Personalization is a $2 trillion opportunity. Personalized: Customer Strategy in the Age of AI offers a playbook for capturing your share of this personalization prize. Learn about the book, explore the interactive slideshow, and use our Personalization Index™ to see how your company stacks up.
Mark Abraham and David Edelman
In a world where consumers are expecting more products, services, and support to be accessible instantly, seamlessly, in just the way they want it—personalization has become a do-or-die business goal.
At its core, personalization is about speed—speed in getting to know the customer throughout their journey, and speed in constantly improving the customer experience based on that knowledge.
A personalized customer strategy, and the ongoing cycle of activities that power it, creates a competitive moat that is very hard to replicate. Unfortunately, most companies aren’t doing personalization very well. They are relying on outdated personalized customer strategies, insufficiently leveraging artificial intelligence, and struggling to scale up.
BCG’s personalization strategy book, Personalized: Customer Strategy in the Age of AI, demystifies personalization at scale, distilling the formula for success into what we call the five promises of personalization.
The five promises of personalization are promises the company makes to the customer—and needs to live up to—in order to deepen digital customer relationships. In the age of AI, every one of these promises must be delivered by bringing together a human touch and the right technology. The five promises of personalization include: empower me, know me, reach me, show me, and delight me.
A small percentage of companies, mostly digital natives, are already living up to these promises and delivering one-to-one, advanced personalization for their customers. Most companies, however, still have far to go to achieve the full potential of cross-channel personalization.
The BCG Personalization Index™ assesses the current state of your company’s personalization maturity and benchmarks it against your industry. The index provides a numeric score from 0 to 100 that reflects your company’s ability to deliver on each of the five promises of personalization outlined in Personalized: Customer Strategy in the Age of AI and highlights what it takes to win in your industry.
Our analysis shows that a company’s personalization maturity correlates with its financial performance as well as level of customer satisfaction. Armed with insights from this assessment, companies can create a personalized customer strategy, chart a roadmap to competitive advantage, and quickly become a personalization leader in personalized experiences.
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