What do Borders, Blockbuster, and Polaroid have in common?

Borders failed to keep pace with Amazon’s eCommerce book sales, Netflix’s streaming offering squashed Blockbuster’s in-store movie rental model, and Polaroid bet on print film over digital. In short, each of these household names paid a high price for not innovating.

And now, more than ever, failing to adapt to such changes in consumer behavior can have lethal consequences. As brands continue to tackle the COVID-19 crisis, many are being confronted with a stark choice: significantly alter the way they do business to remain viable or risk total wipeout.

Delivering engaging, tailored experiences was already vital before the pandemic, but now, a personalized approach has become essential for those looking to regain their footing. Brands can’t afford to drag their feet because dismissing (or even putting off) an individualized approach will result in severe consequences, some of which your business may already be experiencing.

If you have any thoughts or questions on the importance of digital transformation, drop your thoughts in the thread below! And if you're interested in similar topics and content, drop your email here to receive more educational content (from yours truly!) directly in your inbox.A willingness to modify operations, manage costs, and iterate upon past successes is the recipe to long-term success. And for businesses looking to craft seamless customer experiences and undergo complete digital transformation, personalization is now a prerequisite. If you’re interested in learning more, check out this article, as well as our VP of Strategy’s perspective on why brands need to start personalizing today.