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BizReport : Advertising archives : March 02, 2018

Despite data prevalence, merchants aren't connecting the customer dots

There is a wealth of data online, from ecommerce to social media and SEM. Still, many merchants are struggling to create an engaging and cohesive customer experience that uses this data. That's the word from the new Solving for CX report out from Verndale.

by Kristina Knight

Researchers found that while nearly all (91%) of brands agree that personal data is key to the customer journey only about half (51%) are confident in their company's ability to serve a data-driven customer experience. Nearly half (46%) say their company must improve on access to real-time data, 40% believe they need to capture additional customer data points, and 38% believe they need to do better analyzing customer data.

"Marketing and technology leaders have come to a consensus on the importance of CX but haven't figured out how to put all of the pieces together yet," said Verndale CEO Chris Pisapia. "Any organization that isn't maniacally trying to solve for a better customer journey will find themselves losing market share to companies that are leveraging marketing technologies to deliver a more personalized experience. Getting it right, however, can result in a number of key benefits to organizations, from boosting the bottom-line to improving customer satisfaction, retention and lifetime value."

Additional findings from the report include:

• 34% say AI is now 'enhancing' their customer experience
• 49% believe AI/machine learning 'can help improve' data processing, provide real time analysis, and building better pricing models
• 31% say real time data insights are the biggest challenge for their company

Additional details from the report can be found here.

Tags: advertising, advertising trends, customer data, data analysis trends, ecommerce, Verndale

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