New research from the Chief Marketing Officer (CMO) Council and RedPoint Global reveals that — though today’s omni-channel customers are more connected than ever — too many organizations are failing to keep pace with customer expectations.
Those “frictionless experiences” are too rare, despite the mountain of data, analytics, and engagement systems currently available.
“Only seven percent of more than 250 marketers surveyed are able to deliver real-time, data-driven engagements across both physical and digital touchpoints,” the study notes. “Furthermore, only 5 percent are able to see the bottom-line impact of engagements in real time, primarily due to the current processes requiring manual transport of data and intelligence from disconnected systems.
“Empowering the Data-Driven Customer Strategy: Addressing Customer Engagement From the Foundation Up” analyzes the gaps between strategy and execution that prevent marketers from creating seamless, real-time engagements with today’s connected customers.
“While the customer wants to see real-time responses and reactions to their behaviors, what we are finding is that marketers are still dealing with complex processes and offline data, which is delaying their access to the intelligence they need to create the next best action with a customer,” according to Liz Miller, Senior Vice President of Marketing for the CMO Council.
It’s not that marketers haven’t tried. The report notes that — in an attempt to provide engagement capabilities — organizations have willingly adopted a number of new technologies, and the marketing technology stack has continued to grow. In fact, in the past five years, 42 percent of marketers have installed more than 10 individual solutions across marketing, data, analytics or customer engagement technologies, and 9 percent have brought on more than 20 individual tools or solutions.
But, during that same time, marketers have gone through numerous rounds of “rip and replace,” with 44 percent of marketers indicating that they have spent more than 25 percent of their marketing budgets to replace existing technologies.
There’s lots more to glean from the full study. You can access it here.