CUSTOMER EXPERIENCE: THE KEY TO SUCCESS?

THOUGHT LEADERSHIP

Our attention was recently caught by new research into key digital trends set to dominate the agenda over the next year, produced by Econsultancy in partnership with Adobe.

 
The report, which surveyed more than 800 marketing and advertising professionals, revealed that creating compelling content for digital experiences (17%) is the single most exciting opportunity for advertisers, narrowly ahead of data-driven marketing that focuses on the individual (16%).

The research included input from more than 12,500 professionals and suggests that building world-class, personalised customer experiences that are built on a foundation of integrated marketing and CX technology will reap rewards for businesses. Of the companies surveyed, those that focused upon building long-term customer experiences were found to be the most successful and were almost three times more likely to surpass their business goals than their competitors.

The success of brands who focus on customer experience is perhaps unsurprising given that it now costs on average five times as much to attract a new customer than it does to retain an existing one. It is probably for this very reason that, according to the research, more brands are becoming wise to the benefits of customer loyalty.

In total, two-thirds of marketers cited content and experience management as one of their top priorities, indicating that many brands are aligning their focus on building fruitful long-standing relationships as opposed to seeking immediate results with new customers.

The importance of building such relationships with customers is emphasised in the research by James Keady, Director of Digital Engagement for Asia and EMEA at Citibank, who says: “People expect brands to have a bespoke relationship with them. From entry point millennials to retained high net worth clients, they may have different needs but increasingly they expect the relationship to be personalised.”

The benefits of developing a personalised relationship with customers are also mentioned by Angus Cormie, Ecommerce Director for Consumer and Small Business at Dell, who states: “Personalisation is a big investment for us. Every time we run a campaign, we get a good payback. It’s one of the single biggest ROI investment areas that we make.”

Overall, the findings from the ninth annual Digital Trends Report from Adobe and Econsultancy clearly highlight the importance of building customer experience strategies with an emphasis on personalisation. This offers brands a great opportunity to achieve success by crafting personalised engagement and loyalty offerings that go over and above core business communications and align more deeply with increasing customer expectations and demands.

If you’re interested in developing a loyalty scheme in line with the demands of your customers, get in touch to discover how ELLO Media could help, or download our Understanding Customer Expectations of Brand Loyalty Programmes report to learn more.

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