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How Businesses are Using Digital Identities to Enhance Customer Personalization

Advances in digital customer profiling have enabled businesses to learn more about their customers than ever before. As technology becomes ever more integrated into our daily lives, our data grows increasingly accessible to businesses. This collection of data, often described as a digital identity, is now used by a variety of businesses to create personalized marketing strategies and enhance relationships with consumers.

Companies on the cutting-edge of digital identities are achieving an individualized view of each consumer and are delivering highly-personalized products and services that offer better, lasting experiences for the customer.

New technologies are bringing customer personalization to the forefront of the consumer-company relationship. Enterprises are using a feedback loop that takes into account the prolific insights consumers are leaving behind in this digital age. These technology-driven consumer insights are helping businesses develop an unprecedented foundation of knowledge about their consumer base that enables them to connect more deeply with their customers.

The goal of using digital identities is to understand the technology that people choose to use and how they use it in order to better understand and deliver the experiences that consumers truly want. Research conducted by Accenture found that 83 percent of executives agree that understanding consumers’ digital identities will be critical for the future of their organization.

Savvy business leaders are already personalizing their product and service offerings. Technological advancement is making it possible to go even further to understand and develop new, individualized, experiential business models.

However, the possibilities that are opened up by exploring digital identities will also usher in new ambiguities and challenges. For example, there are times when consumers welcome more technology, and times when privacy is paramount. The same goes for the level of individualization that’s delivered. There’s a line between helpful and creepy, and this line can be different for each individual person.

Companies need to understand the delicate balance between consumer personalization and privacy in order to respect the individual needs of each customer.

As companies continue their journey into digital transformation, the opportunity to connect with consumers who now have developed their digital identities. Integrating experiences into the lives of consumers requires a deep, continual level of understanding. Businesses that understand the nuanced nature of trust that must be established and maintained through every consumer interaction will achieve a new level of insight that will position them as leaders in the future digital world.

At Lanier Upshaw, we invite you to explore the upside of risk. We use advocacy, expertise and service to turn your business risks into rewards. Contact us here to learn more about how we can help your business prepare for the future with innovative insurance solutions.