Key insights: Agile marketing adoption, when data doesn’t sing with CX, opportunities lost, ecommerce rises again

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30-second summary: Finance, health, and high-tech are the most keen on planning agile marketing transformation 38% respondents mentioned that internal silos were a top challenge for delivering great CX Customer experience influenced customers more than it would have 2 years back 50% consumers would switch brands or spend less due to a CX that lacked personalization There’s a huge, yes huge gap in the engagement and send out rates clearly indicating that businesses lost out on opportunities to capture their consumers’ attention Given the ecommerce slump in March, April has seen a 43% thanks to users wanting to make purchases and paid advertising. A lot can happen in a week, and a lot has happened indeed. Our weekly key insights this week brings you an eagle-eye view of the marketing space, across silos in customer experience (CX), agile marketing, and lots more. Data and silos in CX According to content services firm Nuxeo, 63% of UK shoppers stated that exceptional CX boosted their brand loyalty. Data is a waste unless it’s used as fuel to drive a premium customer experience (CX). CSG commissioned a Forrester study on CX, silos, and data management. Of the decision-makers surveyed, 38% of respondents mentioned that internal silos were a top challenge for delivering great CX. These insights speak for underutilization of data for improving and personalizing customer experiences: 57% agreed that the CX budget was spread across various departments to create a more integrated CX plan 85% of companies surveyed said they had more customer data than 2 years ago Mere 29% said they were confident about their data quality 51% said they could use their data to personalize and customize interactions 46% agreed that their data helped them with real-time actionables The survey also revealed that customer experience influenced customers more than it would have 2 years back. 53% respondents reported increased demand for quicker response times 59% respondents said customers demand more personalisation 55% said that customers showed a greater want for well connected online and offline experiences Lack of personalised CX = Less or no return customers A global consumer study by Kameleoon , AI-driven personalisation and A/B testing platform that ran across 5,128 consumers from US, France, Germany and Italy found that 50% of them would switch brands or spend less due to a CX that lacked personalisation. More on the survey results: 73% of consumers said the current digital …

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Key insights: Our pulse survey uncovers key marketing technology trends

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30-second summary: 35% of marketers said their marketing budgets were decreasing, the slump, however, shows signs of recovery in the past week On the contrary, 36% increasing spend on marketing technology while 40% of marketers chose to maintain the same budgets for martech spending ‘Content and experience’ and ‘data’ are the top two technologies marketing leaders are keen on purchasing The least preferred technologies were ‘Social and relationships’ and ‘Management’ We’ve been tracking six core marketing trends since May 1st to identify industry dynamics and project marketing leaders’ thoughts about their budgets, marketing technology spend preferences and more. There have been some remarkable shifts since the first report was released. Read on to derive some exciting insights. Marketing budgets overall see a recovering uptick As the global recession continues to surge, the figures mentioned below reinstate the downward movement trend for marketing budgets. However, if you observe the graph shared …

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New study shows digital engagement is key to post-pandemic ecommerce customer retention

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30-second summary: COVID-19 has accelerated consumers’ shift to online shopping around the world, making digital strategy critical to retailer success, both now and in the future Analyzing these behavior trends yields insights about elevated retention risk, the primacy of mobile, shifts in purchase motivation, and in what drives brand affinity The holiday season will see many consumers planning to spend less, and to support local small retailers, so digital marketers must adapt Best-practice marketing strategies are now mission critical: Focus on customer relevance through personalization, seamless cross-channel experiences, and empathetic messaging across the lifecycle, or consumers will move on As the summer winds down, many of us are holding our breath in anticipation of another wave of pandemic-related headlines, guidelines, and obstacles to business as usual. The only thing we seem to be able to count on is change. That’s certainly the case in the retail industry, which has experienced …

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Key insights: Consumer trust segmented, the power of push notifications, martech stacks lack strategy, and more

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30-second summary: Healthcare and educational institutes win consumer trust while media and government struggle March saw push notifications reach their highest direct open rates and 32% of website visits were through these mobile app push notifications Mobile remains the best way to engage people with push notifications DemandLab’s recent ‘Martech stack optimization survey’ reveals that 53% of marketing leaders have no plan in place for their martech stacks Deals have shown a positive graph, Australia and Germany are opening up their economies due to some relief from the COVID-19 hit Conviva study segments streaming behavior across regions and devices – TV, PC, live streaming, and video on demand Standard ads vs COVID-19 based ads, what performed better? More on what CMOs’ immediate budget actions should be Information is power and mental health is key. In light of current events, we took the onus to save you the effort and have …

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COVID-related digital behaviors that won’t going away in 2021

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30-second summary: Market volatility and rapid shifts in consumer behavior will continue in 2021. The longer the COVID pandemic goes on the more ingrained digital behaviors become. Shoppers are buying more online and spending more when they do. Consumers are becoming more comfortable online experiences over with time. Taking in-store experiences and taking them digital is becoming more common. Search and market insights are becoming mission-critical for all marketers To say the last several months have been a roller coaster would be an understatement. This year has been one for the books as we’ve collectively experienced something no generation before us has: the impact of the COVID-19 pandemic on a constantly connected, technology-empowered population. We’ve run the gamut of emotional states and economic impacts. As brands and consumers alike prepare for our most unusual holiday shopping season yet, it’s become clear that we’re in this for the long haul. While …

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Top marketers highlight 5 common themes about the impact of 2020 on business

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30-second summary: ClickZ interviewed four marketing leaders from industry-leading organizations including eBay, IBM Watson, FILA, and Salesforce with the goal of understanding how 2020 has impacted their business, marketing strategy, and plans. Although each company has different goals, business models, and customers, five common themes emerged about this year’s impact on business. The five themes for 2020, in a nutshell, are: change, personalization and data, adaptability, an optimized mobile experience, and the importance of being helpful (and relevant). Surveys, data, and trends reveal a lot about the impact 2020 had on businesses and consumers, but it’s also helpful to get the perspective of marketing leaders who have firsthand experience navigating how this very unusual year has impacted their business and clients. ClickZ interviewed four executives at eBay, FILA, Salesforce, and IBM Watson/Weather to get a better understanding of how the coronavirus and 2020 impacted their approach to marketing, influenced their …

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Key Insights: Ecommerce, customer loyalty, the playbook for Q3 and Q4 2020

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30-second summary: The US has anticipated a 12% drop in private consumption over the next two years, with recovery to pre-crisis levels only by 2023-24. Customer loyalty has taken a huge hit and the holiday shopping season is arriving sooner than expected. A quick look at the app economy and digital environment trends. Good news is, the daily average usage (DAU) has shown a steady growth which will continue as the holiday shopping season arrives. How you can activate more sales for your ecommerce business. Place your pieces strategically to checkmate adversity and your competition for the rest of 2020. The global pandemic has reset the business chessboard. Customer loyalty has taken a huge hit and the holiday shopping season is arriving sooner than expected. Businesses have felt the heat this summer. This week we’re looking into the ecommerce and customer loyalty stats (fresh in) to help you create a …

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Key Insights: Ecommerce, omnichannel marketing, CTV, and holiday season conversions

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30-second summary: 73% of online shoppers are expected to chase post-holiday bargains while 76% of eBay buyers plan to take advantage of after-Christmas and New Year shopping deals. 33% of brands that shifted their ad dollars in Q1 and Q2 of 2020 moved money to ecommerce. SMS conversion rate increased 98% over Q2 making it a priority to add SMS to email strategies. Three must-have omnichannel touchpoints to induce conversions. CTV ad impressions grew by 2X, 55% YoY, the only medium to see such accelerated growth. 23% of consumers are more comfortable sharing data about their likes/dislikes, gender, and location data. 56% of businesses without CDPs have limited ability to apply insights holistically across their marketing efforts. D2C retail companies have a customer-first approach that is 2X better than their non-transactional counterparts. This week we share revenue-driving insights on omnichannel marketing and CTV advertising that can help ecommerce businesses increase …

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Key insights: AI Summit highlights, microbrowser advertising, and customer engagement sweet spots

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30-second summary: We’re not in a “post-COVID” world, we’re in a “coexisting-with-COVID” world where essentialism and humanization will matter the most Now is the time for marketers to dive into their data and reconsider the technology they use to understand the customers’ pulse Emerging habits of the “Interim Normal” The common line of vision for the bigger picture of the oncoming times will be based on hyper-targeted advertising and marketing Keeping it light, engaging, and interactive isn’t an option anymore – it’s a prerequisite for brands wanting to succeed at marketing and advertising More on the big-four of microbrowser advertising, the sweet spot for engaging your audience globally, and the secret sauce to marketing success in emerging times The answers lie in the data and how it is digested and applied will continue to play a vital role. Today we’ll take you through key takeaways from our AI Summit, new …

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Key insights: Effect of COVID-19 on consumer behavior, the world’s more video content savvy, and Apple shakes up AR

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30-second summary: According to Global Web Index’s findings, 80% of consumers in the U.S. and UK say they have consumed more content since the outbreak. According to emarketer, 49% of marketing professionals and agencies held back a campaign launch until later in 2020 and 45% stopped or paused a media campaign midway. Admoik shared that there was a 17.2% drop in week-over-week ad revenues, direct deal and programmatic guarantee being the biggest drops. Despite the 8.3% decrease of retail industry’s M&A deals, Apple acquired AR technology startup, NextVR for a $100 million with an intention to launch its AR headset in 2022 and AR glasses in 2023. 53% of consumers prefer brands to communicate through TV ads. According to McKinsey, UK, Spain, and Italy are least optimistic, whereas the US (37%) and China (48%) are optimistic about their economies jumping back to normal in the next two-to-three months. Purchases are …

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Brands aren’t using the full slate of available first-party data

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30-second summary: Invoca surveyed 500 B2C marketers within a range of industries, each of whom oversee a budget of over $1 million, to gain insight into how they view first-party data and what they’re using to access and collect data. 90% of respondents are confident or very confident with purchase history data followed by 86% with company website data. Phone call data was lowest on the list of data sources that inspire confidence. Websites were the number one source of data that marketers used to inform digital marketing strategy, followed by mobile apps and purchase history. Just 26% of respondents listed phone call data as a source that informed their digital marketing strategy. Most marketers don’t have a clear vision of how to leverage data across channels. Respondents who use call tracking were more likely than those who didn’t to invest in both online and offline conversations. 92% of respondents …

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