Your Next Big Opportunity? Listening to Your Customers
Our recent survey of marketing leaders unearthed several enlightening insights, but none more shocking than what we call The Great Disconnect, the gap that exists between what consumers expect and what brands do. For savvy, adaptable brands, it represents a huge opportunity to break away from the pack.
We recently surveyed 323 marketing decision-makers about their views on marketing, budgets, technology, acquisition vs. retention, future plans, tactics, and challenges. We handed them no less than 25 questions. That’s plenty, we know, but it allowed us to dive deep into the issues, and we did thank them.
We also tried to gauge their positions on personalization, data, messaging consistency and relevancy, cross-firing and conflicting campaigns, marketing automation, measurement, and more. Did they enjoy the process? That’s debatable. Did we gain plenty of insight from the results? Oh yeah.
The result is an incredibly comprehensive view of the state of B2C Marketing in general, the digital aspect of it, and the professional psychic of the people who run it. But, perhaps above all, the results really tell us – and, more importantly, you – where your next opportunity may come from.
Here’s a for-instance: say we ask marketing leaders about adopting customer-centric, data-driven CRM Marketing capabilities that empower cohesive messaging and the ultimate personalization. Say they admit it’s not something they live by. At the same time, we know that consumers worldwide say those are a top priority and that the tools to achieve those are readily available. What we have here is a gap. And where there’s a gap, there’s an opportunity for those marketers who adapt faster.
Marketers vs. Customers: The Great Disconnect?
Let’s face it, the need for AI-based, data-driven, multichannel personalization marketing isn’t going anywhere. Quite the contrary, it will become more prominent.
Realizing your competitors are behind in truly getting it spells a vast green field and a land-grabbing opportunity for those who dare to stare reality in the eye.
The thing that really surprised us – personalization buffs and data-driven marketing crusaders that we are – was the following. 4 of every 10 marketing leaders said they didn’t view it as a negative thing for their brand to clutter customers’ inboxes with irrelevant and even conflicting messages, sometimes on the same day.
There is no doubt customers don’t like inbox-cluttering practices. Do you? But it’s more than a hunch; it’s a well-based insight – as evident from our own follow-up research, other reports, and Optimove data. Our data show enhanced Customer Lifetime Value for brands that excel at personalization and multichannel orchestration. Shocking? You said it.
We were taken aback, but then we had a glass of ice water with ice and realized: this is a massive opportunity for many savvy marketers who either work with Optimove or follow our content.
Or Die And Win
We decided against it, but the notion did not change. Too many marketing decision-makers completely overlook their customers’ needs. We live in an era of quickly-changing customer behaviors and flimsy loyalty. The one thing that can help brands acquire the best customers and help them keep their existing ones longer is the same thing those 4 out of 10 marketers still fail to see. It’s just how key AI-led, data-based realtime cross-channel personalization is to any brand’s long-term success.
Still, this isn’t a case of win-by-showing-up for marketers. No, there’s still a lot to master here. From collecting and using zero- and first-party data appropriately, measuring the right things (and moving away from vanity metrics like “opens” and “clicks”), mastering micro-segmentation, trusting AI, and pushing your teams to more automation and less gut-based campaigns ideation.
And if you need even more context, insights, or would like to talk about leveraging all the knowledge to win at Retention Marketing overwhelmingly, just hit us up.
We’ve been dropping some knowledge from that research in previous blog posts. Find them here:
- Numbers Talk: On Mother’s Day, Existing Customers Are Worth 3X New Customers (May 26, 2022)
- The Antidote to Rising CACs is Right Under Your Nose (June 8, 2022)
- Add “The Declining ROI of Mobile Marketing” to the List of Pains Holistic Multichannel Strategy Relieves (June 16, 2022)
Exclusive content for Optimove Ambassadors:
- Exclusive: Early Sneak Peek into Optimove’s Acquisition, Retention, Data, and Tech Survey of 323 Marketing Leaders (April 20, 2022)
- Exclusive: The Great Disconnect: an Exclusive Early Look into a ‘State-of-CRM Marketing’ eBook (May 24, 2022)