How Hyper-Personalization Improves Customer Loyalty in the Beverage Industry

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How Hyper-Personalization Improves Customer
Loyalty in the Beverage Industry
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• Sustainable loyalty requires businesses to
  continuously nurture their customer
  relationships. The way to a persons emotions is
  often through personalization. McKinsey found
  executive teams that make extensive use of
  hyper-personalization and predictive analytics to
  influence their business decisions will see a
  126 profit improvement over those who dont.

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• A business marketing a 100 bottle of wine wont
  have much success if their messaging targets
  backyard barbecues, however, an everyday beer can
  see great conversions by enhancing everyday
  activities. Although innovations such as
  artificial intelligence (AI) may be trending, it
  should not overshadow the value of data found in
  the Customer Experience (CX).

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• In order to reach maximum customer loyalty,
  better products arent enough. Customers want
  better experiences. A beer is not just a cold
  drink to go with dinner but it could represent
  the end of a long days work. Other times, its a
  social activity, a memory of a sons first drink
  with his father, or a casual Saturday afternoon.
• Customers will buy a high-ticket spirit only to
  lock it away in a cabinet for an extended period
  of time. These customers purchase in anticipation
  of a special occasion. They want to be ready.
  Some customers want to be transported to a
  favorite region or a new place theyve never
  experienced. Others see a special bottle as a
  personal reward system or measure of social
  status.

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• Hyper-personalization elevates experiences.
  Elevated experiences increase loyalty.
• The main goal of loyalty programs is to increase
  customer retention. It turns casual buyers into
  loyal customers who are not only consumers of
  your products, but advocates, encouraging their
  own network to become customers, too.
• For business, higher retention rates mean a
  steady flow of bottom-line revenue, which cuts
  costs when acquiring new customers. This is
  precisely why your loyalty programs must be
  highly effective and serve a real purpose.

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• By fusing data with retention strategies to
  provide your customers with the best experience,
  you can dynamically increase your revenue and
  impact your teams approach to reach potential
  buyers. Now, influencing customers to become
  loyal isnt a magic trick. It just requires data
  you more than likely already have thats only not
  being used to its full potential. The beauty of
  loyalty is that regardless of your industry, most
  organizations have mounds of useful data. Take
  this data and assign team members to analyze your
  most valuable customer data points and begin to
  uncover the correlation between purchasing
  behavior and customer characteristics to find
  commonalities to infuse with your sales and
  marketing strategies.

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• Dont Get Distracted with Shiny Objects
  Innovate with Real Data.
• Recent studies show almost 40 of CMOs believe
  AI will be the biggest game-changer moving
  forward, but the rush to utilize AI technology
  shouldnt discount data readily available.
• Know more visit our blog here
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