March 14, 2019

Personalization Works Best When Brands Build Long-Term Relationships

Personalization Works Best When Brands Build Long-Term Relationships: Monetate Report

Monetate

We wrote yesterday about marketers doing too much personalization, so it seems only fair to cover this Monetate report that personalization correlates with strong financial performance. But there’s less contradiction than it seems: companies with the best results are targeting lifetime value and loyalty while those focused immediate revenue or conversion lagged substantially. In other words, personalization works when it meets real customer needs.

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Customer Service and Sales Are Biggest AI Markets: IDC Study

Business Wire

Like personalization, artificial intelligence works best when it gives customers what they want. They don’t always want chatbots but that hasn’t stopped companies from eagerly deploying them to save money. In fact, automated customer service will be the largest AI market in 2019, at $4.5 billion worldwide, according to this IDC report. Sales process recommendation and automation is tied with automated threat intelligence for second place at $2.7 billion. IDC places the total market at $35.8 billion.

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Majority Believe That Government Should Regulate AI: Edelman Report

Edelman

Chatbots aside, most people have mixed feelings about AI, suspecting that it will help the rich but harm the poor and lead to greater social isolation, according to this Edelman study. Large majorities among both the general population and tech executives agree that the tech industry in general has been under-regulated and that AI development in particular needs to be monitored by a public agency. Much food for thought.

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