A Study on Influences of Personalization Strategies for Engaging and Retaining Customers of a Hyper-Connected in Malaysia

Abstract

The aim/objectives of the study examine the effects of personalization strategies in attracting and retaining the customers in Malaysia, a country that has unique market characteristics which are diverse and manifold in connectivity. There is growing concentration of advanced artificial technologies, big data, and machine learning in driving companies towards a new marketing approach that is more engaged and personalized towards the target audiences. The methodology of study is a descriptive survey design was used in the collection of data, using structured questionnaires to obtain information from 309 respondents. The analysis of the data performed using Pearson's correlation and multiple regression analysis confirms these results and reveals that personalization strategies are significant in enhancing customer engagement as well as retention. The results indicate that out of the three factors, customer preferences exert the highest influence on engagement, while the factors of technological capabilities and data quality are also important in establishing the success of personalization. The conclusion & implications of the study states that the companies’ engagements in Malaysia would require acquisition of advanced technologies, improvement of data management systems and being able to personalize their offers to every single customer in order to maximize their personalization strategies. The contributions of study is to further catalogues various barriers that would hinder the full potential of personalized marketing, such as data privacy issues and lack of necessary technological aspects.