The majority of the world's top marketing executives recognise that there are definite shifts coming in terms of customer engagement, but most feel under-prepared to manage these changes, according to a recent IBM study of more than 1,700 chief marketing officers (CMOs).
The study also found that, while 82% of CMOs say they plan to increase their use of social media over the next three to five years, only 26% are currently tracking blogs, while 42% are tracking third party reviews and 48% are tracking consumer reviews to help shape their marketing strategies.
In response to this need, IBM has introduced a new set of integrated services designed to help businesses build and expand their digital marketing presence, to help businesses use technology to build more meaningful and personalised interactions using mobile, social and online channels.
Analytic techniques will be used to drive customer engagement, social marketing and collaboration, and marketing performance optimization efforts. For example, retailers, banks, insurance companies, and communications providers are all challenged to deliver the right offers for their products and services to customers at the right time.
Real-time predictive analytics can ease this task by analysing the growing volumes of customer information - across various structured and unstructured data sources - to provide key insights into customer preferences. Combined with business rules based on knowledge of what offers and actions have proven successful with other customers in a similar situation, the analytics can provide recommended actions for that customer on a personalised basis.
IBM recently worked with a global luxury goods retailer to improve the customer shopping experience for its online channel. To reduce barriers in the checkout process, the company created a streamlined process for browsing and checkout, and also created more targeted customer experiences for mobile smart phone and tablet users, alongside helping the retailer to expand its online presence into more countries.