Our expectations (and demands) as a customer are ever increasing. We crave a personal and customer-centric approach in our interactions, both inside and outside of the workplace. We want to interact with organizations when and where we want, using a device and channel that is most convenient, whether that's social media, email or on our mobile device.
In a recent study by PwC's Digital Services Group, 94% of senior-level executives believe that delivering personalization is critical or important to reaching customers. Failure to personalize messaging and offer different experiences to meet the needs and expectations of a diverse customer base is crucial. In both a professional and personal capacity, I would be inclined to agree.
The beauty of personalization is that it build relationships and increases the number of touchpoints with the customer - which is great! A customer-centric approach creates a wealth of new customer data and establishes and strengthens relationships - however, a word of caution... this valuable data must be utilized properly, which gives rise to additional challenges surrounding data capture, data management and the dreaded area of data privacy.
There are a number of really interesting facts and figures in this 14 page PwC study, which you can download in full here: http://www.pwc.com/us/en/increasing-it-effectiveness/forrester-customer-personalization-power-download.html
With these rising customer expectations and challenges, personalization based on the most appropriate customer data and applied across all the channels that customers use to interact with companies becomes essential to win, serve, and retain customers.