2/18/16 10:00 am PST/1:00 pm EST/5:00 pm GMT
According to the newly released study, “Predicting Routes to Revenue,” marketers intend to look directly at personalization as a key strategy to maximize customer value in 2016. In fact, according to the insights from more than 150 senior marketing decision makers, 58 percent will be adding more personalized experiences that are directly based on customer data. However, only 16 percent of marketers in the same study admitted they are delivering a customer-centric experience that fulfills brand promises and value at every step of the experience.
- 44 percent of marketers admit they do not have good visibility into customer lifetime value and retention rates
- 36 percent feel that the current market environment is cluttered and confused, with a mass of online and offline communications adding to the noise and making it more challenging to engage with customers
- 47 percent of marketers are collecting and analyzing data separately, creating an environment of disconnected channels and disconnected intelligence
So where will marketers need to invest, innovate and advance in order to reach their goal of delivering on the power of personalization? With an ever-growing list of marketing priorities, what personalization priorities exist? How do we ensure that the investments in talent and technology are moving the revenue needle? How do we finally put an end to “random acts of marketing” and, once and for all, create a connected, multi-channel experience that is in the context of the brand and the customer? What does the must-do punch list for prioritization look like for the entire customer-engaging organization?
The CMO Council gathered a roundtable panel of guests to discuss the key marketing priorities that will make personalization a priority in the coming year. This was an hour-long roundtable discussion of the needs, issues, challenges and big wins that marketers can achieve in the coming year. Joined by the CMO Council on the panel were experts from Pegasystems, who provided industry best practices and insights from leading brands.
Liz Miller - CMO Council, Vince Jeffs - Pegasystems, John Ingersoll - CSAA Insurance, Amy Michaels - T-Mobile