Though marketers are the creative engines of business, they’re not immune to playing the numbers game much like everyone else. KPIs mark how well internal strategies are paying off and performance metrics can give a more granular view into how effective certain campaign decisions have been. Benchmark data or consumer statistics can be a great way to gauge overall consumer sentiment and predict which emerging trends will be valuable for your business.
With the new decade well and truly upon us, there has been no shortage of breaking studies on what’s in store for marketers in the next 10 years and what consumers will expect. Some findings are on the more obvious side: consumers want more personalization, and marketers want to deliver it. But, there are quite a few studies with surprising results, and huge implications for your business in 2020 and beyond.
74% of marketers say it is important to have a cohesive omnichannel experience, and 73% of shoppers use more than one channel during their shopping journey.
As consumers, we hop from channel to channel to make decisions and purchases. We might get emailed a great discounted item, research that item online, check a brand’s mobile app to see if it’s in stock nearby, and complete the purchase at a brick and mortar location. 20 years ago it was totally feasible that your customer might only encounter your brand at one touchpoint, but that’s simply no longer the case.
Marketers have been quick to adapt to changing retail landscapes and bring in these new channels. And, more than 2/3rds of marketers know it pays to have a seamless journey across these touchpoints, but that’s easier said than done.
You can’t fake a true multi-channel experience with the “best” of every platform (mobile, SMS, email). You need a system that understands all these touchpoints from the ground up to build a great customer journey. Blueshift leverages all of your 1st party data and channel feedback data to create Single Customer Views to ensure that every communication is being informed by the fullness of your data.
76% of consumers expect companies to understand their needs and expectations.
It’s an Amazon world, and we’re all just living in it! All jokes aside, personalization behemoths like Amazon and Netflix have leveled up consumer expectations on the kind of recommendations we serve up and consumer statistics prove it. So, it’s no wonder that the majority of shoppers expect us to guess their next move.
Though that may seem like a tall order, you don’t have to be psychic to know what your customers want. With the power of Predictive Intelligence and AI-powered Personalized Recommendations, non-technical marketers can market like mind readers. If your business has a solid foundation of data already built out, Predictive intelligence can be used to determine what messages should be sent (at what time and on what channel) to convert your most high-value customers. AI-powered recommendations take the guesswork out of personalization, with dynamic content populating the messages you send, and even your live site. With the right data and AI tools at your disposal, it’s easier than ever before to keep ahead of your customers.
Consumers who have an emotional connection with a brand have a 306% higher lifetime value.
Humans are deeply emotional creatures and we’re quick to make emotional ties with the things we love. It might be movies, a favorite food, or even a brand. It’s no surprise that when we have an emotional connection with a brand, we spend more. A lot more apparently, according to consumer statistics.
But, how do marketers build an emotional connection with customers they’ve never met? Take a cue from the salespeople of yore: know your customers inside and out. With solid 1st party data collection, rationalization, and activation it’s possible to speak to customers as if they’re lifelong friends. A brand’s ability to provide these meaningful experiences will, in turn, ingratiate consumers to your business and firm emotional ties to your brand. Provide 1:1 recommendations at optimal times for repeat conversions and grow your loyal band of followers.