I recently discussed how AI will allow one-to-one marketing at scale, but the truth is that AI technology can go even further. AI will trigger the development of “tailor-made” products and services that are only a bit more expensive than mass-produced ones. We’ve all heard of “hyper-personalization” in marketing, with one-to-one messages, but this is really hyper-personalization in product! Entrepreneurs underestimate the existing potential of modern automation to “manufacture” tailor-made products or services, and the impact that this hyper-personalization of offers (even if only partial) could have on their customers.
Hyper-personalization of goods and services
In the service world, many believe the offers they send out to their prospective customers are already personalized, when even in the design stage those offers are composed of stitched together generic paragraphs. As a result, the client finds the offer very technical, does not clearly see the link between the proposal and his own context, and negotiates the prices to reduce the risks… All the companies I know that have embraced automation for years have succeeded in creating new markets in which they have grown and increased profits.
Automation & AI Create Tailor-Made Offers
For example, the Schmidt Groupe (5th largest European manufacturer, SCHMIDT and CUISINELLA brands) stands as a great success story based on personalization. Their marketing slogan has barely changed over the past ten years: “Tailor-made will no longer be a luxury”. The group has become its own market leader and has greatly expanded its staff. I could cite many examples of success achieved through the production of tailor-made or highly personalized solutions. Without AI, automation does not achieve its goal. AI-based automation makes it possible to deliver truly tailor-made offers. Even if your entire business model cannot be changed overnight, shouldn’t you start implementing “tailor-made” offers?
I discuss the possibilities that automation and AI create for marketing, hyper-marketing, and go-to-market strategy in my latest book on artificial intelligence, “The Rise of the Cobot”, available on Amazon: a full chapter is dedicated to the impact of AI on marketing at B2B and B2C companies.