To achieve their most critical business objectives, marketers today should have one major goal when it comes to their marketing: get smarter. Insightful content delivered accurately isn’t a nice to have; it’s a requirement. According to recent research by the CMO Council and Microsoft, 74 percent of online consumers get frustrated when the content presented to them has nothing to do with their personal preferences.
Are you paying attention? Your consumers are demanding a more meaningful relationship with their chosen brands. We’ve talked a lot about personalization – its importance and relevance – but when it comes to marketers who are succeeding and failing in these efforts, where is the disconnect? What does smart engagement with customers look like? And how can your team wise up? Let’s take a look.
“Consumers are demanding a more meaningful relationship with their chosen brands.”
The problem with the best of intentions
The relationship between marketers and customer data-driven engagement is a lot like the relationship between people and their new year’s resolutions – you start off with the best of intentions but the execution isn’t always quite on target (and that’s generous).
In an audit of senior marketing professionals, the CMO Council found that the majority of decision-makers are in an ongoing battle between intent and execution. The data reveals that there is a deep desire to effectively implement more data-driven content but the systems through which that data is collected and distributed isn’t quite on par. While there is some promising growth in modern marketing efforts, leading marketers are still struggling to fully capitalize on truly effective personalization.
One of the biggest challenges lies in omni-channel data capture. A mere 14 percent of marketers report being able to leverage relevant data across the entire customer journey. Nearly 40 percent of respondents are confident in their ability to personalize for single channels but their efforts to align the right data in the right areas are inconsistent. Most notably, one in four marketers admit they are outright failing in terms of evolving their customer experience metrics. Tie these pain points together and you’re serving up poorly-timed, irrelevant interactions that waste marketing dollars and test your customer’s patience.
Getting it Right
On the upside, the study did also find that 26 percent of marketers are totally confident in their targeted marketing efforts. So despite the pain points mentioned above there ARE marketing leaders out there who are hitting the mark. So, what are they doing differently?
Well, for starters, they put an extreme focus on marketing driven by consumer data as a path to retention. In fact, 79 percent of marketers who reported confidence in their efforts used retention rate improvement as one of their core success metrics.
Of respondents who were unsure of their efforts, only 14 percent claimed their customer journeys were crafted from relevant consumer data and predictive analytics. In comparison, 21 percent of confident marketers reported they based their efforts on this information. Their strategies were also more focused on omni-channel realities – understanding that customers move across devices at different points of their journeys. This knowledge helps these marketers better comprehend how and where to market what and to whom.
In essence, smarter marketers are paying more attention to high-level personalization as a path to success. Instead of viewing this approach as a small (but powerful) tool, they see the data-building and cross-device capturing required for effective customer engagement as a key business function in terms of marketing.
Are you part of the 74% who aren’t totally confident?
We can help. For starters, what we call “individualization” is a complex strategy with a lot of moving parts. Smart marketers have mastered the craft of omni-channel efforts and learned to capture data in order to create the content their consumers are demanding.
“Lucky for you, we are pros on this very subject.”
Modern-day marketing leaders MUST leverage the right platforms to cater to the omni-channel nature of the customer journey. From collecting and discerning the intent of first-time visitors and loyal customers to remembering product selection and catering your messaging accordingly, leaders must focus on customizing content on multiple levels. Lucky for you, we are pros on this very subject so let’s get smart together.