New CMO Council Research Finds 73% of Frustrated Consumers Ready to Abandon Brands
Consumers across generations and geographies are flocking to digital self-service channels when engaging with brands, yet many get frustrated when their needs aren’t met. This frustration has led to 73% of consumers questioning why they’re doing business with the brand.
A new Chief Marketing Officer (CMO) Council report, produced in partnership with Precisely, entitled “How Covid Has Changed The Channels Of Engagement,” covers critical channels of exploration and engagement, the rise of digital channels such as interactive and personalized video, the influential role of traditional channels, problems that cause consumer frustration and brand abandonment, and how different generations prefer to engage with brands.
Download the report at: https://cmocouncil.org/thought-leadership/reports/how-covid-has-changed-the-channels-of-engagement
Key findings include:
The urgency to deliver a seamless digital experience across the key channels of engagement has only increased as the current pandemic continues to push consumers online. The report shows how this has exposed brands’ digital shortcomings.
Problems include consumers lacking an escalation path to a live person, receiving non-personalized or out-of-context messages, having to repeat themselves in different channels, and being unable to pivot to channels of their choosing.
“For years, brands have touted robust digital transformations, that is, their ability to engage with customers digitally,” notes Donovan Neale-May, executive director of the CMO Council. “The pandemic accelerated this by forcing consumers to turn to digital channels, thus putting a brand’s digital transformation to the test. The result was that many brands’ digital channels were lacking in some way.”
The report also found differences among generations in their channel-engagement preferences. Gen Zers, for instance, are more likely to exhaust digital self-service channels before reaching out to a live person. Younger generations were also more willing to share personal data in exchange for better, faster and more personalized service.
“Seamless, personalized and digital self-service experiences across the key channels of engagement are what’s driving the customer experience of tomorrow,” explains Greg Van den Heuvel, EVP and GM at Precisely for EngageOne. “When customers are moving between channels, don’t make them reintroduce themselves each time. The experience has to be frictionless and must take into account the previous engagement they’ve had with your organization. Those that fail to embrace the ‘new normal’ and deliver seamless digital experiences will fall further behind their competition.”
The report is based on a survey conducted in October of over 2,000 consumers spanning five generations (i.e., Generation Z, Millennial, Generation X, Baby Boomer and Silent Generation) and six countries (i.e., United States, Canada, United Kingdom, Ireland, Australia and New Zealand).
About the CMO Council
The Chief Marketing Officer (CMO) Council is the only global network of executives specifically dedicated to high-level knowledge exchange, thought leadership and personal relationship building among senior corporate marketing leaders and brand decision-makers across a wide range of global industries. The CMO Council's 16,000-plus members control approximately $1 trillion in aggregated annual marketing expenditures and run complex, distributed marketing and sales operations worldwide. In total, the CMO Council and its strategic interest communities include more than 65,000 global executives in more than 110 countries covering multiple industries, segments and markets. For more information, visit https://www.cmocouncil.org.
Precisely is the global leader in data integrity, providing accuracy and consistency in data for 12,000 customers in more than 100 countries, including 90 percent of the Fortune 100. Precisely’s data integration, data quality, location intelligence, data enrichment and customer engagement products power better business decisions to create better outcomes. Learn more at www.precisely.com.
Precisely’s Customer Engagement Solutions division offers a range of products that help businesses use data-driven insights to create seamless, personalized and omnichannel communications and connect with customers using the right channels, with the right messages, at the right time.