New research from insights-led customer engagement platform MoEngage highlights marketers’ inability to access real-time analytics despite using Customer Data Platforms (CDPs) and Customer Relationship Management (CRM) systems, as 34 percent still struggle with real-time analytics.
The firm released its latest report on the customer journey and campaign insights measured by marketers and the challenges they face due to their tech stack limitations. The study, The State of Insights-led Customer Engagement in North America Report 2022, polled 2,000 marketers at the manager, senior manager, director, and C-level from enterprises, mid and small businesses to learn how customer insights help build an impactful customer engagement strategy.
Meanwhile, 40.4 percent of North American marketers manage customer engagement operations by enabling various marketing functions to operate as independent teams that employ different marketing tools with no actionable insights. This often results in incomprehensible fragmented data, leading to disjointed customer experiences. Thus, campaign planning, execution, and measuring the ROI remains challenging.
The report enumerates various customer, campaign, and journey insights.
Nearly 1 in 4 (23.3 percent) survey respondents measure customers’ interests and affinities such as most viewed content or purchased product, while 20.6% leverage primary data such as customer demographics for decision-making, resulting in brands making blanket assumptions about their customers’ preferences. The survey indicates that marketers in North America fail to understand the importance of measuring customers’ probability to purchase, churn, or preferences to hyper-personalize experiences.
Four in 10 (40.1 percent) marketers analyze the most optimum path to conversion as a part of journey insights. Meanwhile, AHA and drop-off moments received equal responses showcasing that marketers are really focused on active customer acquisition vs retention. The findings reveal that marketers might be analyzing other journey insights; however, their existing tech stack’s limitations keep them from monitoring these insights.
Four in 10 (38.6 percent) survey respondents prioritize their communication channels based on customer preferences and opt-in data, while a meager 15.2 percent prioritize based on behavioral attributes. Consequently, marketers fail to understand the entire customer journey when thinking about new channel engagement to ensure each customer has a relevant path.
“The report findings will help consumer brands understand the importance of measuring deeper customers insights while allowing marketers to understand how their current customer engagement tech stack might be limiting their scope to understand customers better,” said Raviteja Dodda, CEO of MoEngage, in a news release. “Brands need to be customer-centric and proactive in the way they engage with their customers one-on-one to build stronger relationships.”
The report also covers:
- How CEPs provide a microscopic, insights-driven, and holistic view to build a unified customer profile and drive a personalized, omnichannel experience for your customers.
- The reasons why North American marketers struggle with siloed data and insights that do not help them in the long run.
- How to be more customer-centric, unify data across multichannel CEPs, and eliminate internal data siloes to create a customer engagement strategy that gets you the expected outcomes.