Customer relationship marketing (CRM) has experienced vast change over the years. Today, brands are grappling to harness customer data at the enterprise level and leverage it to personalize the experience across channels. They are constantly seeking to deepen the relationship by engaging with customers where they are through people-based marketing strategies. There’s no pretending that customer engagement is easy. It requires the orchestration of strategy, data, advanced analytics, technology, campaign execution, and performance measurement.
Highly engaged customers tend to spend more on each purchase and make purchases more frequently, which in turn increases customer lifetime values and decreases customer acquisition costs.
The Key Findings of “Customer Engagement Q3, 2019” Report:
- Data analytics and technology is the main area surveyed marketers reported they will invest in it if they have an extra budget with a rate of 32%.
- 78% of surveyed marketers mentioned that they deliver personalized customer experience in the email using customer data.
- 48% of surveyed marketers reported that their companies decreased their budget of direct mail in recent years.
- 74% of surveyed firms reported that they want to be “data-driven”, compared to 29% who mentioned that they are successfully turning analytics into actions.
- 84% of surveyed consumers indicated that they are willing to leave a product or brand review in an exchange for rewards.
A Graph Shows The Day to Day Functions That Marketers Prefer to Collaborate With Vendors to Achieve It.
The Content of “Customer Engagement Q3, 2019” Report:
- Executive Summary.
- Fundamentals of Personalized Experiences – Start with the Customer at the Center.
- Taking a Unified Approach to CRM and Promotions.
- Fueling Your Digital Transformation Through the Power of Cloud.
- Case Study.
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The insights within this report were derived from a survey conducted by Merkle in June 2019 of more than 200 marketers at major North American brands spanning across industries including retail, travel, financial services, insurance, entertainment, automotive, pharma, and B-to-B.