Article provided by Oracle Cloud
90% of the world’s existing data was created in the past two years and most of that data is linked to individuals. Think about your own interaction with businesses as a customer, not a marketer. As a savvy consumer you’ll not tolerate any barriers to purchase – meet one and you’ll find your product elsewhere. Barriers are diverse, but they share a common failure point: an inability to connect with you as an individual. It’s a clear signal that a company isn’t innovating, because the reality is that technologies exists to deliver hyper-personal insight that makes the right connection with you.
Innovation and growth
If you’re not innovating you can bet your bonus that the competition is. The most successful businesses have an innovation agenda, because they understand that innovation and growth are a virtuous circle: the more you know your customers, the better you tailor the experience; the better the experience, the bigger the return.
These companies see that constantly fragmenting audiences demand real-time customer visibility. They take a systematic approach that continually identifies and adopts tech that brings hyper-personal insight.
It’s an ethos that a growing number of growth-focused businesses adhere to:
- Italian casual dining company, Foodation, sees innovation as the platform for expansion. Using Oracle Simphony Cloud to centralise systems for its six brands, it enjoys up-to-the-minute insight across digital channels, ordering and apps. Complete visibility of customer interactions delivers the streamlined services they want, whilst boosting profitability. Foodation is not only faster than the competition, it’s smarter.
- Global fashion retailer, Perry Ellis International (PEI), recognises that hyper-personalisation is the new reality – growth can only come from comprehensive customer understanding and exceptional customer experiences. PEI uses Oracle Retail Customer Engagement Cloud to bring together its 21 different brands, both in the US and UK, and leverage deep insight from more than a million loyalty customers.
- In Spain, the Mutua Madrid Open is using hyper-personalisation to see tennis fans and not simply a crowd. Chatbots working on a cloud platform interact with visitors – not only providing spectators with real time information but also listening to them. The result is a global tournament that is unique to every individual.
Set your innovation agenda
Hyper-personalisation is not only here to stay, it’s only ever going to get more ‘hyper’.
Organisations like Foodation, PEI and the Mutua Madrid Open realise that, whilst audiences fragment, cloud services allow them to build a unified customer picture. They have set their innovation agenda ─ now is the time to set yours too.