1-to-1 Messaging - Are we there yet?
1-to-1 Messaging – Are we there yet?
For many years, we have been chasing the nirvana of 1-to-1 marketing and it’s embodiment in a concept known as the next best action/offer or in our industry, the next best message.
This customer centric marketing paradigm uses multiple data points about an individual to select the optimal products, services, actions or offers, for that particular customer, at that particular time – from a multitude of possible options. With advances in technology such as big data, sophisticated decisioning engines, artificial intelligence, and hyper-personalization – are we finally able to achieve true 1-to-1 messaging?
Our expert’s opinion:
It’s now about allocating resources. Having an appropriate budget commitment is essential, but without the right digital customer communications experts, organizations are battling to keep up with digital transformation, as new capabilities outstrip their ability to on-board them.
Industry experts that can span the ‘technology to marketing divide’ are in short supply. Such a project needs marketers that can work closely with technologists to conceptualize, compartmentalize, allocate and orchestrate a set of offers and messages to customers on a regular basis.
But, when the value of getting it right is evident in industry case studies, which show returns of between 3-20 times the upfront investment, 1-to-1 messaging is becoming a necessity.