What is Personalization?
Personalization - the process of tailoring something to meet an individual’s needs or preferences. In today's world, we see personalization in various forms like personalized advertisements, product recommendations on e-commerce platforms and personalized user experience on websites.
This modern-day phenomenon can be achieved by using data analytics and algorithms that help companies understand their customers better. By doing so, they offer tailored goods and services based on individual preferences which ultimately results in an enhanced customer experience.
The concept of personalization isn't new as retailers used to tailor their offerings according to a customer’s need before big-box stores came into existence. But with the advancement of technology the term has acquired more meaning than ever before.
The Benefits of Personalization in Marketing
In marketing, personalization plays a crucial role as it enables businesses to target specific audiences for increased ROI (Return On Investment). It is also important because:
- Increase conversion rates by making customers feel valued through targeted messaging
- Foster long-term customer loyalty arising from personalised experiences
- Create sustainable competitive advantage through personalisation strategies that are hard for competitors to replicate
Apart from these benefits, finalizing your purchase within seconds’ worth of time after getting exactly what you want , is deemed as one of many advantages perceived by consumers.
The Role of Personalization in eCommerce Sector
Ecommerce has revolutionized the way businesses operate. In this digital age, 
personalization helps online businesses stand out by providing customized user experiences. In e-commerce sector, personalisation is used to:
- Create a personalised shopping experience which results in higher sales and revenue
- Simplify navigation with curated product recommendations based on customer preferences
- Increase brand loyalty through tailored marketing messages
This creates loyal customers that are more likely to return and refer the business to others, ultimately increasing sales for the company.