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JC: Most of the topics echo what we’re seeing across a spectrum of industries; innovative brands are investing in their strategy and technology to deliver relevant, valuable experiences that reflect the preferences, likes, wants and needs of individual customers. While leaders in most industries are already leading the charge, we’re starting to see their competitors trying to catchup with marketing platforms that help them identify and understand customers and strategies that help them influence and motivate them with tailored experiences personalized to their behaviors. So the topics in this report aren’t surprising, but we’re seeing an increased focus on them by more and more brands.
Q: What type of companies do you see leading the charge with this level of customer experience?
JC: The brands who are embracing the marketing platform technology and advanced customer strategies to deliver these types of exceptional experiences tend to be very customer-centric in their approach and are focused on earning genuine loyalty from their customers by delivering valuable experiences throughout the customer’s cross-channel engagements. They’re looking way beyond the ‘one-size-fits,’ transaction-based discounts that drive so many of the “loyalty programs” we see in the market today. These brands often have a much different philosophy and objective with their customers.
Q: What’s the biggest challenge these companies face when building these customer strategies?
JC: Obviously, it varies for every company, but a lot of times the challenge lies in getting the entire organization on the same page. The foundation of a strategy like this is built on customer data from across the organization — from the ecommerce platform, point-of-sale networks, social accounts, mobile app and more. The challenge is that these fragmented systems across marketing technology stack are often owned by fragmented departments, so getting agreement on the strategy is daunting for some brands. However, those companies that can get consensus on their customer-centric focus and corresponding strategy gain major competitive advantages in the market.
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