(read the story)
On the same theme as retail: Modern commerce brands are changing the game and marketers need artificial intelligence to compete. This article, by Brian Solis (Twitter: @briansolis), dives into some overwhelming stats that reveal what many of us in marketing already know.
Read this excerpt and be scared… brands are STILL struggling with personalization and a true single view of their customers:
“…only 14% of companies rank themselves as “strong” in achieving a single view of the customer, and less than 10% of top tier retail brands say they’re highly effective at personalization.”
A few key points from the article:
— We have too much data (or more importantly, data without a clear understanding of just what data we truly have)
— Lack of a single view of the customer (caused by too much data on too many systems because we have built “frankenstacks” of technology that silos the data [I feel like data silos were something that we were supposed to have solved years ago!!]) It’s not easy, trust us, it’s what we do here at Blueshift!
— It’s not about removing the gut/guesswork, in-so-much as it’s about systematizing the way we test and measure our hypothesis with diligent A/B testing and powerful analysis performed with machine learning and AI.
Whatever you call it (Extreme Personalization sounds like a new Mountain Dew flavor), marketers brands must transform the way they engage with their customers. It takes an organizational shift, not just a goal for the marketing department.