ai

Hyper-personalization gives companies an edge

It’s not just for Amazon and Netflix anymore

Image by Freepik

Hyper-personalization means delivering highly relevant and individualized experiences to customers. It results in significantly higher customer engagement and loyalty. It’s an advanced marketing strategy that used to only be accessible to companies such as Amazon and Netflix, but with the advent of more accessible AI tools, it now has the potential to be a game-changer for businesses of all sizes.

How hyper-personalization works:

  • Hyper-personalization leverages data to dive deep into individual preferences. By analyzing purchase history, browsing behavior, and even social media activity, businesses can tailor their offerings to match the unique tastes and needs of each customer. This isn’t about segmenting markets; it’s about understanding the individual at a granular level.
  • One of the standout benefits of hyper-personalization is real-time relevance. When a customer interacts with a brand, hyper-personalized systems adjust the messaging and offers in real-time. For instance, a clothing retailer can use weather data to suggest raincoats on a gloomy day or sun hats during a heatwave. This level of responsiveness makes customers feel like the brand is genuinely attuned to their current situation.
  • Beyond the data and algorithms, hyper-personalization builds emotional connections. When customers feel recognized and valued, their loyalty deepens. Think of the joy of receiving a special offer on your birthday or a personalized thank-you note after a purchase. These touches create memorable moments that enhance brand loyalty.

With accessible AI tools and customer data platforms (CDPs), even small businesses can implement sophisticated personalization strategies. Companies like HubSpot and Segment offer solutions that allow businesses to gather and analyze customer data effectively, enabling hyper-personalization without breaking the bank.

Hyper-personalization requires a shift in how we conduct market research. Rather than looking for demographic or psychographic segments, companies need to consider the parameters on which to personalize. We need to look for what makes customers differ from one another and then use digital tools to cater to those differences.

Want to learn how to hyper-personalize your marketing? Let’s talk to your customers and find out! Email me at info bureauwest.com and we can discuss the best approach.

Sources: “Taking Hyper-Personalization to the Next Level,” CMS Newswire, 4/16/24; “Driving Performance With Content Hyper-Personalization Through AI And LLMs,” Forbes, 2/23/24, “Why Brands Need to Embrace Hyper-Personalization to Stay Relevant,” The Branding Journal, 2/5/24

Posted on by Jay Zaltzman

Using AI for better research

While people are wondering what potential AI holds for the future, many of us are seeing benefits right now, especially when it comes to our work lives.  That’s certainly the case in the market research field.  AI has enabled us to streamline the process of finding research participants, it can help with discussion guides and moderation, and it has significantly improved report-writing capabilities.

But before we get to conducting the research, AI can help make sure we are asking the right questions of the right people. Think of AI as an opportunity to discuss your client’s research question with an expert in that specific field… actually, not one expert, but an aggregation of experts!

For example, a client recently came to us looking to understand the potential appeal of a new product in the jewelry category. They wanted to know if people would be interested in the product, which customer segments would be most interested, how they go about shopping, and how they would most likely find out about the product.

We needed some background about the category in order to decide whom to recruit and what to ask them. So I turned to AI and asked the following:

    • Act as an expert on the U.S. jewelry business. Provide an in-depth analysis of the industry, focusing on the mid-range pricing tier. Your analysis should cover the following aspects:
    • Provide a detailed description of how the jewelry category operates in the U.S., including key characteristics and market structure.
    • Focus specifically on the mid-range pricing tier. Discuss the types of jewelry typically found in this range and the defining features that differentiate this tier from budget and luxury categories.
    • Analyze the different segments of customers within the mid-range tier. Pay special attention to purchasing behavior, particularly the distinctions between customers buying for themselves and those buying as gifts.
    • Identify and explain the current trends impacting the mid-range jewelry market. Include insights on consumer preferences, popular styles, and emerging materials or technologies.
    • Explore the various business models within the mid-range jewelry market. Discuss the roles of brick-and-mortar stores, online retailers, and hybrid approaches.
    • Provide examples of key players in the mid-range jewelry market. Highlight a few prominent brands or retailers, and discuss their market strategies and positioning.

    I received a great, detailed analysis. I then followed up with questions regarding the specific product idea, as well as the typical steps in the customer journey. The input helped us design the research to make sure we were spending our client’s research dollars in the most effective way possible.

    How did I learn to write that kind of prompt? A lot has been said about prompt writing (for example, this information from OpenAI), but I also want to credit my friend and colleague Robin Algaze who spearheads an AI Community of Practice at Ignite 360 that leverages generative AI to enhance team productivity and elevate output. She provided the following template for AI prompts, which is a great starting point:

    • Act as a [specific role with expertise in the subject].
    • I need a [precise description of the deliverable].
    • You will [clearly defined task with a singular goal].
    • In the process, you should [step-by-step details or important considerations].
    • Please avoid [clear exclusions, sensitive topics, or undesired approaches].
    • Present the final result in [appropriate format for the content].
    • Here is an example [relevant and clear example to illustrate the request].

    I encourage everyone to experiment with AI prompts. The more you do it, the more you’ll find ways in which AI can benefit you!

    How can we help you conduct more effective research? Email me at info bureauwest.com and let’s discuss!

    Sources: “Prompt Engineering,” OpenAI; Robin Algaze, Ignite 360

    Posted on by Jay Zaltzman

    How will AI impact your organization?

    Image: https://pxhere.com/en/photo/1449225

    The news about artificial intelligence has been coming fast and furious over the past six months.  The list of things AI can do is reason for excitement as well as some worry.  But either way, it’s coming.  Organizations that learn how to utilize AI will benefit, but those who don’t risk falling behind.

    • Shameless plug: I’m offering a 60-minute webinar, “Intro to AI for Business” and a full-day workshop, “How Your Company Can Benefit from AI.”  Details at the end of this email.

    How can organizations benefit from AI?

    • Encourage employees to familiarize themselves with AI.  Learn the basics of what AI is and how it works.  Use AI chat bots such as Chat GPT and Bard.  Find out what platforms are offering AI-powered services for your industry and get demos.
    • One caveat to the above: have a policy about acceptable ways for employees to use AI, and in particular, what data may and may not be shared on an AI platform.  Be aware of data confidentiality considerations – these differ by platform.  For example, information shared with ChatGPT is used to train it further.  However, OpenAI announced it will soon launch ChatGPT Business which will enable organizations to keep their data confidential.
    • Customer experience: the fact that AI can analyze vast amounts of data with ease can provide opportunities for organizations to serve their customers faster, better or in a more customized fashion.  For example, could your organization use AI to handle customer questions more quickly?   Or anticipate their needs with tailored recommendations? 
    • Innovation: organizations can use AI to analyze the behavior and needs of customers and prospects and come up with new products and services.
    • Marketing: AI can help organizations target their marketing more effectively, as well as help reduce the time needed to create marketing materials.
    • Productivity: AI sharply decreases the time to accomplish knowledge work tasks.  This raises concerns about layoffs, but the benefit could also be used to increase productivity and to enable employees to have the work-life balance so many organizations say they aspire to.

    Of course, the above is just a partial list, and each organization will have their own specific opportunities and challenges when it comes to AI.  I’m here to help with the following options:

    • Intro to AI for Business: 60-minute webinar that explains what AI is and how organizations can benefit from AI, as well potential pitfalls to be aware of.  Includes time for Q&A.
    • How Your Company Can Benefit from AI: A full-day, in-person facilitated workshop to brainstorm ways your organization can best utilize AI, including a review of the relevant AI-powered platforms currently available.

    Email me at info at bureauwest.com and let’s discuss how I can help!

    Sources: Bureau West research; “OpenAI previews business plan for ChatGPT, launches new privacy controls,” TechCrunch, 4/25/23

    Posted on by Jay Zaltzman