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Perspective: A Myriad of Factors Drive the Growth of Consumer Personalization

Previously, we shared insights from our Innovation Exchange members on what personalization means for both consumers and businesses. Today, we share their thoughts on what is driving the growth of consumer personalization. Are consumers demanding more personalized experiences or are they simply responding favorably to ones they encounter? What roles do mobile technology and social networking play in whetting consumers’ appetites for personalization? As companies adopt personalization strategies more broadly, they should think beyond the dynamics of marketing to consider the potential that personalization has to impact operations across an organization, and even influence relationships with business partners.

Members share their thoughts:

“I see consumers responding to personalization more than asking for it. Amazon is a leading retailer in terms of personalization, yet I don’t know one customer who goes to Amazon primarily because of their ability to personalize their experience. Instead, Amazon seems to feel that it is more effective for them to learn what you do and adjust your shopping experience around your behavior, as opposed to getting you to actively personalize. The more you automate personalization through big data analysis, the better. The more effortless it is for consumers, the better.”
Eckart Walther, Chief Executive Officer, CardSpring

“Mobility is clearly important to consumers. Consumers take advantage of mobile capabilities that are available to them, whether it is mobile ordering, mobile payment, mobile product searches, or even browsing a menu. Mobile will likely have a big impact on restaurant experiences in the future. We need to be thinking about how we manage that experience and how we make it unique for our customers.”
Melody Roberts, Senior Director, Consumer Experience Design Innovation, McDonald’s

“I do agree that mobile personalization strategies need to be much broader than geo-location impulse buys. People do plan – for meaningful experiences, for budget, for time. So many of the mobile apps we’ve seen to date have been very temporal and “of the moment.” While there’s a role for that in personalization, it’s more compelling to think about enduring connections. Whether you’re a bank or a retail brand, look for those really meaningful and intimate engagement opportunities that last longer than an impulse.”
Larry Drury, Chief Marketing Officer, First Data

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