In today’s crowded market, it’s become normal for customers to expect a certain level of personalisation from brands and businesses, in exchange for their custom, loyalty, and their data. So, what do brands and businesses need to know about achieving this in 2024 and what lessons can we learn from the past to take into the future?
As technology continues to develop at an exponential rate, more and more opportunities are emerging for brands and businesses to delve deeper into providing personalised experiences at scale.
These developments allow businesses and brands to tailor their offerings, enhancing customer satisfaction while nurturing meaningful connections with their customers.
This heightened level of personalisation not only elevates the overall customer experience but also lays a foundation for enduring loyalty and engagement, fostering a symbiotic relationship between brands and their audiences.
Robert Limb, CEO of TRACK, says despite the allure of cutting-edge innovations, the crux of the matter lies not just in adopting new tools but in using existing technologies to their full capabilities and fostering creativity into personalisation across multiple channels.
He says there will be few technologies available that will be as effective in terms of personalisation as simply working to ensure the ones businesses already have are working to the best of their capability to connect across multiple channels and multiple journeys. He adds that businesses would do well to invest energy into bringing personalisation through those channels.
“The challenges that new technology options provide in 2024 will be (a), adding complexity and (b), adding cost in a tough economic climate when ‘do more with less’ is a common mantra,” he says.
“Forrester (research company) noted recently (‘A Technology Overview of Consumer Personalisation’, June 2023) that a key challenge ahead of us is the ‘Tech Coordination’ of the many discrete technologies that we already have.
“I think that the challenge (and the opportunity) of personalisation today relates so much more to strategy, execution and proving value. So, in 2024, be wary of being distracted by the possibility of yet more technologies, and the promises that your enthusiastic software partners will make of them.”
He encourages people to ask themselves one question: “What channels do our customers use, to what ends, and what do they want to be communicated about in those channels?”
He says this is less about what methodologies people should adopt, and more about prioritising asking those questions in the first place.
“We don’t lack, by and large, for decent data analytics or research methodologies, but we do sometimes lack for the discipline to keep our attention on our customers and to consider the questions that will unlock value.”
Rob says these observations are based on his experience in 2023, which was that the challenges facing many organisations around personalisation have less to do with investing in more technology, platforms and methodologies than was done in previous years.
The year 2024 looks to require a shift in focus from more tech investments to harnessing the technology and skillsets of personnel to execute impactful, noticeable, and genuinely personalised experiences for customers.
“It’s time to ask how we can better apply the technology and the skills of our people to ensure that we now execute on the promise of personalisation in ways that are joined up and that get noticed and even feel special to our customers,” Rob says.
He stresses that much of what passes as personalisation is simply unnoticed by customers, which means businesses have to execute with impact to ensure that tech and data investments are not going to waste.
He adds that “AI-powered personalisation will outstrip traditional personalisation in e-commerce” in 2024.
“There are plenty of vendor-sponsored articles on the web that will tell you more about that. But for most of us, the key in 2024 will be to get to back to the core, namely to the needs of the customers whom we serve (who have universally had a tough time in 2023) and the commercial interests of our leadership teams (more focused
now on cost-out than cost-in), many of whom are still waiting to see a dividend from their personalisation investment.”
According to Rob, the landscape of personalisation in marketing for 2024 looks to demand something of a recalibration. While keeping an eye on emerging trends and technological advancements is crucial, Rob believes the focus now should rather be on individualised strategies, customer-centric approaches, and execution that stands out.
Understanding what your customers want may serve you better than any new tech.
“Keep an eye out for what is next and read this article with interest, but put your own strategy, your own customers and your own path to execution centre stage in 2024.”
