Publish Time:2017-07-12 09:41:22Source:http://travelweekly-china.com/
【Introduction】:It s too easy for "transformative " business concepts to become tired buzzwords. They do a lot of jogging from think pieces to trade shows and boardroom discussions.
It's too easy for "transformative" business concepts to become tired buzzwords. They do a lot of jogging from think pieces to trade shows and boardroom discussions.
So it's a good thing that BCG has backed-off the warm vibes promotion of personalization as a powerful strategy to improve service (though it certainly is that) and focused on the thing most likely to prick up ears in boardrooms around the globe: money, money, money.
In a paper published on the topic, BCG argues the profit potential of personalization.
"Brands that create personalized experiences by integrating advanced digital technologies and proprietary data for customers are seeing revenue increase by 6% to 10%, according to our research.
"Personalization will push a revenue shift of some $800 billion to the 15% of companies that get it right."
The consultancy also clearly defined the hurdles companies face in deploying personalized digital strategies and the resources companies need to overcome those hurdles.
"A lack of dedicated personnel is the most-oft-cited barrier (74%), but the majority of companies also face hurdles that are organizational and cultural in nature.
"These include insufficient cross-functional coordination (61%), inadequate creative processes (57%), lack of talent and knowledge (54%), and cultures that are not conducive to innovation (52%).
"More than 60% feel that they lack a clear roadmap, and half cite the absence of a clear business case and objectives."
That a large majority of companies lack the project management coordination, clear roadmap, and personnel to effectively deploy personalized digital strategies could be attributed to that dreaded buzzword exhaustion. This big idea has been "muted", especially at the top where active sponsorship of change is desperately needed.
"Our survey found that at half of the top performers, the CEO and the board oversee personalization programs; that is the case at only about 20% of all companies.
"Only about 15% of companies can be considered true personalization leaders, and most of them are tech companies and digital natives.
"Another 25% are experimenting with one-to-one campaigns (but only 13% say they deploy truly customer-specific individual messages, and only 7% manage fully integrated tailored communications across all channels).
"The remaining 65% are still using segmented marketing or even mass-market approaches."
While money may be the ultimate motivator, it can also be a hurdle. Personalization can be expensive to deploy.
"Half of the survey respondents have more than 25 employees dedicated to personalization programs and are spending more than $5 million a year on personalization campaigns."
To reap a share of that $800 billion the top 15% of companies will enjoy - to incrementally improve revenue by 6% to 10% - the leap needs to come from the top down.
The C-Suite has to get past the buzzy noise and focus on the core message: personalization isn't a want or an ask. It is a vital competitive strategy.
Vietnam-China tourism, trade fair to be...
Qatar Airways and IndiGo to Work...
Poland Becomes First Country in 5 Years...
China’s travel service platform...
2019 NYC Winter Lantern Festival to...
The 2019 International Mountain Tourism...
Trip.com Group and TripAdvisor announce...
WTCF delegates attended the 2019 World...
China-U.S. forum calls for closer...
Providing a platform for communication:...
Head of Visit Finland Paavo Virkkunen:...
WTCF Helsinki Fragrant Hills Tourism...
WTCF Participates in the Beijing Expo...
“Discover Moscow Dialogue on Tourism...
Florence| Victoria| Torino| Sevilla| Chinese Friendly International| Innova TaxFree Group| World Travel & Tourism Council| World Tourism Organization| Pacific Asia Travel Association| Beijing Tourism Development Commission| UN| WINTAC Business Development GmbH| WEN WEI PO| Via Hansa| TUI AG| The Beijing News| Taikang Life Insurance Co.| Skyscanner| Sina.com| Shanghai Spring International Travel Service| MasterCard| Kuoni| Kempinski Hotels| JTB| Okura Nikko Hotel Management Co., Ltd.| ICBC| Hong Kong Airlines| HanaTour| Four Seasons Hotels and Resorts| DFS| Ctrip.com| Costa Crociere S.p.A.| Club Med| Chinese National Geography| China UnionPay| China Travel Service| China Southern Airlines| China News Service| China International Travel Services| China Daily| CYTS| CCTV| China Association of Private Equity| Chengdu Shuangliu International Airport| Carnival Corporation & Plc| Capital Airports Holding Company| CAISSA| BTG International Travel & Tours| Beijing UTour| Beijing Tourism Group| Beijing Gongmei Group| Beijing Capital International Airport| American Tours International| American Express| America Asia Travel Center Inc.| Air China| Abercrombie & Kent| Zurich| Zhangjiajie| Yangzhou| Xiamen| Xi’an| Wuhan| Wellington| Washington| Wales| Vienna| Veliko Tarnovo| Vancouver| Valletta| Toronto| Tianjin| Thessaloniki| Tel Aviv-Yafo| Taiyuan| Sofia| Athens| Shanghai| Seoul| Sapporo| Sanya| San Francisco| Rome| Riga| Rabat| Qingdao| Prague| Pomorie| Plovdiv| Penang| Paris-Île de France| Ottawa| Nicosia| Nice| Nanjing| Mudanjiang| Moscow| Monterrey| Minsk| Milan| Marigot| Macao| Luoyang| Los Angeles| London| Lisbon| Kunming| Kathmandu| Jiaozuo| Jakarta| Houston| Hong Kong| Helsinki| Harbin| Hangzhou| Hamburg| Gwangju| Guangzhou| Geneve| Fez| Edinburgh| Dublin| Dubai| Dalian| Copenhagen| Colombo| Chongqing| Chengdu| Casablanca| Cairo| Busan| Buenos Aires| Budapest| Brussels| Boston| Berlin| Beijing| Barcelona| Bangkok| Bandung| Astana| Amsterdam| Altay| Almaty
E-Mail Login|Contact Us|Careers|Legal disclaimer
世界旅游城市联合会版权所有 备案号:京ICP备19050424号-1
Our legal counselors: lawyer Song Yunfeng & lawyer He Wen, both from Dacheng Law Offices