Businesses worldwide are adopting Machine learning-enabled solutions to enhance customer experience, personalization, ROI, and to gain a competitive edge in business operations. By analyzing customer patterns, advanced ML algorithms help organizations to gain meaningful insights for predicting user behavior.
Most of the businesses today are using ML techniques to improve personalization. By rendering customers with what they like helps to keep them connected to your services. Understanding customers’ preferences and their requirements enable your brand to win customer loyalty. This is why providing an improved personalization has become the ultimate goal for many businesses now. Did you know that approximately 80 percent of TV shows that are watched on Netflix are suggested through an ML-driven recommendation system? This has helped Netflix in saving about $1 billion. Netflix uses machine learning algorithms to find shows that have initially been chosen by users at any point in time. With the growing popularity of smartphones, a shift from eCommerce stores to mCommerce apps has become a trend now. By rendering a personalized user experience, Machine Learning has played an important role in this shift. Here, in this article, I’ve discussed how Machine Learning enhances personalization.
5 Ways Machine Learning Can Enhance Personalization
Improving customer experiences and personalization is the major reason why businesses are adopting Machine Learning these days. Tech giant Adobe found that marketing executives are prioritizing AI and Machine Learning-based applications & platforms to improve customer experience.
One of the leading tech companies in the world, Dell, empowers users, and business communities across the globe with superior quality software and hardware. The marketing team of Dell required a data-driven solution that fastens its response rates.
Dell partnered with Persado which is one of the world’s leading technology in AI and ML. After partnering with Persado, Dell generated engaging marketing creatives that helped to utilize the power of words in their email channel and data-driven analytics for each of their major audiences.
As a result of this partnership, Dell saw a 50% average increase in CTR and a 46% average increase in responses from customers. Moreover, it noticed a 22% average increase in the page visits and a 77% average increase in add-to-carts.
So, as you can see, the incredible benefits of Machine Learning just can’t be ignored. Here, in this blog, I have discussed some important tips to enhance personalization using Machine Learning.
Improves Customer ExperienceBy using advanced ML techniques, businesses predict user behavior and create marketing strategies that best suit their customers. Based on this analysis, companies send personalized emails, messages, and shopping recommendations to their prospects. Sending product recommendations that are tailored to customer’s likes and dislikes helps in improving customer experience. Offering your customers with exactly what they want and when they want keeps them happy and satisfied. This is what keeps them hooked to your services and compels them in coming back to your services. Like Airbnb, other companies have begun harnessing Machine Learning’s powers. As a result, they have achieved higher sales, increased customer engagement, and greater customer loyalty. Now, more organizations plan to put Machine Learning techniques to improve their customer experience.The use of chatbots helps in responding to customer queries quicker and faster. With services such as Apple’s Siri or Amazon’s Alexa, businesses are able to deliver a better customer experience. Clearly, improved customer experience is one of the ways Machine Learning can enhance the personalization. Use Of Real-Time data!Making use of real-time data is one of the tips to enhance personalization using Machine Learning. Businesses have to deal with humongous amounts of data every now and then. Providing appropriate context to the data is very essential. This is because data holds no value without any context. Today’s cutting-edge technologies such as Machine Learning allow businesses not only to look at their historical data but also to predict behavior or outcomes in the future. Collecting real-time data allows machine-learning algorithms to extract and implement relevant insights in real-time.
Let’s say for instance when it comes to retargeting campaigns, shoppers can see ad content and designs that can change in real-time using ML techniques based on their shopping patterns. All thanks to Machine Learning! Undoubtedly, using real-time data is one of the ways Machine Learning can enhance personalization. Deeper Shopper InsightsLet’s continue our discussion on how Machine Learning can enhance personalization. By analyzing data related to shopping patterns, the use of advanced ML techniques helps businesses gain relevant insights into shoppers’ behavior. ML-driven algorithms help businesses in predicting customer behavior. A campaign run by machine learning helps to analyze the shopping behavior of the customers. ML analyzes the current trends and helps send personalized messages to the customers thus enabling businesses to render personalized experiences to shoppers and users. A detailed analysis of data related to the shopping behaviour of your customers can be helpful in designing effective marketing strategies for your product.
Better RecommendationWondering how Machine Learning can enhance personalization. Machine Learning helps businesses in rendering personalized recommendations tailored to customers’ choices. ML algorithms are used to analyze data to make accurate predictions for rendering recommendations. Let’s see how Netflix uses Machine Learning for recommendations. Netflix uses ML-powered algorithms to find shows based on their likes and dislikes. ML analyzes data related to their browsing history and then makes accurate predictions and renders suitable recommendations based on this analysis. Netflix’s recommendation system driven by ML is the main reason for the success of Netflix. The ML algorithms study the pattern of the customers and then send recommendations suiting their tastes and preferences. Increases Business Profits and Optimizes BudgetsThis is one of the tips to enhance personalization using Machine Learning. Businesses are leveraging ML benefits to make marketing more precise and cost-effective. Machine Learning helps to predict user behaviour. Based on these predictions, marketers can use real-time behavioral data to target audiences and improve the chances of converting users into paying shoppers. Machine learning helps to cut down on overall marketing costs as machine learning allows marketers to communicate with shoppers through automated emails and social posts. The BottomlineBy now, I am sure you have got a clear idea of how Machine Learning helps to improve personalization. With its incredible potential to analyze customer data to predict user behaviour, business organizations across the globe are using ML techniques to enhance personalization. 47% of organizations participated in a recent survey and they say that most of their upcoming projects are using Machine Learning as a major technology. As this technology continues to evolve, more advancements in Machine Learning and the advent of more advanced ML algorithms can be expected in the near future.