Ai market research

Anticipate and adapt rapidly to market changes

Gregory Verlinden, Associate Vice-President for Artificial Intelligence and Analytics in Benelux, Cognizant

AI is a powerful solution to keep pace with perpetual changes in customer preferences and market circumstances.

  • Create superior customer experiences and drive brand loyalty with hyper-personalization
  • Integrate sales, marketing and production processes for data-driven performance
  • Leverage AI to identify and target your highest value customers

At what time of day does each of your customers prefer to be approached? What kind of messages are most likely to inspire purchases? These questions are what hyper-personalization is all about: understanding individual behaviors and preferences to create profitable customer journeys.

Segmentation and traditional marketing tools don’t meet today’s retention and loyalty challenges. As online experiences improve, customer expectations increase. Superior customer experiences depend on treating every potential buyer as a unique individual. The ‘stickiness factor’ isn’t generated by simply broadcasting information, but through end-to-end relevancy. From brand recognition to purchases, personalized journeys are essential to the buying experience.

 

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It’s about unified customer journeys that drive brand loyalty and unleash the highest lifetime value. Think in terms of ongoing dialogue. You must deliver the right message to the right customer at the right time—and via the right channel.

Gregory Verlinden

In other words: businesses need a deep knowledge of customer profiles.

When devising an experience strategy, the best starting point is not “What do we have?” but “What should we deliver?” Success with hyper-personalization hinges on offering customers something of value in exchange for data about themselves and their activities. Determining which experiences will matter to individuals lays the groundwork for leveraging customer relationships. But businesses still need the right resources to optimize their data and their decision-making.

Traditional marketing tactics cannot produce the data-driven intelligence necessary for speed and scale, and expensive marketing tools leave businesses constrained by the parameters of service providers. A fresh approach to customer conversations requires integrating sales, marketing and production processes for data-driven performance. Businesses must combine their technology, customer data and artificial intelligence to deliver contextually relevant and truly personalized experiences.

To reap the benefits of hyper-personalization, companies will want to invest in a platform that enables them to access and analyze the right data at the right time, while maintaining data privacy and ethical AI governance. With the advanced technology capabilities that are now available, it’s a good time for businesses to rethink how to upgrade their approaches to customer experience. More mature forecasting means companies can take their customer lifetime value initiatives to the next level.

One caveat to keep in mind: gathering as much data as possible will not guarantee success—a lot of data will simply be irrelevant to the context. Businesses naturally don’t want to waste time and money on ineffective marketing. A solution is AI technology to identify and target the highest value customers. Building loyalty and return business is just as vital in B2B contexts as in B2C, although with more complex challenges to tackle.

The first crucial step in creating hyper-personalization journeys in B2B contexts is to identify the optimal customer personas. For example, knowing who to approach begins with pinpointing the different stakeholders. The second most important step is a personalized approach to account-based marketing, which can reduce engagement time and lead to increased sales.

About the author

Gregory Verlinden, Associate Vice-President for Artificial Intelligence and Analytics in Benelux, Cognizant

With more than 25 years of expertise, Gregory Verlinden is passionate about bridging business and technology within the field of cloud and AI. Gregory has a proven track record in start-up and crisis situations, where his analytical and problem-solving capabilities have contributed to strategic solutions.