The Importance of Personalization

I hope you enjoyed the retrospective on advertising and marketing last week. It’s important to know where we came from so we can understand where we are going and how big is the step is forward.
For those who were wondering, Mark Goode won the contest on the ad campaigns, and here are the answers:
• Plop Plop Fizz Fizz oh what a relief it is – Alka Seltzer
• The Energizer bunny – Duracell Energizer Batteries
• Quality is job one – Ford
• Just Do It – Nike
• Where’s the beef – Wendy’s
• The most interesting man in the world – Originally Dos Equis
• We know a thing or two because we’ve seen a thing or two – Farmers Insurance
• MMM MMM GOOD – Campbell’s Soup
• Melts in your mouth not in your hands – M&M’s (Mars company)
• Don’t leave home without it – American Express
• Because you’re worth it – L’Oréal Paris
• A diamond is forever – DeBeers Diamonds
As you’re reading, watching TV and surfing the internet, try to notice how marketers are influencing you with mnemonic tricks to change your brand perception.
Back to the importance of personalization. Companies that can provide efficiencies and a great experience win – look at Amazon, Uber, Lyft and Venmo. Simple, efficient, and they solve everyday problems. Social platforms have given rise to companies that enhance the human experience by connecting people and their choices… think of Facebook, Yelp, and Netflix – all tools for enhancing your experience.
When you think about Fortune 500 companies, they’ve been successful by increasing market share and refining business models over decades. They are empires with millions of customers and well-established practices for managing growth and profit. They have the most to lose as technology advances and consumer expectations change. One of our insurance clients was lamenting the fact that millennials are buying life insurance at an ever-decreasing rate when at the same time they are spending more money on monthly subscriptions to products and services – more than the previous generations by some order of magnitude. Why it so hard to get a millennial to make a monthly payment for something that is a wise financial choice?
I believe it has a lot to do with how people make purchases and how information is consumed today. Since most purchases now include some measure of research and glancing at customer reviews, this model lends itself to simpler, quicker, purchases that are amplified by word of mouth. So, if you’re a big company with an empire to protect, how do you maintain a relationship with your customer, evolve it over time, educate them and leverage the latest technology? And, if you don’t, some technology-enabled startup that’s in tune with the new purchasing paradigms is going to clean your clock.
We believe the answer is creating efficient and personalized experiences for your customers. ‘One size fits all’ isn’t enough anymore, and it certainly doesn’t overcome the complexities of building relationships and educating your customers so they make good decisions. We are helping our clients replicate human to human interaction digitally.
There is a great documentary called AlphaGo (you can find it on Netflix), about how Google built an AI program to compete with the best GO player in the world. GO is arguably the most complex game that humans have created.
At Tahzoo we are offering a profoundly different way to approach personalization, digital marketing and customer experience. We are leveraging the latest technologies and applying them in innovative ways to change the world, or as I like to remind everyone, we get to make millions of people just a little bit happier every day.
Let’s go be great!
Brad