What is this report about?
This report was created after surveying 2000 marketers and product managers across the globe to get a pulse on how current customer engagement is managed. Also, to understand what insights marketers scrutinize to create a personalized experience and increase customer lifetime value using a customer engagement platform . The report results also shed light on how companies have changed their approach to engagement since the past year.
What regions were covered in this report?
We surveyed marketing leaders and product managers from Europe, India, North America, Middle-east, and Southeast Asia regions hailing from industry verticals such as Consumer Shopping (Retail and E-commerce), Banking and Fintech (BFSI), Ed-tech, Media and Entertainment, Telecom, and Travel and Hospitality. There are some sub-verticals such as Grocery, Hotels, and likes included.
What insights does the report contain?
The report contains survey findings on the challenges faced by marketers while planning engagement efforts, their approach to customer success, factors they currently base their campaigns on, insights they capture when it comes to journey, campaign, and customer insights, as well as how they personalize engagement.
Why is there a trend to move from campaign-centric to customer-centric engagement?
Typically, engagement is looked at through a very campaign-focused, hypothesis-driven lens. These workflows might run on a marketer's idea of what the customer really wants, so the results only have a short-term impact. The insights-led engagement approach considers their preferences, behaviour, existing data, and buyer patterns across various channels. The availibilty of artificial intelligence driven platforms are also encouraging an insight focused approach for businesses.
What do you mean by insights-led engagement? How is it different when compared to the current engagement approach?
The current engagement approach has marketers plan campaigns, run them, analyze the results these garnered, and course-correct. This approach has the customer sidelined. On the other hand, the insights-led engagement approach is a continuous loop that uses behavior, preferences, or affinity to generate real-time insights by monitoring behavior, existing data, and buyer patterns across various channels. It is also built to examine data at scale and leverage it to predict customer behaviour in the future.
What are customer insights, and how could they improve customer experience?
Customer insights are interpretations of data on their behavior, activity, interest, and attributes. The goal of gathering these insights is to fuel effective personalization. These insights and others on the journey and campaign effectiveness can help you with accurate personalization, facilitating a frictionless experience, and predicting actions like churn, dormancy, or uninstalls.
How can marketers gather journey, campaign, and customer insights?
Streamlining the data you’d receive from online and offline sources is the key to gathering insights. Majority of the survey respondents (41.35%) state that their teams (marketing, social media, mobile, email teams) either separately plan and execute engagement or centrally plan and independently execute engagement efforts. Only a tiny percentage of those surveyed report that their planning and execution are centrally aligned. This siloed approach hampers the collection of insights. To gather this data from across your omnichannel engagement, build a 360-degree unified customer profile that includes their attributes, activity across channels, campaign interactions, and more. It will also help you in your overall business growth.