Tuesday, December 30, 2014

Shift In Marketing From Globalization To Personalization - Future Market Insights

Marketing is an integral branch of any organisation that aspires to make it big. It is the pulse that breathes life into the efforts of developing a company business plan. Over the years, marketing as a branch has evolved considerably, but it is the company’s implementation of new strategies that decide its rate of success. Simply put, fundamentals of marketing have not changed; the method of delivery has.

Every year, companies upgrade their marketing policies. Analysts predict a growing number of companies to adopt a consumer-centric approach in order to win customers’ hearts, leaving behind indelible impressions. This shift towards a more consumer-oriented, personalized marketing stems from an increasingly tough market competition, faster communication channels the need for resource accountability and creating a legacy.
Shift in Marketing from Globalization to Personalization

Why Personalization is the Key to Success
Her, a science fiction romantic comedy-drama film by Spike Jonze transports its viewers to a time in future where the lost art of writing letters, mostly romantic in nature, is being revisited and is a growing business. At a time when everything around seems robotic and mundane, in monochromes of grey, the protagonist Theodore Twombly, works to earn his bread and butter writing handwritten love letters as per client demands, reminiscing moments between lovers in a way that touches a chord with its readers. 

When one opts to adopt a personalized approach towards offering products and services, their business makes a winning case for itself. Personalizing customer experience be it online or offline is the key to creating a trustworthy brand that people can return to without hesitation. Needless to say, in the film, the hero goes on to become a successful writer!

Making Dreams Come True
Analysts at FMI believe that a business plan comes with possibilities without barriers. Businessmen often come across clients who carry around a bag full of expectations for personalized products and services. Sometimes a shift in perspective in viewing customer expectations through a lens of possibility can lead to a revolutionary personalized marketing technique.

Imagine a house painting company delivering a specific hue that does not feature in their catalogue. This customization offers a brilliant opportunity for the business house to not just paint dreams, but also deliver a unique service like none other. Maybe marketeers need to take Walt Disney’s saying, “If you can dream it, you can do it”, seriously!

Risking Reinvention
The next trick in the bag towards winning this shift in marketing strategy is to predict the expectations of consumers. For instance, while breaking traffic rules to text, it is such a relief to know that your smartphone knows precisely what to text (call it artificial intelligence or predictive text). It saves mental hassle and makes you fall in love with the application.

Nowadays, internet software allows companies to identify the physical locations customers are signing in from, keep records of customers’ transactions with them, and use tracking cookies to learn about consumers’ other shopping interests. With this data, a website can personalize a visitor’s experience by showing them a customized page, featuring their language preference and products and offers they are more likely to be interested in. Brands like Nike and Adidas are leading the way in terms of product personalization.

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