Consumers are demanding personalization: It’s no longer a nice to have, it’s an expectation. According to the McKinsey 2021 personalization report, 76% of consumers get frustrated when companies don’t personalize interactions. Even with consumers who love your brand, earning and sustaining their attention when there are so many other distractions throughout the day is extremely hard. That’s why it’s so important to be hyper personalized with the recommendations that you send them.
In fact, marketing campaigns that use predictive recommendations are 116% more effective than those that do not, according to our 2020 benchmark report.
Of course, it’s not viable for you to manually create personalized journeys with rich recommendations for each of your customers. That’s where the power of AI comes in to help retailers, ecommerce providers, and digital media and over-the-air (OTT) companies design and automate customer journeys with highly personalized recommendations – even if your customer base and the number of items in your catalog are in the hundreds of thousands or millions. That’s why I’m very excited today to unveil the expansion of our Recommendations Studio for easier, smarter personalization.