People care about their own interests. One of the coming changes for the Internet is “beautiful, relevant, personalized, curated content for consumers,” Mary Meeker, a partner at venture-capital firm Kleiner Perkins Caufield & Byers, said last year. But personalization is tricky. Jeremy Liew, a partner at Lightspeed Venture Partners, points out that “getting the mix right is a mix of high value content and serendipity."
For many consumers, a personalized experience can make a world of difference and, interestingly, they are willing to give up increments of their privacy for it. A 2012 study by consulting firm Accenture found that 64 percent of consumers in both the United States and the United Kingdom preferred to have trusted services use some of their personal data in order to present personalized and targeted content rather than have nonpersonalized experiences and businesses not track their data.
When personalization is done right, consumers have an enjoyable, more relevant experience that cuts through the clutter. This personalized experience, in turn, will result in higher conversion rates, time spent on the website, and revenue for companies.
