Determine the degree of maturity of your personalization measures and reveal untapped potential.
The digital transformation is in full swing. Omni-channel, me-commerce and customer experience are just three of the keywords regularly heard in this context. They express the increased market power of the customer, which has been on the rise since the triumph of online shopping. This has also changed the perspective of the entire retail business. The focus is now away from a product-centered perspective and towards a customer-centered one. Today’s connected customers want access to any product at any time, anywhere and preferably at the lowest possible price. At the same time, customers expect personal advice to fit their current needs in every sales channel. After all, the competition is only a click away. How can retailers adapt? The solution is clear. The best way to meet increased consumer expectations is to personalize all customer interactions in real time.
That is why many retailers wonder if their company is well prepared for omni-channel business. This is where the prudsys personalization index, which we developed in close cooperation with the Chemnitz University of Technology, comes into play. It is a maturity model that inter-subjectively assesses the holistic nature and the quality of corporate personalization measures.
Using the prudsys personalization index, retailers can achieve the following:
Determine the current status of all personalization activities
Reveal hidden potential
Derive new strategies
Increase customer loyalty and earnings
Are you ready for the retail of the future?
Five steps to perfect personalization
This is how to determine the degree of maturity of your personalization measures
The prudsys personalization index helps retailers to analyze their potential. There are three dimensions when it comes to assessing the degree of maturity of a company’s personalization measures: organization, expertise and technology. By dividing the maturity model into three dimensions, retailers quickly realize where they are in a good position and where processes need to be optimized to reach the next level on the personalization ladder. The first dimension highlights the organizational requirements of good personalization such as the presence of a comprehensive personalization strategy. The second dimension covers the professional implementation of concrete measures such as the generation of personalized product recommendations in the online shop. The last dimension is geared toward the technical aspect of personalization such as the architecture of the online shop.
If you want to know where your company stands in terms of personalization, take advantage of the prudsys personalization. A catalog of 44 questions forms the basis of the maturity model. The questions all fall into one of the three aforementioned dimensions. There are up to five possible answers to each question. Based on experience we know that not all aspects are equally important for a personalized shopping experience. Accordingly, we have determined weighting factors based on expert interviews and incorporated them into the calculation formulas. Once you have answered all of the questions, we calculate the final index value of your company and rank it according to the five-stage maturity model of personalization. While the first level reflects a uniform customer experience without any personalization, reaching the fifth level means a perfect overall view of the customer and 1:1 personalization in real time at every touch point.
The three dimensions of personalization
The prudsys personalization index measures the quality of your personalization measures in terms of organization, expertise and technology.