MARKETING INDUSTRY NEWS ARCHIVE
The Marketing Factbook provides you with unbiased research, analysis, hard data, know-how and consulting services in the whole range of marketing disciplines including the Customer Experience, Customer Loyalty, Knowing The Customer, Marketing Know-How, Marketing Technologies, and more.
Select any of the archive months below, then click on any article to read it...
- Archive for May 2022
Most successful businesses focus on the Total Experience ... But only 60% have a cohesive customer interaction strategy - The most successful businesses are the ones that recognize the fact that customer-centricity involves an interconnection between Customer, Employee, User, and Multi-experience, according to an online market research survey conducted for Avaya by IDG Communications. While companies often develop... (Wednesday 11th May 2022), by reporter Peter Clark
Only 40% of companies think they're good at personalisation ... Can technology help us respond better to customer needs? - Organizations that create truly personalized experiences for their customers are more likely to be successful, according to research from NTT DATA and Oxford Economics. Yet despite this finding, very few of the executives surveyed said they are prioritizing personalized digital experiences, or... (Tuesday 3rd May 2022), by reporter Peter Clark
- Archive for April 2022
Credit card rewards to exceed US$108bn globally by 2026 ... Growth will come from an increase in co-branded cards - The value of global consumer credit card rewards will exceed US$108 billion by 2026, rising from US$92 billion in 2022. This 15% growth will be driven by an increase in adoption of co-branded credit cards by retailers to boost repeat user engagement, according to a study from Juniper Research... (Monday 25th April 2022), by reporter Peter Clark
Consumers are making brands earn their loyalty again ... Is the definition of loyalty changing in the consumer's mind? - Amid ever-rising consumer expectations, supply chain disruptions, and less access to third-party data, brands are having to work ever-harder to earn loyalty that drives positive business outcomes, according to the annual 'State of Brand Loyalty' survey from Yotpo. Nearly 40% of global shoppers... (Tuesday 19th April 2022), by reporter Peter Clark
Delivery and returns are critical to keeping customers loyal ... 2 In 5 consumers switch online brands as loyalty fails - Two in five consumers have changed the brands or retailers they shop with since the onset of the pandemic, as they continue to expect more from the online experience, according to a study by parcel delivery management firm nShift. The study found that simply developing a functioning e-commerce... (Monday 11th April 2022), by reporter Peter Clark
Enterprises prioritise CX in today's digital-first economy ... Most say 'outstanding CX' is now an important goal - Digital disruption and the pandemic both accelerated the need for digital transformation. As businesses become more digital, they quickly learn that CX is a necessary differentiator. In line with that, 88% said that delivering an outstanding CX is an important goal, but slightly more (90%) are... (Tuesday 5th April 2022), by reporter Peter Clark
- Archive for March 2022
Consumers turning to 'buy now pay later' schemes ... Not much time left for banks to compete for business - Millions of consumers around the world are increasingly using 'Buy Now Pay Later' (BNPL) services, rather than using traditional means such as credit cards, to help them manage the expense of their online and in-store purchases while maintaining their household cash flow, according to a report... (Monday 28th March 2022), by reporter Peter Clark
Retailers still looking for data acquisition tools ... They just can't analyse data fast enough, either - More than 40% of retail and e-commerce organisations have struggled to find the most efficient tools or tech stack for data acquisition over the past 12 months to help them rapidly analyse data in real-time resulting in actionable business insights, according to a study by Oxylabs. Some 39% of... (Tuesday 22nd March 2022), by reporter Peter Clark
Most customers says returns should be a priority for e-retailers ... 4 In 5 will write off a retailer after problems with returns - Almost all consumers (89%) identify 'ease of returns' as top priority when purchasing online, according to data from delivery experience platform provider Sorted, which found that retailers who get the returns process right will reap the most consumer loyalty. The survey, consisting of 2,000 UK... (Wednesday 16th March 2022), by reporter Peter Clark
Most consumers feel customer service is an afterthought ... Report highlights CX as imperative for future growth - Zendesk's landmark annual research has highlighted the potential for businesses to drive success with a focus on customer experiences, as more than two thirds of consumers worldwide (70%) report making purchase decisions based on the quality of customer service they receive. The <i>Customer... (Wednesday 9th March 2022), by reporter Peter Clark
When it comes to Googling products, Bricks beat Clicks ... Retailers with physical presence dominate search results - Traditional big box retailers and department store brands with brick-and-mortar locations dominate the list of top ten eCommerce websites with the biggest gains in Google.com search performance in 2021. While apple.com enjoyed the biggest absolute boost in search visibility during 2021... (Tuesday 1st March 2022), by reporter Peter Clark
- Archive for February 2022
Marketers set to drive deeper customer engagement ... More of us are aligning strategy, teams and technology - Taking lessons from the pandemic, companies have an opportunity to reset and reimagine their event programs to better align them to marketing outcomes, according to a report from the CMO Council. Because of the extensive digital transformation across the meetings and events industry spurred by... (Wednesday 23rd February 2022), by reporter Peter Clark
Half of service agents admit to botching customer service calls ... And outdated technologies are causing customer frustration - More than half of customer service agents say they botch how they record customer requests during service calls, with nearly 40% admitting they regularly fail to understand their customers' needs because they get distracted, according to research from Pegasystems. The global study, conducted by... (Tuesday 15th February 2022), by reporter Peter Clark
Retailers adopt Contact Centre-as-a-Service to improve CX ... Deeper visibility helps drive greater efficiencies - The rising purchasing power of younger consumers and the proliferation of channels make it critical for retailers to innovate their customer engagement strategies and, as digital experiences become increasingly personalized, retailers need to have a holistic view of the customer to ensure... (Wednesday 9th February 2022), by reporter Peter Clark
Digital Transformation can boost the Customer Experience ... Most say so, yet they're lagging 5 months behind the leaders - There is a growing international consensus among business and IT decision makers that digital transformation efforts are critical initiatives, and yet IT teams are not being given the necessary resources and budgets and - as a result - many are running as much as two quarters behind schedule... (Thursday 3rd February 2022), by reporter Peter Clark
- Archive for January 2022
Online marketplaces are at the start of most digital purchases ... But 69% have been put off by poor product descriptions - Consistent product experiences are vital in driving purchases, according to research from Inriver, exploring online shopping behaviours and preferences. The research report, entitled "Inside the mind of an online shopper", was based on a survey of 6,000 consumers across the US, UK and Germany... (Monday 31st January 2022), by reporter Peter Clark
Brands turn to contact centres to meet customer expectations ... Many are already embracing AI, chatbots, and social media - Consumers have raised their service expectations during the COVID-19 pandemic, and many enterprises are turning to contact center providers to keep customers coming back, according to a report from technology research and advisory firm Information Services Group (ISG). The report, entitled "2021... (Thursday 27th January 2022), by reporter Peter Clark
Online Sales to account for 40% of all Chain Retail by 2026 ... Almost 60% of retailers now offer two-hour delivery option - Shoppers say they will continue to buy online post-pandemic, and to a greater extent than before the pandemic began, with future online sales being expected to account for almost 40% of all chain retail sales by 2026, according to the annual 'Future Retail Disruption Report' for 2021-2022 from... (Monday 24th January 2022), by reporter Peter Clark
Airline miles rewards drive credit card customer satisfaction ... American Express, Capital One and Discover ranked highest - In one of the clearest signs yet that businesses in America are ready to get back to normal, airline rewards once again have become one of the top drivers of small business credit card customer satisfaction, according to the J.D. Power '2021 US. Small Business Credit Card Satisfaction Study... (Wednesday 19th January 2022), by reporter Peter Clark
6 Ways to super-charge B2B customer experiences ... Current events are influencing the B2B buying process - The customer experience gap between this year's winning and losing B2B brand has narrowed significantly, according to a global study from Merkle B2B which shows how the past 12 months have shaped B2B buyer preferences and brand experiences. "A year ago today, the world was in a very different... (Monday 17th January 2022), by reporter Peter Clark
Consumers increasingly selective with the data they share ... Brands are expected to provide personalised data controls - Increasing data privacy regulations and changes from Apple and Android give consumers greater transparency and control over the personal information they share with brands, which predictably is resulting in the demise of third-party data. To help companies transition to direct customer... (Thursday 13th January 2022), by reporter Peter Clark
Customer Experience is key digital transformation driver ... Nine out of ten insurance leaders in Europe agreed - Demand for improved customer experience is the top driver of digital transformation in Europe's insurance industry, but with growing digitalization, insurers report increasing security vulnerabilities, according to the second annual 'ISG Pulse of the Insurance Industry' survey, conducted by... (Monday 10th January 2022), by reporter Peter Clark
Loyalty increasingly comes from good customer service ... Brands have new opportunities for relationship-building - Customer loyalty is being disrupted as consumers rethink their relationships with companies. Although loyalty today is primarily driven by companies' ability to resolve customer issues on first contact, it will increasingly be shaped by how effectively customer service represents the company in... (Wednesday 5th January 2022), by reporter Peter Clark
- Archive for December 2021
Brits to go online despite retail re-opening ... Holiday shoppers prefer delivery or click+collect - Half of UK shoppers said they would do most of their holiday season's shopping online either for delivery or for click-and-collect, compared to just over one-fifth (21%) who were expecting to mostly shop in-store, according to a survey of 1,000 UK consumers by customer connections firm Quadient... (Wednesday 29th December 2021), by reporter Peter Clark
Reichheld expounds 'Unbeatable Strategy of Loving Customers' ... New book from the creator of the Net Promoter Score - The world's 'winning companies' - those that truly make the world a better place - deliver 2-3 times the average stock market returns and offer fulfilling work for their employees-often have one thing in common: they put their customers first, ahead of all other stakeholders, according to Fred... (Thursday 23rd December 2021), by reporter Peter Clark
Aeroplan partners with Oman Air and Air Mauritius ... That's ten new partners in only 18 months - Oman Air and Air Mauritius have signed up to join the Aeroplan loyalty programme's growing roster of more than 40 airline travel partners. The new partnerships expand Aeroplan's coverage in the region and gives members access to additional premium air products. Members can earn Aeroplan points... (Monday 20th December 2021), by reporter Peter Clark
Consumers want to help improve companies' CX ... But they don't believe the brands are listening - While a positive Customer Experience with brands is a primary driver in consumer buying decisions, CX over the past year did not improve or has become even worse, according to The Alida '2021 Global Trends Report: Customer Experience'. However, customers said they are willing to help companies... (Thursday 16th December 2021), by reporter Peter Clark
Customer Experience is pivotal to business results ... CX leaders outperform CX laggards by ratio of 3-to-1 - There are significant pay-offs - as well as penalties - associated with Customer Experience quality in today's marketplace, with widely loved brands with strong consumer feedback ratings enjoying an average shareholder return that was nearly 110 points higher than the market index, while widely... (Monday 13th December 2021), by reporter Peter Clark
Conversational AI can help build customer loyalty ... 80% Would talk to a machine to avoid hold-time - Poor customer service is looking pervasive these days, according to a survey from AI-enabled customer contact center provider Replicant, which found that 91% of consumers had experienced poor customer service in the past six months, and one in three saying customer service is worse than before... (Thursday 9th December 2021), by reporter Peter Clark
Most consumers spend more on brands they trust ... Trust is the new key to customer acquisition - For many consumers, trust is the deciding factor when it comes to separating a business from its competition, according to a study from Deloitte Digital and cloud communications firm Twilio, which explored the divergent perceptions of trust between consumers and business leaders in the United... (Monday 6th December 2021), by reporter Peter Clark
Generation Z loves credit perks but is wary of debt ... Most want cash back perks despite fear of debt - While the majority of Generation Z consumers are keen on credit card rewards (86% want cash back, 84% want rewards that don't expire, and 83% want bonus rewards in certain spending categories) a surprising 78% also admitted they are afraid of assuming debt. Additional findings from the study... (Wednesday 1st December 2021), by reporter Peter Clark
- Archive for November 2021
CX management market worth US$16.9bn by 2026 ... Up from $9.5bn in 2021? Why, that's a CAGR of 12.3% - The global Customer Experience Management (CEM) market size is expected to grow from US$9.5 billion in 2021 to US$16.9 billion by 2026 (at a Compound Annual Growth Rate of 12.3% during the forecast period), according to the 'Customer Experience Management Market with COVID-19 Impact' report... (Monday 29th November 2021), by reporter Peter Clark
43% Of consumers are loyal to a food & beverage brand ... And 57% trust products with recognisable brand names - Almost half (43%) of consumers in the US are loyal to at least one food and beverage brand, according to a survey from Visual Objects, which provides a visual guide to finding and hiring creative firms. The company surveyed 501 consumers about brand loyalty and branding's impact on their... (Wednesday 24th November 2021), by reporter Peter Clark
Poor CX puts US$1.9 trillion in consumer spending at risk ... Half of consumers cut their spending after a bad experience - US businesses risk losing an incredible US$1.9 trillion in consumer spending due to poor service experiences, according to research from Qualtrics and the XM Institute, with about one in five consumers saying they have a bad interaction with an organization every 90 days, and with internet... (Monday 22nd November 2021), by reporter Peter Clark
Marketers' priorities don't match consumer expectations ... Several channels are being missed in the 'great overhaul' - Traditional marketing channels, including word of mouth, direct mail, and in-store signage, remain largely untapped by today's marketers, most of whom seem to be focused excessively on digital channels, according to a study by marketing and business communications firm R. R. Donnelley & Sons... (Thursday 18th November 2021), by reporter Peter Clark
Study identifies vital keys to digital transformation ... Facts to aid enterprise resiliency and spending - The IDC 'Future Enterprise Resiliency and Spending' survey has cast new light on several key areas of digital transformation, asking respondents to identify their company's digital resiliency investment plans, as well as the challenges and benefits of those initiatives. According to the survey... (Monday 15th November 2021), by reporter Peter Clark
You've got 10 minutes to establish online customer trust ... And the French are leading the way - The survey explored Internet users' relationship to digital services and digital identity and revealed that businesses have just 10 minutes to set up digital accounts or risk losing consumer trust, according to a research paper from identity verification company Onfido and independent identity... (Wednesday 10th November 2021), by reporter Peter Clark
Half of consumers are happy with digital payments ... And it's all thanks to the Covid-19 pandemic - Digital payment services and financial technology partnerships are reshaping the way in which consumers around the world send, spend and store their money, according to a research paper from 451 Research (part of S&P Global Market Intelligence), commissioned by Discover Global Network. The... (Monday 8th November 2021), by reporter Peter Clark
Many retailers confident of growth next year ... But they're still worried about the pandemic's effects - More than one third of retailers feel confident in their business' ability to grow within the next year, but recovery from the pandemic still remains a concern, according to the 'State of Retail in a Post Pandemic Era' report from RFID specialist SML RFID. The first of a two-part series, The... (Friday 5th November 2021), by reporter Peter Clark
Project Venkman puts Blockchain and NFTs into Loyalty ... I ain't 'fraid of no buzzword... - Venkman's going to change the world, but this isn't Ghostbusters... it's actually a startup co-founded by executives of theCHIVE. Project Venkman, as it's known, is an e-commerce engagement solutions platform created to help brands rethink how they can evolve their existing loyalty points models... (Thursday 4th November 2021), by reporter Peter Clark
Consumers say Customer Service is 'trying too hard' ... But it's not trying hard enough where it really matters - More than half (54%) of consumers want a company to solve their issues at first interaction, yet only one-third of businesses prioritize first-contact resolution. Instead, businesses have been prioritizing professionalism and friendliness (48%) in customer service interactions, and being quick... (Monday 1st November 2021), by reporter Peter Clark
- Archive for October 2021
1 In 4 Indian brands' Customer Experience declined in 2021 ... Emotionally positive experiences proved best - Only four out of 29 brands managed to significantly improve their CX scores, according to Forrester's 2021 India Customer Experience Index (CX Index'). HDFC Bank experienced the highest increase of any brand across all industries and was the only brand to rank in the excellent category. Auto... (Wednesday 27th October 2021), by reporter Peter Clark
Most retailers still don't live up to shoppers' expectations ... So how are they responding to ramped-up e-commerce? - According to the latest insights from ecommerce technology company Bold Commerce, 58% of leading retailers admit that they're not living up to consumers' expectations when it comes to bringing together digital and physical experiences. The company's report, <i>Retail eCommerce In Context: The... (Monday 25th October 2021), by reporter Peter Clark
Most consumers will defect after repeated miscommunications ... Consumers are having to chase their deliveries far too often - Research from delivery experience technology platform Sorted has found that 75% of consumers would stop using a retailer if they frequently messed up communication updates regarding their delivery. With customer expectations higher than ever, UK retailers have reached a critical point with the... (Thursday 21st October 2021), by reporter Peter Clark
Retail industry most targeted by malicious emails ... 2m malicious emails bypassed email defences in 1 year - Some two million malicious emails bypassed traditional email defences, such as secure email gateways, between July 2020 and July 2021, according to a report from Human Layer Security company Tessian. These emails were flagged by inbound email security tool Tessian Defender as malicious and... (Monday 18th October 2021), by reporter Peter Clark
Consumers are no longer in the 'panic purchase' mindset ... Study notes shifts away from pre-pandemic behaviour - Sensibill, a customer data platform for the financial services industry, has published its Barcode Report on consumer spending related to panic-purchases (such as toilet paper and masks), using its customer spending data, and including SKU-level data and transactions, to help uncover new... (Thursday 14th October 2021), by reporter Peter Clark
Amazon and Lendistry launch Amazon Community Lending pilot ... Helping sellers with stock, brand building and customer acquisition - Amazon and Lendistry have announced a joint pilot program called 'Amazon Community Lending' aimed at driving growth opportunities for small and medium-sized businesses (SMBs) selling in Amazon's store. The program is a new business financing option through Amazon Lending. Amazon Community... (Monday 11th October 2021), by reporter Peter Clark
Fetch Rewards partners with Burger King, Panera & Papa John's ... Aiming to satisfy consumer demand for more dining rewards - Loyalty app provider Fetch Rewards has signed partnerships with Burger King, Panera and Papa John's as it expands the app's reward offerings into the restaurant category. The strategic move into restaurants -- and the decision to partner with these three leading national restaurant brands --... (Wednesday 6th October 2021), by reporter Peter Clark
Choice Privileges offers new Fall bonuses ... Extra points for staying two or more nights - Choice Privileges, the loyalty program of Choice Hotels, is giving its members a chance to 'Stay More. Earn More' for their fall travel, hot on the heels of its 50 Million Member Sweepstakes. Up until 31st October 2021, Choice Privileges members who book and stay at participating Choice hotels... (Monday 4th October 2021), by reporter Peter Clark
- Archive for September 2021
Chase Ultimate Rewards adds Aeroplan for point transfers ... Aeroplan becomes Ultimate Rewards' 14th travel partner - Chase and Air Canada have teamed up to give credit cardholders with Chase Ultimate Rewards a new option to use their points, with the addition of Aeroplan as the latest Ultimate Rewards points-transfer partner. Eligible Chase cardmembers can now transfer Ultimate Rewards points to Aeroplan, and... (Thursday 30th September 2021), by reporter Peter Clark
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