Joakim E. Andresen
August 7, 2024

Customers favor businesses that get this one thing right

Customers favor businesses that get this one thing right

In a world of choices, personalization has shifted from a luxury into an expectation. Imagine a world where every interaction, from the simplest transactions to the most complex services, feels tailor-made just for you. This isn’t some distant dream - it’s rapidly becoming a reality.

According to McKinsey, 71% of consumers expect personalization, yet even more - 76% - get frustrated when they don’t find it. Generally speaking, the more options we have, the less likely we are to make any decision at all. In this complex landscape, personalization acts as a guiding light, helping consumers to navigate their choices and enhance their overall satisfaction. However, personalized services are not limited to B2C; they are crucial in B2B2X contexts, extending to include partners, distributors, and internal stakeholders as well.

Customers favors those that get it right

Personalization is no longer optional - it’s necessary for meeting modern user expectations. On top of that, when businesses can understand and adapt to the unique context of each interaction, they not only meet but exceed customer expectations, leading to deeper connections, heightened satisfaction, and increased loyalty. Those who get this right will not only survive but thrive, as customers naturally gravitate toward businesses that truly understand them.

Navigating the challenges of service personalization

A robust data strategy is a major differentiator in a competitive market, yet it's challenging to achieve due to practical issues rather than a lack of vision or investment. Data is often siloed and underutilized due to perceived risks, and source systems are typically record-based, preventing a holistic view of customer interactions. Additionally, organizations struggle to build quickly and securely.

Beyond foundational data issues, businesses also face challenges in understanding the context of end-user actions, which is crucial for delivering personalized services. Capturing and dynamically using context-specific, time-sensitive data is essential, as the inability to capture and dynamically use this data in user sessions means that the goal of delivering authentic personalized services remains out of reach.

The inability to properly combine data, understand the context in which it is to be used and trust that this data is secure for use severely limits the potential for organizations to differentiate, grow and deliver.

Context is key: Unveiling the bigger picture

Personalization in service delivery is all about tailoring services and interactions to meet the unique needs and preferences of each customer. In order to give everyone the attention they deserve, you need access to the complete picture of your customer, the approval and safe use of data associated with that customer and the ability to understand the context in which they are interacting with your services. Hence, you need to get the right information, at the right time and in the right context. Graph forms the frame in which this is possible but digital identity provides an additional core service to both understanding situational relevance and executing against it. Without situational relevance and embedded native identity workflows, customer experience cannot move past siloed experiences.

Through native identity workflows, you achieve a full understanding of the context in which a customer is interacting with your services. With rich insights, building experiences that choose the right instance of data for the context is easily solved.

Ready to elevate your customer experience?

Enabling personalized services requires more than just understanding customer preferences - it demands a sophisticated approach to data management and contextual awareness. As businesses strive to offer tailor-made interactions, the ability to capture, connect, and control context-specific data becomes critical. This involves not only breaking down data silos but also implementing advanced identity workflows to ensure data is relevant and actionable in real-time.

To learn more, download Enabling your business to build personalized experiences E-Guide

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