Main Roadblock to Progress Is Data; 85% of Companies Unable to Extract the Full Value From What’s Available to Them
SAN JOSE, CA and LONDON, UNITED KINGDOM – Ensighten, the leading global omni-channel data and tag management provider and company behind the Open Marketing Platform, published new research alongside Econsultancy, finding that customer experience optimization is becoming an increasingly critical discipline as organizations enter a new era of marketing. Ninety-six percent of companies deem customer experience optimization as “important,” with more than two in five companies (41 percent) claiming that this is now a “high priority” for their organization, according to the study.
With brands fighting for the attention of the always-on consumer, organizations are now keen to optimize customer experiences, as 94 percent believe doing so will result in higher engagement and conversion rates. Further, 66 percent also cite better brand perception as part of the resulting upside.
“We have entered a new era of marketing, with data and marketing technology now affording unprecedented opportunities for developing a more customer-centric approach,” said Bola Awoniyi, Research Analyst, Econsultancy. “Focusing on developing customer experiences can create a more loyal and engaged customer base which is an extremely valuable competitive advantage in today’s fast-paced commercial environment.”
However, the majority of marketers are not yet positioned to deliver the most relevant and personalized experiences, according to this research. Standing in the way of these benefits are the vast and complex datasets businesses need to manage and use in real time and at scale.
Nearly two-thirds (62 percent) often feel overwhelmed by the volume of incoming data, and a staggering 85 percent are unable to extract the full value from the data sources they have access to. Just 3 percent of businesses claim they have a strong capability when it comes to using cross-channel or cross-device data for either real-time website or mobile app personalization.
“Marketing organizations continue to struggle with large data and technology silos, as well as with shortage of talent to overcome them,” said Boaz Ronkin, SVP of Product, Ensighten. “To maximize the return on investment in their marketing technology stacks, CMOs must look for integrated solutions that excel at joining disparate systems, rather than add new standalone systems into the mix.”
The inaugural Econsultancy Customer Experience Optimization report takes a close look at how organizations are responding to the increasingly essential task of approaching customer centricity by harnessing data and technology. It also assesses the benefits of customer experience optimization, the data collection and analysis practices currently being employed, and the challenges companies face in improving their capabilities in this area.
The research is based on a survey of over 600 companies and agencies carried out between November and December 2014.
The full Customer Experience Optimization report is available to download here via:
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Ensighten, the global leader in omni-channel data and tag management, is changing the face of digital marketing by transforming the way enterprises collect, own and act on their customer data across all marketing channels and devices. The Ensighten Open Marketing Platform enables enterprises to achieve true one-to-one personalization, accelerate the execution and optimization of their marketing initiatives and deliver superior user experiences. Ensighten, with its unique hybrid-tagging technology, powers companies generating over $1.9 trillion in revenue in over 150 countries. The world’s leading brands (Microsoft, Capital One, United Airlines and T-Mobile) achieve marketing agility by implementing Ensighten’s single line of code. Ensighten is headquartered in San Jose, with offices in San Diego, London and Sydney. To learn more visit www.ensighten.com, and join the conversation on LinkedIn linkedin.com/company/ensighten and Twitter @ensighten.