How AI-driven Hyper-personalization can Elevate your Business

How AI-driven Hyper-personalization can Elevate your Business

5 Jan 2022 | Team Wavelabs

Hyper-personalization is the process of tailoring to individual customer preferences using AI, specifically machine learning and real-time data. It delivers relevant content, products and services that are customized and unique and hence provide added value to the customer.

89% of digital businesses are investing in personalization
70% brands rely on advanced personalization, bagged 200% ROI and more from their efforts.

Why your Business Needs Hyper-personalization?

Increase in Revenue

Adopting a hyper-personalization strategy can help you drive your company’s revenue as a result of reduced barriers in the sales funnel and prevention of customer losses.

Improved Customer Retention

Increases customer attraction and retention by offering a unique journey and experience to every customer.

More Meaningful Conversations

AI-driven hyper-personalization tools such as recommendation engines and chatbots enable you to tailor conversations to customers’ needs and deliver a truly personalized customer service.

Improved Data Quality

Hyper-personalization uses real time, accurate data which can help you improve your data quality and achieve better data integrity.

Hyper-personalization Framework:

The hyper-personalization framework includes leveraging technologies such as AI, ML, IoT, and Big Data.
Following are the key functions of the hyper-personalization process.

How AI Creates a Personalized Experience?

With AI tools and technologies, you can create highly personalized experiences. Some ways in which AI drives hyper-personalization include the following.

Personalized Online Experiences

Using AI, you can create a better experience for your customers online. This can be done by implementing recommendation engines for targeted content and by creating microsites and personalized landing pages, among other things.

Contextually Accurate Data

For an effective hyper-personalization strategy, it is important that the data you collect is accurate and contextually relevant. Using natural language processing, sentiment analysis, and AI tools such as neural networks, you can unify unstructured data more easily and produce relevant and highly contextual communications.

Mobile Optimization

Today, most customers access the internet on their mobile devices more often than computers. AI tools and technologies such as chatbots, automated A/B testing for mobile apps, and unification of data across devices can help you adapt your data to cater to the needs of mobile users.

Leveraging IoT Devices

IoT adoption has changed the way you can connect with your customers. Using AI analysis, you can leverage the data and information that IoT devices provide, and ultimately create a highly optimized hyper-personalization strategy.

Conclusion:

Hyper-personalization goes a step beyond personalization by utilizing automation and advanced technologies to create highly relevant messaging. Hyper-personalization can help attract customers, drive profits, and reduce costs.

With the Wavelabs Insight framework, we can help your business craft a highly efficient hyper-personalized strategy using AI, data, and analytics.