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How can enterprises reach personalization like the giants?

May 26, 2020

Froomle is one of the selected startups currently participating in Batch 6 of weXelerate. We have therefore asked Froomle to provide us with valuable insights and their expertise in their field:
How can enterprises reach personalization like the giants – without spending the time and money to develop the technology?

 

A shift from access to relevance

In a perfect world, every single person that arrives on your site would have a perfect experience. They’ll instantly find the right content to read and the right product to buy – right away. But this is not a perfect world, and that is certainly not the reality of most content pages. Chances are good that your customers will spend little time searching for the desired information and leave if they don’t find what they are looking for. Ten years ago, when choices were scarce, it used to be sufficient to provide good content or products to earn consumers’ attention. It is not anymore. Today, consumers are overwhelmed by many good choices. As a result, they flock to those companies offering uniquely relevant personalized recommendations, right away. Every moment your customer is looking for their answers on Google rather than reading the articles on your content pages is a moment lost. In the war for attention, every consumer-facing company is your enemy and some of them are among the most powerful organizations on earth.

 

Who’s winning your war for attention?

Meanwhile, market leaders like Netflix and Spotify raise the customer-centric experience bar higher and higher. They improve their service by enabling rich personalization. Recommendations have for a long time been a core component of their product. And while the disrupters are accelerating their efforts in relevance technology, getting ever further ahead, many other companies hesitate, which, in the end, will probably have catastrophic results. During our scientific research, we recognized the need to bring a self-learning recommendation engine from a few top tech players, like Netflix, Apple, and Spotify, to the rest of the world.

 

How to start with personalization?

The solution is to start with a personalized content experience that only deviates slightly from previous one-size-fits-all experiences, prove their value and create buy-in in the organization like this. This way, you can gradually increase the level of personalization and show that increased relevance comes with increased value. You will be able to replace the comfort of absolute control with the comfort of absolute relevance.

  1. Grab the low hanging fruit.
    You probably already have personalized ‘most popular’ and ‘recent’ blog posts. Now you can move to curate automatically-generated recommendations, where manual curation is blended with personalized relevance.
  2. Measure success. 
    There is only one convincing way of measuring success: A/B-testing. Everything you do should be A/B-tested to make sure you can absolutely prove the value.
  3. Start today. 
    Every day, people increase the time they spend searching answers on your competitor resource pages, you are losing an increasing amount of attention to these relevance-first companies on a daily basis. Since a gradual step-by-step approach will take time, you better start today.

 

Bringing the scientific method right into your content page

How do we make good decisions? When it comes to implementing innovation, most of the time we are wrong – that’s even what the experts say. It’s why we need an evidence-based decision system.

 

About Froomle

In our lab-like environment – we are a team of skilled people. Professors, Ph.D.’s, and data scientists working hard to deliver the most advanced technology to our clients. We’ve published numerous research papers about this and we’re still working on improving the engine.

Our aim is to set a higher standard of personalization. We are inspired by real customers who found a little more joy in their browsing with Froomle recommendations.

Drop us a message if you’re interested in having a 1:1 call with our personalization expert who can give you custom strategies tailored only for your use case.
Signup for more on personalization.

Koen Verstrepen and Bart Goethals – Founders of Froomle

www.froomle.ai