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CONSUMER EXPERIENCE RESEARCH STUDY: THE END OF AI-MLESS MARKETING Consumers are increasingly accepting of AI in marketing, as long as it delivers a great customer experienceFOREWORD Poorly-targeted and irrelevant marketing materials are driving consumers away from their favourite brands. In research conducted with more than 2,000 UK consumers, weve found that only 6% of them believe the product and service offers they receive are clearly relevant to them. Thats despite over 60% demanding the offers sent from their favoured brands be tailored to them and their interests. These poor attempts at personalisation are having an adverse impact on customer experience. An alarming 2 in 5 consumers (41%) swear they wont purchase from a brand again if they receive irrelevant marketing materials, causing irreparable, long-term damage to thousands of brand-customer relationships. While the research indicates a failure of brands to deliver on that promise of marketing, which says, “we will send the right information to the right person at the right time,” it also demonstrates the market opportunity for businesses that put personalisation at the heart of their strategy and ensure tailored content is consistently provided to consumers. Whats essential in cultivating strong customer loyalty is building trust and an understanding of what matters to the individual. Technology can help bridge the gap between what marketers are able to do and the level at which they need their customer engagement to be. engine Magic Quadrant this year which highlighted a 35% increase in personalisation engine revenue between 2017/18, a reflection of the substantial growth being chalked up to this part of the marketing technology ecosystem. Its essential then that organisations prepare themselves for the future of marketing, now. But no one says its easy to transform the customer experience overnight, particularly at scale and across multiple channels. It requires a commitment to creating one source of qualitative and accurate customer data across the business. In this sense GDPR is a welcome development as both an enabler of AI and a building block of trust. There are also questions of upskilling marketers and engagement with the senior leadership team to ensure that everyone is working towards the same end goal. Only then will brands see real progress. This report looks at the customer experience that businesses are currently delivering and the gap that exists between reality and consumer expectations. Well also outline how brands can take advantage of technology to transform how they engage with customers, as they strive to succeed in a competitive space. Grant Coleman Grant Coleman, VP and Market Lead, UK, Nordics and Benelux at EmarsysRELEVANT COMMUNICATIONS Consumers are demanding relevant communications from their favourite brands. Our research revealed that 61% of consumers want offers or recommendations from brands they regularly use to be tailored to them and their interests. The equation is simple: personally relevant, value-added, individualised interactions lead to better customer experiences and retention. Yet, brands current marketing strategies to deliver this are missing the mark. Only 6% of consumers believe the product and relevant to them. That makes depressing reading for marketers around the world trying desperately to build that one-on-one connection with an ever-more demanding customer base. If consumers received irrelevant marketing materials from a brand: 84% would ignore and delete them 61% would think twice about purchasing from them in future 66% would ignore all future marketing communications from the brand 40% would not purchase from that brand againBut this must not be mistaken for a mild inconvenience or a necessary evil. Far from it there are very real and serious consequences. Our research demonstrates the likely impact on the bottom line for those that get it wrong. Not only are these brands creating a disenfranchised customer base, turning them off to potentially lucrative marketing offers and promotions, but they are eroding trust and damaging vital long- term consumer relationships. Its not all doom and gloom though. Those that get it right can win big. Only a moderate increase in customer experience generates an average revenue increase of $823 million over three years for a company with $1 billion in annual revenues 1 . THE QUESTION IS How do you unlock this personalisation and, with it, the associated revenue increase? Consumers are more protective over their data than ever before - particularly breaches in recent years. This presents a huge headache for modern marketeers who want to deliver a personalised consumer experience. How can they hope to do so without the insight into those unique preferences they need to tailor to? The answer partly lies in having impeccable data governance which GDPR supports. Just 5% of consumers would be willing to share their browsing data with an online street retailers. 80% of consumers would not be willing to share their product or service preferences and needs with an online retailer 85% for high street retailers 82% organisations 82% for healthcare providers The fear and reservation over data is palpable 22% of consumers wouldnt be willing to share any personal information at all with an online retailer, and more than a quarter (26%) wouldnt be willing to share anything with a high street retailer. Businesses need to work hard to build trust with existing customers, using the data they can to delight. GDPR for instance, enables brands to build trust offering consumers reassurance around how their data is being collected, stored and used. TRUST & PRIVACYConsumers know the crucial role that technology plays in their interactions with organisations - 82% of consumers are aware of the use of AI in the shopping experience, but only a third are aware that AI can be used to be send them personalised offers advertisements. This apparent gap shows that consumers arent willing to share this data, as they dont understand that AI is only as good as the data it has to hand. Its up to businesses to demonstrate and where needed properly communicate how AI can help to deliver a seamless and secure customer experience through the responsible use of their data. Consistently delivering on the customer experience will build trust and ultimately convince Marketeers up and down the country are being squeezed. 52% of marketers with customer experience responsibility expect their budgets to remain the same or decrease in 2018 2 . Despite this majority, expectations on the importance of a good customer experience are rising. Organisations need to work smartly and look at new ways to direct their existing budgets. Brands need to make sure that theyre getting the basics right, while working with the senior leadership team to demonstrate value. Retention and conversion for consumer- facing businesses begins with customer loyalty, and personalisation underpins this. Theres a huge opportunity for those that get it right, but few are realising this. 86% of consumers will pay more for a better brand experience, but only 1% feel that brands consistently meet their expectations 3 . And our research demonstrates how the customer experience will unlock new revenue and loyalty through retention and conversion. 56% if they received more loyalty-based discounts 45% if they received bespoke discounts based on their past purchases 41% if they received personalised offers which are unique to them 39% if they received exclusive access to products or services ahead of general sale When asked what would make them more likely to repeat purchase from a brand, consumers responded: UNLOCKING NEW REVENUEThis gap between opportunity and delivery exists because all too many are focussed on human personalisation, which doesnt scale to the necessary level. Theres just too much volume literally too much big data for any human to handle. Let alone an overstretched marketing team facing tightening purse strings. In todays world of information overload, this can be achieved with a helping hand from technology and this is where AI comes to the rescue. It allows the marketing department to deliver on the promise of marketing by taking on the burden of analysis and multichannel marketing execution, at scale. Consumers have told us that they will take their money elsewhere if they are not delighted by the brands they take the time to interact with. By using technology to individualise the marketing communications that consumers receive, brands can help cultivate greater loyalty. Only AI can provision truly bespoke offers because it is able to truly understand all consumer preferences when they interact with a brand, at scale and in real time. Theres just too much volume literally too much big data for any human to handle. By 2020, consumer experience will overtake price and product as the key brand differentiator 4 . But were already seeing this shifting focus impact on the bottom line. For example, brands that are leaders in customer experience outperformed laggards on the S&P 500 index by nearly 80%, in an eight-year stock price study 5 . Their customers were seven times more likely to make more purchases, and a staggering eight times more likely to try other products or services. 47% Are happy with intelligent technology determining which products or services match their preferences instead of a human. 43% Are happy for that technology to determining what discount they will receive on a certain product. 44% Are happy for it to determine the marketing materials they receive, provided that it improves their shopping experience as a consumer. Moreover, consumers are increasingly accepting of AI. READY FOR AIAnd thats the key. Consumers are happy with the use of technology if it can deliver on their desire for a personalised or individualised experience. Brands need to get ahead of the curve by using available data and technology to deliver on the promise of marketing. The current tactics for providing product recommendations, for example, arent working. 40% of consumers admitted to regularly checking the products you might be interested in section on websites, while consumers continue to be put off by website-based advertising, with only 11% wishing to receive new product and service offers via pop-ups and banner ads. There are many popular and disparate channels consumers use to engage with brands and each other. As a data source, this is hugely valuable and important in delivering a consistent omnichannel customer experience, which is why AI is the only way to maintain truly individualised consumer engagement at scale. Bu t despite this array of choice, when it comes to marketing, our research shows that consumers still prefer to receive new pro duct and service offers by: email (60%) through the post (22%) via social media (19%) In a consumer world teeming with unstructured data, AI is the most effective tool to ensure that brands continue to delight at every turn, deliver on the customer experience expectations and consumer loyalty. Personalisation in itself isnt new, but whats clear from this research is that marketers current, human-driven approach simply doesnt scale. In fact, it is proving a major turn-off for consumers and irrevocably damaging brands relationships with their customers. By using AI to better shape and deliver on consumers marketing experiences and provide unique, individual 1-2-1 engagement across multiple channels, marketers can enhance consumers purchasing journeys, increase brand loyalty, and ultimately boost their own revenue. Moreover, they can concentrate on developing the creative content which helps differentiate their brand, and let AI take care of the rest. Brands that harness the data and technologies available will not only provide consumers with far more individual interactions, but also ensure that the products and services they buy are exactly what they want and need. In todays competitive climate, there is no better way to encourage repeat purchases than partnering this journey with a unique brand and marketing experience. As this study shows, consumers arent generally fussed about how they are marketed to. Ultimately, they want a shopping experience which provides value, both in the product or service purchased, and the act of purchasing itself. AI is the means to that end. If consumers are ready for AI, marketers need help to mature their foundational marketing technology stack. Quicker and more effective implementation of the basics then put them in a great position to adopt the more advanced technology (AI being just one) that will deliver the experience consumers crave and brands want to offer. Ohad Hecht Ohad Hecht, CEO at Emarsys CONCLUSIONThis research of 2,002 UK consumers was conducted by Opinion Matters on behalf of Emarsys in August 2018. Opinion Matters abide by and employ members of the Market Research Society which is based on the ESOMAR principles.1. temkingroup/product/tech- vendor-nps-benchmark-2018-b2b/ 2. gartner/ the-gartner-customer-experience-survey/ 3. oracle/us/products/ applications/cust-exp-impact-report- epss-1560493.pdf 4. walkerinfo/knowledge- center/featured-research-reports/ customers2020-1 5. qualtrics/lp/total- economic-impact-of-qualtrics/ For more information on how AI can help you with marketing visit : emarsys ABOUT THE STUDY FOOTNOTES
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