At CES in Las Vegas, leaders from a variety of industries spoke about the importance of getting personalization right. Read this article from Inc. to explore opportunities for your business.
Why is personalization important for businesses in 2023?
Personalization is crucial for businesses in 2023 as it helps them stay competitive. At CES, various brands highlighted that offering personalized products and experiences can significantly enhance customer engagement and loyalty. For instance, Cameo has leveraged AI to create personalized video greetings, tapping into new markets, while Stellantis has seen its revenue double by providing tailored in-vehicle experiences.
How can businesses effectively implement personalization?
To implement effective personalization, businesses should focus on understanding the outcomes they want for their consumers. Instead of merely pushing advertisements, they should consider how personalization can enhance customer experiences and foster loyalty. For example, the Los Angeles Rams' CMO emphasized the importance of adding value rather than just increasing direct communication.
What are some examples of successful personalization?
Cameo and Stellantis are notable examples of successful personalization. Cameo has utilized AI to create personalized messages from animated characters, appealing to a new audience, while Stellantis has introduced in-vehicle software that personalizes travel experiences, significantly boosting their revenue. These examples illustrate how personalization can reshape customer engagement across different industries.
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