Lessons from Leading Brands: The Three Competencies of Personalization

By Evan McGonagill

February 12, 2018

Most business leaders know that personalization is important, but not all are aware of the high stakes involved: a recent study shows that in the retail, healthcare, and financial services sectors alone, the top 15% of companies that master personalization are set to gain a whopping $8 trillion over the next five years. If you don’t want to be left in the other 85%, it’s time to get serious about advancing your personalization efforts.

The best way to find your way to the top is to learn from those that are already there. In a new white paper from Monetate, The Three Competencies of Personalization: How Leaders Are Succeeding in an Uncertain World, we lay out key lessons from leading brands and maps a pathway forward for organizations at any stage of personalization implementation.

Our biggest takeaway: the top leaders in customer experience and personalization have all demonstrated competence with three techniques: Testing Optimization, Segmentation, and 1-to-1 Artificial Intelligence.

It’s not about selecting the “best” of the three techniques, and there’s no one-size-fits-all solution: in fact, the synergy of opportunities and capabilities between the competencies is strongest when they are used in conjunction with one another. We found that leading brands achieved the strongest results by applying all three techniques in varying combinations depending on their goals, available resources, and business priorities.

Limitations like time pressures, data availability, staff, and skills might influence which option is most appropriate for your organization—but the report makes it clear that the more proficient you become with the three competencies, the more successful you will be building richer customer relationships and achieving your business goals.

In the white paper, you will find:

  • The 3 competencies shared by the most advanced brands in personalization
  • Real-world examples of how specific companies have leveraged the competencies to achieve results
  • The 6 step roadmap to personalization success
  • Guiding principles and common mistakes to avoid

Follow the steps taken by leading brands to increase the scalability and flexibility of your marketing efforts: download your copy of The Three Competencies of Personalization today.

Evan McGonagill is a content writer for Monetate, where she researches and produces whitepapers, blog posts, and other material about commerce and personalization. Evan has a background in libraries and archives, and she uses her interest in the structure and flow of information to think about how brands can harness data to build more personal connections with their customers. When she isn't in the library or learning about personalization, you can find her playing music in West Philadelphia.

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