AI Personalization Improves ROI?
David Edelman
Harvard Business School
David is Executive Advisor & Fellow at Harvard Business School
Personalized, Customer Experience in the age of AI- Part 1The history of personalization
- Part 2 AI Personalization Improves ROI?
- Part 3AI personalization Secret Sauce
Show Notes
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00:30Discussing the impact of AI personalization on ROI.Exploring how AI personalization can enhance Return on Investment for businesses.
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05:15Ingredients for successful personalization strategies.Identifying key components like empowerment, knowledge, reach, showcasing, and delight in personalization efforts.
Quotes
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"I have seen companies like Shopify, for example, the example I just said, get a 400% improvement in the ROI on their conversion rates by using AI to manage the way they're going to market." - David Edelman
Episode Chapters
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01:36Lightning RoundAI Personalization ROIPersonalization using AI can significantly improve ROI, but it must be used wisely to avoid overwhelming customers and potentially leading to negative experiences.
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02:56Trend or TrashAI for PersonalizationUsing AI for personalization is a current trend, especially when starting from the customer value perspective rather than just the data. Successful brands, like Shopify, see significant ROI improvements from this approach.
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03:49Game PlanCustomer-Centric PersonalizationBrands should think about the customer’s experience and value while implementing AI-driven personalization strategies, simplifying processes, and enabling seamless customer interactions. Examples include Starbucks' personalized app experience.
- Part 1The history of personalization
- Part 2 AI Personalization Improves ROI?
- Part 3AI personalization Secret Sauce
David Edelman
Harvard Business School
David is Executive Advisor & Fellow at Harvard Business School
Personalized, Customer Experience in the age of AIUp Next:
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Part 1The history of personalization
David Edelman, senior lecturer at Harvard Business School, takes us through the history of personalization in marketing, starting from the early days of direct mail to today's AI-driven strategies. He explains how channels have evolved and discusses the importance of moving from merely targeting customers to enhancing their overall experience. Learn how companies can gather and utilize data more effectively to create lasting, personalized customer interactions.
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Part 2AI Personalization Improves ROI?
David Edelman, senior lecturer at Harvard Business School and author of "The Personalized Customer Experience in the Age of AI," delves into the history and future of personalization. Discover how proper use of artificial intelligence can drive significant ROI improvements, illustrated by examples like Shopify's impressive 400% boost in conversion rates. Gain insights into the critical importance of starting with customer value to create impactful, personalized experiences. Learn why brands like Starbucks have succeeded by simplifying the user experience through smart AI applications.
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Part 3AI personalization Secret Sauce
David Edelman, Senior Lecturer at Harvard Business School and Executive Advisor, delves into the history of personalization and shares five key ingredients for creating personalized customer experiences. Learn how to empower customers, manage sensitive information, and utilize AI for optimal engagement timing. Discover strategies for crafting personalized content and continuously improving through testing and feedback.
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