Personalization is King of the Market
The spring 2021 issue (March/April) of INC magazine dedicated four pages (38-41) to Jeff Bezos’ obsession of customer service: “… the number one thing (‘principle’) that has made us successful, by far, is obsessive, compulsive focus on the customer” (p. 38).
Humorously, he added,
“Don’t be afraid of our competitors, because they’re never going to send us money. Be afraid of our customers, because they are the folks who have the money.”
In other words, focus your worry on where it really matters.
Colin Bryar and Bill Carr’s 2021 book Working Backwards guides the reader through Jeff Bezos’ 14 Leadership Principles, Amazon’s “living, breathing constitution.” The principles are based on passionate customer service, as defined in one of Bezos’ own quotes:
“The most important single thing is to focus obsessively on the customer. Our goal is to be earth’s most customer-centric company.”
This book reveals the reasons for its success, Bezos’ insightful genius, and what it means to “Being Amazonian.”
Ari Soffer wrote an article for Leadspace.com in 2019, 4 Ways Marketers Will Use AI in 2019, with this opening paragraph:
“With the rapid growth of machine learning technology over recent years, it is hard to turn a corner today without hearing about artificial intelligence and its disruption of nearly every industry imaginable. From aerospace to automotive, healthcare to human resources, AI continues to bring new possibilities for efficiency.”
One of the greatest and most profitable reach of Machine Learning has been demonstrated by Amazon’s impact on customer service – it’s “the customers who have the money.” AI’s reach is Personalization – knowing each customer by name and predicting each person’s preferences, exploding the personal market as never before. “Marketers have found personalized outreach to be 14 percent more effective.” Soffer explains:
“When armed with that high-quality data, the ability for AI to reach your customer expands dramatically, and not just in the traditional ways we have grown accustomed to; AI is opening doors for new conversations with customers like never before.”
AI has the tools to collect the data it needs to learn everything it needs to know about the customer, beginning with chat boxes that set up the lines of communication to establish intimate connections. This includes sending out notifications and use of voice interactions that engage customers in high-impact ways, developing more creativity for marketers. AI is promoting personalized outreach to customers in “just-in-time” deliveries, focused on convenient arrival.
Personalization has two advantages: first, its rich data provide an accurate and complete picture of the various segments of customers by understanding what best fits each type of consumer. Secondly, the quality of the data is finely tuned to the habits, likes and dislikes, and history of the clients’ activities through AI’s data management for optimum leverage of product content. AI and ML’s multiple marketing tools keep the consumer in ongoing conversation with “best-in-the-class” customer experience.
The best news about the market today is that customers are demanding more and more personalized response to their demand for quality service even online. What used to be luxury content and service is now anticipated customer experience.