Personalization done right: The five dimensions to consider—and how AI can help
By: Abraham, Mark and Edelman, David C
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BookPublisher: Harvard Business Review Description: 102(6), Nov-Dec, 2024: p.104-115.
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Harvard Business ReviewSummary:
More than 80% of respondents in a BCG survey of 5,000 global consumers say they want and expect personalized experiences. But two-thirds have experienced personalization that is inappropriate, inaccurate, or invasive. That’s because most companies lack a clear guidepost for what great personalization should look like. Authors Mark Abraham and David C. Edelman remedy that in this article, which is adapted from Personalized: Customer Strategy in the Age of AI (Harvard Business Review Press, 2024). Drawing on decades of work consulting on the personalization efforts of hundreds of large companies, they have built the defining metric to quantify personalization maturity: the Personalization Index. It is a single score from 0 to 100 that measures how well companies deliver on the five promises they implicitly make to customers when they personalize an interaction. The authors argue that personalization will be the most exciting and most profitable outcome of the emerging AI boom. They describe how companies can use AI to create and continually refine personalized experiences at scale—empowering customers to get what they want faster, cheaper, or more easily. And they show readers how to assess their own business’s index score.- Reproduced
https://hbr.org/2024/11/personalization-done-right
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Articles
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Indian Institute of Public Administration | 102(6), Nov-Dec, 2024: p.104-115 | Available | AR133988 |
More than 80% of respondents in a BCG survey of 5,000 global consumers say they want and expect personalized experiences. But two-thirds have experienced personalization that is inappropriate, inaccurate, or invasive. That’s because most companies lack a clear guidepost for what great personalization should look like. Authors Mark Abraham and David C. Edelman remedy that in this article, which is adapted from Personalized: Customer Strategy in the Age of AI (Harvard Business Review Press, 2024). Drawing on decades of work consulting on the personalization efforts of hundreds of large companies, they have built the defining metric to quantify personalization maturity: the Personalization Index. It is a single score from 0 to 100 that measures how well companies deliver on the five promises they implicitly make to customers when they personalize an interaction. The authors argue that personalization will be the most exciting and most profitable outcome of the emerging AI boom. They describe how companies can use AI to create and continually refine personalized experiences at scale—empowering customers to get what they want faster, cheaper, or more easily. And they show readers how to assess their own business’s index score.- Reproduced
https://hbr.org/2024/11/personalization-done-right
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