Fast-moving innovation is a tricky thing. What was a surprise-and-delight experience for customers two years ago is now an expectation. And when that expectation isn’t met, it’s a big problem. For example, according to Forbes, 71% of B2C customers expect companies to deliver personalized interactions and 70% are frustrated when they don’t.
Personalization is the act of tailoring an experience based on information a company has learned about an individual. Basically, customers now expect to feel known. The good news is that personalization is a huge opportunity to build real relationships that drive retention, conversion and loyalty. It’s also a giant undertaking.