A marketer’s ability to innovate and effectively exploit customer digital information is crucial for survival in today’s turbulent business environment. A new Econsultancy research report called The Consumer Conversation: The experience void between marketers and their customers commissioned by IBM found that a brands ability to innovate was being outpaced by consumer expectations.
Econsultancy conducted research on more than 250+ marketing brands and more than 1,100 consumers to understand the importance of personalization. Roughly three quarters of Marketer’s believed they delivered superior online customer experience, yet of the Consumers surveyed over half left their vendors from having less than an exceptional experience.
In a digital age a brands agility depends on having the right information. Creating immersive multichannel customer experiences will not be enough. Listening to customers at every touch point across multiple channels and product lines while still meeting the demands for real-time customized execution is what will lead to differentiation from other brands.
While Marketer’s may think they have a holistic view of their customers, Consumers would claim otherwise:
Only one in three consumers believe that their favorite companies understand them.
Of those who switched consumer services in the last year, most did so for reasons companies should be able to predict and prevent.
Of the nearly 50% who experienced a significant service issue in the last 12 months, only 28% say that the company dealt with it very effectively.
Consumers share a solemn account of the quality of the retail and service relationships in their lives. Trust still matters! Consumers are willing to give their information to brands they trust, however they rightly believe that there should be significant value in that exchange. Read the report to see why they’re not getting it!
The report sheds light on the importance to understand different customer segments, or even individuals, and then to tailor engagement to the needs of those segments and individuals. More often than not, in the course of a conversation, a mobile page view, and/or an iPad search, a customer will divulge information that is vital to your overall success.
We find that offering consumers direct choice to receiving a barrage of relevant messages can run counter to the optimal experience .
56% of consumers felt most brands communication being irrelevant
Given a choice, a Consumer may likely choose the minimum in receiving messages if the alternative offers value at the moment in context. An important leap when you have established trust. Consumers are willing to share very personal information with their favorite brands presuming you genuinely understand them.
The research findings essentially emphasize the importance of listening to the customer, however filling the gap through flawless marketing execution will be contingent on what you do next.
Discover a new approach. Refine what you do today. Take a moment to learn more from this report.
We are tremendously proud to share that IBM was ranked as a Leader in The Forrester Wave™: Customer Analytics Solutions, Q2 2018 report! About the report The Forrester Wave report provides an assessment on a new type of customer analytics software categorized as “do-it-for-me” (DIFM) and evaluates key criteria for marketing and CX buyers to […]
With the General Data Protection Regulation (GDPR) becoming law, marketers must be progressing on the GDPR journey. From email campaigns to digital websites including mobile and social channels, GDPR impacts the way marketers are able to capture and manage personal data. In essence, marketers must rethink how they observe and address the market and what […]
As the leader in AI-powered marketing solutions, we help organizations of all shapes and sizes harness data to deliver competitive, actionable insights that lead to better customer understanding and engagement. But are you making the most of your IBM investment to deliver personalized experiences at scale while freeing yourself up to be more innovative and […]