How Hyper Personalization Improves Customer Loyalty

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How Hyper Personalization Improves Customer
Loyalty
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• McKinsey found executive teams that make
  extensive use of Hyper-Personalization and
  Predictive analytics to influence their business
  decisions to see a 126 profit improvement over
  those who dont. Instituting a loyalty program
  using the right analytics can improve customer
  appreciation and increase sharing between clients
  and those closest to them.
• Although innovations such as Artificial
  Intelligence (AI) may be trending, it should not
  overshadow the value of data found in the
  Customer Experience (CX).

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• The main goal of loyalty programs is to increase
  customer retention. You want to turn customers
  into patrons and have them continue using your
  Brand after their initial purchase. For business,
  higher retention rates mean a steady flow of
  bottom-line revenue, which cuts costs when
  acquiring new customers. This is precisely why
  your loyalty programs must be highly effective
  and serve a real purpose.

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• By fusing data with retention strategies to
  provide your customers with the best experience,
  you can dynamically increase your revenue and
  impact your teams approach to reach potential
  buyers. Now, influencing customers to become
  loyal isnt a magic trick. It just requires data
  you more than likely already have thats only not
  being used to its full potential. The beauty of
  loyalty is that regardless of your industry, most
  organizations have mounds of useful data.

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• Take this data and assign team members to analyze
  your most valuable customer data points and begin
  to uncover the correlation between purchasing
  behavior and customer characteristics to find
  commonalities to infuse with your sales and
  marketing strategies.

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Fine Tuning The Customer Experience (CX)

• Dont Get Distracted With Shiny Objects
  Innovate With Real Data.
• Recent studies show almost 40 of CMOs believe
  AI will be the biggest game-changer moving
  forward, but the rush to utilize AI technology
  shouldnt discount data readily available.

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• Social Media Is An Untapped Data Source
• Brands struggle to manage virtual channels for
  Digital CX, such as Social Media. Many run before
  they walk, investing capital in advanced
  data-centric technologies instead of exploiting
  the value of readily available social media data.
• Customers desire to interact with Brands via
  Social Media. Yet, Brands remain slow to embrace
  social media channels and the data it provides,
  such as a real-time perspective of what their
  audience cares about. For many, this data source
  remains untouched.

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• Know more about How Hyper Personalization
  Improves Customer Loyalty
• Visit
• https//www.groupfio.com/how-hyper-personalization
  -improves-customer-loyalty/