According to the renowned consulting firm McKinsey, personalization is a proven way to drive growth in marketing. "Personalization at scale," says McKinsey, "can drive between 5 and 15 percent revenue growth for companies in the retail, travel, entertainment, telecom, and financial services sectors."
But for personalization to be most effective, McKinsey believes it must be an integral part of the marketing operating model. An operating model with personalization at its core needs four elements, all working in concert:
- Data foundation
How each of these elements interact is crucial, says McKinsey. In an informative article, McKinsey lays out the groundwork for how to develop a personalization operating model. Read it here: https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/no-customer-left-behind
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