Customer experience optimization is becoming an increasingly critical discipline as organisations enter a new era of marketing, according to research published by Econsultancy and omnichannel data management firm Ensighten.
The study found that 96% of companies deem customer experience optimization as "important", and more than two out of five companies (41%) say that this is now a "high priority" for their organisation.
With brands fighting for the attention of the always-on consumer, organisations are now keen to optimize customer experiences, as 94% believe doing so will result in higher engagement and conversion rates. Furthermore, 66% also cite better brand perception as part of the resulting upside.
"We have entered a new era of marketing, with data and marketing technology now affording unprecedented opportunities for developing a more customer-centric approach," said Bola Awoniyi, Research Analyst for Econsultancy. "Focusing on developing customer experiences can create a more loyal and engaged customer base which is an extremely valuable competitive advantage in today's fast-paced commercial environment."
However, the majority of marketers are not yet positioned to deliver the most relevant and personalised experiences, according to this research.
Standing in the way of these benefits are the vast and complex datasets businesses need to manage and use in real time and at scale.
Nearly two-thirds (62%) often feel overwhelmed by the volume of incoming data, and a staggering 85% are unable to extract the full value from the data sources they have access to. Just 3% of businesses claim they have a strong capability when it comes to using cross-channel or cross-device data for either real-time website or mobile app personalisation.
"Marketing organisations continue to struggle with large data and technology silos, as well as with shortage of talent to overcome them," said Boaz Ronkin, SVP of Product for Ensighten. "So CMOs will need to look for integrated solutions that can join disparate systems rather than adding more standalone systems into the mix."