Companies flock to AI to deliver personalisation

More than nine in ten (92%) businesses worldwide are now using AI-driven personalisation to drive business growth, new research from Twilio suggests.

The company’s fourth annual State of Personalisation Report found that 62% of business leaders rate customer retention as the top benefit of personalisation, while 60% rank personalisation as an effective strategy for acquiring new customers.

Meanwhile, consumers are increasingly valuing personalisation, with 56% indicating that they will become repeat buyers after a personalised experience.

But at the same time, only 41% of consumers are comfortable with companies using AI to personalise their experiences, and only half (51%) trust brands to keep their personal data secure and use it responsibly.

The results indicate that businesses are increasingly pressured to walk the tightrope between delivering the personalised experiences that consumers desire, while still maintaining trust about the data used to deliver that personalisation, according to Twilio Segment VP of Marketing Katrina Wong.

“Today’s consumers are savvier than ever, and their demand for real-time, personalised experiences is growing by the day. More than ever before, we’re hearing and seeing that customer loyalty hinges on effective personalisation,” she said.

“While our report shows that businesses are racing to implement AI-powered personalisation, and reaping benefits like boosting customer lifetime value as a result, it’s crucial they don’t overlook the importance of trust and transparency. Informed by real-time, first-party data that’s utilised thoughtfully and responsibly, AI has the potential to augment and enhance the toolkit of every marketer and CX professional in the industry, and to usher in a category of next-generation, fine-tuned, customer experiences that drive sustainable growth.”

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