Seems like a pretty simple concept right? It’s actually a lot harder than you think. While personalization is set to push a revenue shift of some $800 billion to the 15% of companies that get it right, no one ever said it would be easy. And all the kumbuya’ing around the fire about believing in the strategic value of personalization won’t change the fact that companies are still struggling to turn their visions of individualized experiences into reality.
In my day to day consulting work with Fortune 500 companies I see the same set of problems arise from the grave like some sort of corporate zombie. These problems present themselves as people, process, strategy, data, and cultureover and over again.
As my friends at Dynamic Yield like to say, “The problem is, with too much weight put on the technology behind personalization and not enough on the foundations needed to build and scale a successful program, organizations are finding themselves stuck in the trough of disillusionment phase on the Gartner Hype Cycle.”
The idea of a personalization program is a complex field with lots of moving parts and various potential applications that transcend marketing channels, without a proper ecosystem and team built around it, even the most comprehensive personalization tool will flounder to drive meaningful results.