Your customers should be ONE IN A MILLION not one of a million.
Personalization, often called one-to-one marketing, is a customer relationship management strategy emphasizing personalized interaction with customers. The personalization of interactions is thought to foster great customer loyalty and better return on marketing investment. This approach concentrates on providing services or products to one customer at a time by identifying and then meeting their individual needs. It’s far more than the typical relationship management initiatives we see today with loyalty cards and privilege discount. Personalization seeks to engage customers in dialogue, building trust so that they tell you their needs and aspirations, their problems and ideas.

New technologies embrace personalization marketing such as: e-mail, Internet, interactive TV, kiosks, fax, voice mail, personal data assist, mobile phones, smart phones, etc., all allow personal messages and encourage customer feedback – and at a time and place that suits the customers.

While businesses supporting these technologies require a range of appropriate support technologies it’s also important to understand that personalization takes it one step further. First, there is a need to manage your customers, not just your products. Second, you must take products to customers, not expect customers to come to products. Third, protecting privacy is important – threatening privacy destroys trust. Last, personalization requires that all parts of the organization that deals with or support customer services, to be truly customer focused, treating each as an individual.

There are several benefits of personalization marketing. One is that it provides tailored products to meet certain needs. This makes comparative shopping difficult and there is a shift from price to benefits. With an intimate knowledge of individual customers, products and services can be more accurately targeted. Not only can personalization differentiate you from the competition, but satisfied customers provide excellent referral sources and references.

More than ever before customers are more educated and better informed. The “one size fits all” model is out-of-date. Individuals now want to be seen and treated as individuals and many are prepared to pay for this. In many businesses 20% of customers provide 80% of the profits. Gaining new customers is expensive. Developing close lifetime relationships with existing customers can produce superior profits.

In the end, while all businesses have a concern about the bottom line, success comes from taking care of the customer. If successful, the bridge that one-to-one marketing creates between businesses to customer can create a powerful bond that will continue to provide benefits to both well into the future.