Hyperrelevance: new fad for customer experience

Presented by: Editorial Team

In our last article, we spoke about “personalization” related to customer experience. Beyond this trend, “hyperrelevance” is gaining significant grounds. However, the retailer must know how to efficiently make good use of it in order to optimize an added value to its services.

A recent report from Accenture revealed that Canadian businesses suffered an $88 billion revenue shortfall in 2017 due to a lack of digital trust.

Consumers surveyed by Accenture Strategy’s 13th Annual Global Pulse Study blamed it on a low degree of responsiveness by companies to their preferences. Traders would thus lose the confidence of buyers in 43% of cases. These would therefore go directly to the competition.

Discover your consumer

In addition to the lack of personalization, the poor consumer experience would also directly affect the financial performance of companies.

Among the irritants that turn customers off, Accenture’s survey (conducted of 25,000 buyers worldwide, including 1,330 Canadians) identifies: the long waiting time on the phone with automated responses like “your call is important to us and blah..blah..blah…” is a sign of a very poor service.

Earn personal data

Whether or not they satisfy the consumer, companies inevitably crave for private information.

They want to go with the flow, then feed big data, even if they don’t know how to use it properly. All this, with the aim of anticipating customer needs through machine learning and artificial intelligence.

Canadian buyers do not totally oppose this practice, but demand in return for their data: a better treatment and a guarantee of confidentiality (over 70%). Not withstanding an irreproachable behavior that does not affect trust (41%).

Personalization or hyperrelevance?

Customers are generous with their data if they are satisfied. However, personalization, which tends to categorize them into a static category based on their purchase history and group (demographics, age group, gender, profession, etc.) to retarget them is no longer enough. This is where many retailers fail, the process has its limits and must go further.

Hyperrelevance comes into play, this practice starts from personalization, but questions the principles by evolving at the same pace as customer expectations. It follows the flow of variations in the changing circumstances of consumers’ lives.

TWISH™ technology fits

To deliver the hyper-relevant experience, marketers will use:

  • Digital assistance
  • Predictive analytics
  • Artificial intelligence

TWISH technology has properly implemented in its operating strategy this process through three key components dosed adequately:

  • We look beyond the traditional customer journey and identify key areas where a highly individualized experience will pleasantly surprise.
  • We rephrased data collection process using digital and predictive tool.
  • We are transparent and rigorous in the treatment of data (to obtain more) in the consumer’s interest and not the way round.

The Accenture study draws attention to the fact that the value of personalization plateaus over time. However, whatever is invested in hyper-relevant experiences pays off.

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