive advantage
Did you know that on average we spend 120 hours a year looking at ourselves in the mirror?
We love hearing the sound of our own name…
…and even choose our partners who remind us of ourselves
Dale Carnegie rightly said:“Talk to someone about
themselves and they'll listen for hours.”
Admiring and talking about ourselves has always been a
bit of a taboo…
…until now
Blending in and keeping your head down is no
longer seen as a virtue
We want to be recognised for the individuals that we are and our
differences celebrated
Connecting to customers on a
personal level has become key to a brand’s success
“Attention is the rarest & purest form of generosity”
Simone Weil
Personalisation has become a top trend worldwide
Here’s a brand that’s done it particularly well
The campaign, as we know, has become a worldwide success
It earned a total of 18,300,000-plus media impressions, and traffic on the Coke Facebook site increased by 870%
The hashtag #shareacoke has been used 29,000 times on Twitter
Source: Marketing Magazine
“The success of the campaign lies in offering an affordable
personalised product that exists in the real and virtual world”
The Guardian
So what implications will personalisation have on brands and
industries in the future?
In a world obsessed with its own image, there is an opportunity for
retailers to engage their customers through
personalisation
Brands and retailers such as Net-A-Porter who can extend their offering to online recommendation or personalised styling service would appeal to time-poor customers
A good example is Stitch Fix which uses algorithms to select and send items according to customers’ profile without them having to spend hours browsing the virtual rails
What if an ‘online stylist’ concept can be applied to
retailers in other industries, such as food?
For online retailers such as Ocado, who operate in a competitive marketplace of
grocery shopping, personalised suggestions could pave the way to a strong competitive
advantage
Personalisation makes products more relevant to
customers
Which helps grow sales!
Conclusion
Brands who help their customers make a
choice that’s right for them become winners
in the long run
So by being personal and expressing your brand
through your customers
You are helping your customers express themselves through your
brand