Toward customer hyper-personalization experience - A data-driven approach

Today's omnichannel business models incorporate physical and digital touchpoints interacting with customers. A hyper-personalization strategy relies on the organization's capability to gather and transform customer data into personalized experiences; therefore, when a hyper-personalization organizational plan is put in place, it serves two main functions: to deliver personalized experiences and increase the number of customers receiving such experiences. For this to happen, four elements are required for a hyper-personalization strategy: data foundation, decisions, design, and distribution. While customer master data management relies on the correct identification of a customer, a real customer insight can only be achieved when three types of customer data are gathered: Identity, Contactability, and Traceability (I, C, T)- fulfilling the first element of a hyper-strategy. This article aims to identify the benefits in the total number of customers that can receive a hyper-personalization strategy when real-time touchpoints are linked to a customer Master Data Management that integrates the three types of customer data.