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In a world where customers are surrounded by all kinds of content, brands need to modernize their marketing approach to be noticed. And when it comes to this, the power of data should not be underestimated – businesses are increasingly focused on data-driven decision-making, and personalization has become a key differentiator for many companies, as a way to create targeted and effective marketing messages. Challenges of personalization When done well, personalization can help brands to better connect with their customers and drive more sales. However, personalization is not without its difficulties. One of the biggest challenges companies face when it comes to personalization is a lack of data. Without it, it’s impossible to know who your customers are, what they want, and how to reach them. Even if you do have all the insights you need, they're not always accurate or up-to-date. This can make it difficult to create targeted, relatable messages that resonate with your customers. Despite these challenges, personalization is still a powerful tool that can help brands to better connect with their customers. What benefits can personalization bring to your marketing strategy?  

1. Increased customer loyalty and satisfaction: When clients feel that a brand understands them and is providing relevant and personalized experiences, they are more likely to build a long-term connection with it. By understanding your customer data, you can learn what your buyers want and need, and then give it to them. This information can also help you improve products or services, and develop new ones.
2. Greater engagement: By providing every client with a service that is tailored for them, you can potentially create a connection with your audience that will lead to commitment and repeat business. Whether it’s a personalized email, a targeted ad, or a recommended product, these experiences are more likely to result in a conversion of potential client into a customer, compared to a generic message.

3. Greater customer lifetime value: When customers feel valued, they are more likely to be loyal and to make repeat purchases, leading to increased LTV. Data can help you understand which customers are most valuable to your business and how to keep them coming back. For example, brands on Viber use available analytics to segment their audiences based on different variables and increase LTV by targeting their messages.
4. Improved customer retention: Buyers who have a positive experience with a company want to stay with it. You can use data to segment clients, understand which ones are most likely to churn, and focus your retention efforts on them. Additionally, data can help you track engagement and identify areas where improvements can be made.

4. Increased brand awareness: When customers have a positive experience with a company, they are more likely to tell others about it. This, in turn, leads to increased brand awareness. The more customers you have and the more you interact with them, the better you will be able to understand their needs and wants, resulting in an increase in sales.

The Nepal Stock Exchange (NEPSE) plunged by 57. 74 points to close at 2,022.64 points on Thursday. Similarly, the sensitive index dropped by 11. 98 points to close at 384. 36 points. A total of 6,326,105 unit shares of 260 companies were traded for Rs 2. 52 billion. Meanwhile, Nepal Hydropower Developers Limited was the top gainer today with its price surging by 4. 82 percent. Similarly, Chhimek Laghubitta Bittiya Sanstha Limited, Deprosc Laghubitta Bittiya Sanstha Limited, Summit Laghubitta Bittiya Sanstha Limited, Swarojgar Laghubitta Bittiya Sanstha Limited and Naya Sarathi Laghubitta Bittiya Sanstha Limited were the top losers with their price dropped by 10. 00 percent At the end of the day, the total market capitalization stood at Rs 2. 91 trillion.

NHPC India Limited is all set to get one more hydropower project development contract in Nepal. The government is preparing to bring the Indian firm as a co-investor to develop the Phukot Karnali Hydropower Project. Nepali officials have agreed to make NHPC, an Indian government entity, a co-developer of the 480 MW semi-reservoir project. Sources at the Energy Ministry said an understanding was reached between Nepal and India to this effect during the Energy Secretary-level JSC meeting that concluded on Saturday. A member of the Nepali team present in the meeting also confirmed the two sides agreed to make NHPC a partner in the Phukot Karnali project. The agreement, however, was not mentioned in the official press statement. "A draft MoU was prepared during the meeting," said the Nepali team member. "Once it is approved by the Cabinet, a formal MoU will be signed." The Phukot Karnali Hydropower Project is located in Sannitriveni Rural Municipality of Kalikot district. The government-owned Vidhyut Utpadan Company Limited (VUCL) is developing the project. As per the understanding reached with India, now, VUCL and NHPC will jointly develop the project. Once the formal agreement is signed, the construction of the project will start by establishing a joint venture company between VUCL and NHPC. Energy Ministry sources said NHPC will have a 51 percent stake in the joint venture. It has been proposed that Nepal will get 21.9 percent free electricity from the project. NHPC will have to arrange loan investments and guarantee the market for electricity generated from the project. VUCL had received the license to construct the Phukot Karnali Project in 2017. The company has already started the project works including land acquisition. The company was looking for a foreign investment partner to take the project ahead. Phukot Karnali will be NHPC’s third hydropower project in Nepal. Last year, the company had signed an MoU with Investment Board Nepal (IBN) to develop the 750 MW West Seti Project and 450 MW SR-6 Project. The Indian company has already received a survey license for the West Seti while it has applied for the same for SR-6. According to IBN, NHPC has recently submitted the preliminary report of the West Seti Project. NHPC is set to submit a detailed project report (DPR) of the project within 21 months.

The price of gold has dropped by Rs 500 per tola in the domestic market on Thursday. According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow bullion is being traded at Rs 102, 500 per tola today. The yellow metal was traded at Rs 103, 000 per tola on Wednesday. Meanwhile, tejabi gold is being traded at Rs 102, 000 per tola. Similarly, the price of silver has dropped by Rs 10 and is being traded at Rs 1,285 per tola today.