Historically, companies have invested billions to personalise their customer experiences, yet business relationships are still failing because personalisation is lacking. In this report, Accenture considers ways that businesses can distinguish themselves using hyper-relevance, a strategy that aims to understand the evolving context in which customers make their purchasing choices.
Key points include
Only 22 percent of global customers acknowledge that the companies with which they do business tailor their experiences based on a deep understanding of their needs, preferences and past interactions.
Predictive analytics, artificial intelligence (AI) and machine learning are making it possible for companies to achieve new levels of insight into customer needs.
Securing trust is a prerequisite to achieving the promise of intelligent personalization. It is built up over a series of interactions. Yet, it can be shattered in seconds.
Companies that heed their customers’ concerns and shore up their trust quotient are more likely to persuade customers to share personal information.