Predictive Personalization: Is it next big thing???
A very rare methodology in Digital marketing arena is Predictive Personalization also known as digital hospitality which is somehow a boon for both customers and the brands. If it is executed rightly it can really pump the bottom lines. But, before using brining this practice in action marketers really need to be really careful as mishandling of this practice might hamper customers’ privacy.
Predictive personalization offers capability to easily predict consumer behavior on the basis of previous actions performed by them online, thus allowing marketers to create really personalized customer experiences. A strong proof for the true values is the fact that in this ephemeral world of marketing and digital word of mouth, it is most prominent and popular. In order to execute predictive personalization as their marketing strategy marketers firstly need to segment types of activities that a consumer can take online while engaging with your website. Marketers need to recognize consumer’s next step and identify an explicit behavior. This explicit behavior can include sign up for newsletter, filling of a contract form, online order booking or spending specific time on a given page.
The personalization level can be leveraged due to technology available for marketers today.
This level of personalization is possible due to the advanced technology available to marketers today. Analytics is beyond simple collection of datasets and dashboards. It is actually door to huge opportunities to construct personal website experiences that long lasting in the mind of customers. These experiences are based on the way user visits the website. What is exciting about predictive personalization is that it enables extensive behavioral segmentation which wonderful not only for marketers but also for content design.
However, it is marketer’s responsibility to take analytics to desired level where they can create genuine personalized service without incurring cost of hampering user privacy and personal information in public platform.
As this advanced technology provides vital valuable information to marketers and content designers, there come an instance where there is strong urge to consider the consumer in scenario. The big question is that “Do online users really want websites that adapt themselves to predict the output of their visit? It is quite evident that data and insights obtained from these predictive personalizations are huge in number but, utilization of that data is quite risky as consumers are still wary of targeted ads and marketing tactics that know too much information about their behavior. A usual average user is not willing to be watched analyzed and tracked when they browse the web.
The demand of the hour is that marketers should bring in the practice of balancing the needs of the consumer with their own objectives. Before incorporating predictive personalization in their process marketers must ensure that they are offering something valuable in return for collecting personal data .From this way, predictive analytics can be beneficial for everyone involved in value chain including customers who will perceive tangible benefit by providing personal data and marketers are not only considered as Big Boss of the game.
In real life customer experience Predictive personalization looks quite interesting. A user could receive offers and relevant products via email after purchase and will shown ads on the basis of the content they have already read. All these attributes improves online shopping experience hence making it easier and cheaper. As long as Marketers can persuade consumers that sharing personal data will only improve their lives predictive personalization will be viewed as positive thing in this industry.