The art of knowing me
The Accenture Genome
The digitalization of everything has led to customers having an overwhelming number of choices in everything they do. When presented with too many choices, many customers are likely to make poor decisions, be less satisfied and abandon a website or brand. When it comes to options, simplicity wins. Companies succeed when they cater to the individual customer and make it easier for them to consume what they want, how and when they want.
Customers are far more likely to make a purchase when they are:
Recognized, Remembered, and receive Relevant recommendations.
The word “Genome” originated in the 1930s as a blend of the words gene and chromosome. It represents the overall genetic code that describes and defines a species.
This is where personalization comes in.
Understanding the person behind the purchase allows brands to create experiences that anticipate and fulfil the future needs that are unique to each individual.
Relevance is about the unique needs, wants, beliefs and preferences that motivate them—the WHY. Companies must transition from a WHAT to a WHY mindset. True personalization is not knowing WHAT choices customers make, it's understanding WHY they make them.
To understand the motivation behind a choice, companies must understand the customer's needs, wants, beliefs and preferences.
of consumers are more likely to buy from a retailer if they are recognized, remembered and receive relevant recommendations.
The Accenture Genome leverages customer interactions to create Living Profiles based on the most unique aspects of an individual. These Living Profiles can help drive an orchestrated experience across all personalization platforms, such as recommendation engines, DMPs, rules engines, campaign management platforms and experience optimization tools.
For customers, the Accenture Genome delivers highly individualized experiences made possible through intelligent service design. Living Profiles enable brands to engage much like a personal assistant, concierge or shopper, resulting in a truly personal customer experience—and relationship.
In addition, the Living Profiles form a unique asset for the enterprise that is richer, more dynamic and at a much greater scale than traditional market research. This collection of voices is invaluable intellectual property (IP) that can drive new forms of innovation across marketing, merchandising and service design.