Everywhere you look in the marketing world, you'll see the word 'personalisation' bandied about. It's a powerful tool for influencing consumer behaviour, yet true personalisation of products and services is only just beginning to emerge. Much of this is due to the high levels of work involved that's needed to provide solutions that are specifically based around the unique traits of an individual.
AI is changing that.
What is mass personalisation?
Forget personalisation as you know it. AI is allowing companies to provide products and services that are tailored to their customers on a scale that's currently impossible to imagine.
The current form of personalisation used by businesses is still similar to a blunt tool. For example, you'll often find that consumers are segmented into different marketing personas and content is created around those. Another option is that product and service selections are generated using an algorithm based on the consumer's previous choices. While some form of tailoring occurs, it's more a mass consumption of the idea of personalisation, rather than true mass personalisation.
However, with AI developing, companies are getting the resources that allow them to customise their products and services in response to individual needs, wishes and traits. Instead of bulk tailoring, personalisation is becoming a fine-tuned process, where mass produced items or services are individually modified for each customer.
Mass personalisation will create unique customer experiences based around the individual.
How companies might use AI to provide mass personalisation
As AI improves as a tool, its ability to analyse behaviour and automate changes based around what it's learnt gives businesses the opportunity to create innovative ways of applying mass personalisation.
For example, Netflix is already looking for ways that it can further develop how it mass customises its services. The streaming network is working to create an AI platform that personalises the movie trailers you watch based on your streaming habits.
Consider your website, and an individual that's visited it before. Mass personalisation could allow your whole site to adapt how it appears to the user based on what content and interests they demonstrated last time they browsed it. Instead of generalised offerings, they'd see topics and services that are most relevant to them, catering to their needs and improving your chances of bringing them on as a client.
AI is changing how business is done. In order to stay in the game, it's important to keep on top of your digital transformation. If you'd like to know more about mass personalisation and how you can implement it within your company, reach out to the team at FinXL today.