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Companies Struggling in Executing Customer Experience Strategies – study shows

According to a joint SAS and CMO Council study, the majority of businesses’ CX strategies have evolved as a result of the digitized customer journey.

Only 40% of marketing professionals in EMEA have a high level of confidence in the ability of their company’s existing Customer Experience (CX) strategy to attract and keep customers.

More work needs to be done to digitize the customer journey given that high-quality items and cost are two of the most significant factors in consumer loyalty.

This is supported by research from a global Consumer Experience survey carried out by SAS, one of the top suppliers of analytics and artificial intelligence (AI) solutions worldwide, in collaboration with the CMO Council.

The challenge is to orchestrate a great customer experience that hits all the right notes: from digital self-service to meaningful personalization, privacy, and trust, as well as a seamless Omni channel, including a ‘hybrid’ blend of physical and digital experiences. Consumers want a frictionless, rewarding experience when buying great products at affordable prices despite volatile geopolitical and macroeconomic trends.

For EMEA businesses, the majority are working on accommodating existing digital and physical engagement models (87%), balancing personalization and privacy (87%), adjusting to supply chain issues (81%), reacting to customers in real-time with personalized interactions (73%), and managing the frequency and volume of customer interactions (70%).

The biggest problem with implementing the CX strategy still is coordination between departments. Just 11% of EMEA marketing executives believe their company is well positioned in this area, while just as few study participants (11%) attribute sufficient maturity to their company when it comes to executing Consumer Experience measures against the backdrop of a completely transformed digital infrastructure.

The least amount of mature evaluations were given to utilizing augmented, virtual, extended, or mixed reality out of all 13 CX capabilities.

According to almost two-thirds of the poll respondents in each case, marketing analytics, AI, and machine learning are the technologies that are most heavily invested in.

According to 55% of respondents in EMEA, marketing attribution and technology for measuring success play a significant influence.

Respondents from across EMEA stated that they intend to use contextual targeting (44%) and ad experimentation and testing (44%) to track and target customers with programmatic advertising while third-party cookies are on the decline. It’s interesting to note that 79% of marketing executives in EMEA think that in the upcoming 12 months, a hybrid CX position that blends physical and digital experiences would be crucial.

Many believe that this promotes customer engagement, innovation, and personalization. On top of a completely revamped digital infrastructure, which offers a 360-degree perspective of the customer and their relationship with the business, it is much simpler to give a hybrid consumer experience.

More than 1 in 7 marketers claim to have a developed digital infrastructure, despite this. Good news! Brands are actively pursuing this.

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