A $2 Trillion Opportunity
In the age of AI, consumers expect the right products, services, and support to be delivered to them instantly, without hiccups, in just the way they want. For companies, this means learning the art of personalization. Across markets, at least 80% of consumers say they expect companies to use their data to personalize their experience.??
The rewards of getting personalization right are substantial. Leaders in personalization see their revenues grow 10 percentage points faster each year than laggards, and they receive higher customer satisfaction scores. All in all, $2 trillion in revenue over the next five years will shift to the leaders in this area, and personalization will likely be the most profitable result of the AI boom—if companies get it right.?
These insights come from a new BCG book by Mark Abraham and David Edelman , published by HBR, called Personalized: Customer Strategy in the Age of AI .???
The book demystifies personalization, distilling it into five promises consumers expect companies to keep in order to deepen customer relationships. These include “empower me,” “know me,” “reach me,” “show me,” and “delight me.” Delivering on each one requires a human touch and the right technology.?
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With the explosion in content we are seeing with GenAI, we are at a tipping point. Delivering on the five promises to curate just the right content for customers is more important than ever. Watch this TED talk to learn what businesses can do differently.?
I have a prototype for my invention, and over 2,600 people I’ve shared its benefits with have expressed excitement and said they can’t wait to have it. However, I’ve been struggling to connect with investors and present my PowerPoint to collegent Enterprise tech companies. Can anyone here help?
Great insights from BCG! Personalization is definitely the future, and at RILA GLOBAL CONSULTING, we help brands harness social listening and consumer insights to craft strategies that truly resonate with their audiences. #CustomerStrategy #SocialListening #Personalization #AI
Sr Manager- Operations & Ops Excellence | Lean Six Sigma Black Belt | Agile Project Mgmt | Business Analysis & Transformation | Quality Process Development | Client Transition Mgmt. | Organic Bus Growth | Ex Capgemini
2 周This is interesting and very insightful. All the promises are very crucial and evident in strategic customer delivery.
OK Bo?tjan Dolin?ek
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