What's Happening?
A new guide by Moloco highlights the gap between retailers' perception of personalization and customers' experiences. While 92% of retailers believe they offer personalized experiences, only 48% of customers agree. The guide showcases how commerce leaders like Wayfair and McKinsey achieve significant revenue and click-through rates through real-time AI. It introduces Moloco's Commerce Media AI Maturity Model, which includes six key pillars and practical steps for launching personalized ad strategies inspired by Amazon and Meta. The guide emphasizes the importance of protecting privacy while scaling results.
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Why It's Important?
The disparity between retailer perception and customer experience in personalization indicates a need for more effective strategies. AI-powered personalization can significantly enhance customer engagement and drive revenue, as demonstrated by industry leaders. The guide's focus on privacy protection is crucial in an era where data security is a major concern for consumers. By adopting AI-driven personalization, retailers can improve customer satisfaction and loyalty, ultimately leading to increased sales and competitive advantage in the retail sector.
What's Next?
Retailers are encouraged to implement the strategies outlined in Moloco's guide to bridge the personalization gap. By leveraging AI technologies, they can create more tailored and engaging ad experiences for customers. The guide provides a roadmap for retailers to enhance their personalization efforts, potentially leading to improved customer perceptions and business outcomes. As privacy remains a key concern, retailers must ensure their strategies comply with data protection regulations while maximizing personalization benefits.
