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Brands Don’t Know Customers, Study Finds: What Brands Don’t Know Hurts Them

The perception gap between how effective businesses think their marketing strategies are and the customer’s IBM-logo1experience is wide, with 80 percent of consumers saying the average brand doesn’t understand them as an individual.

IBM today announced results of the IBM and Econsultancy study, “Listening to the Customer: 7 New Research Findings,” which discovered deep divides between consumers and companies. The gap between the two results in costly loss of revenue for shopping websites and service providers, among others.

Successful marketers will combine the online and offline presence of the company, creating a continuous, exceptional experience. Investing in marketing innovations, IBM Commerce general manager Deepak Advani said, will give teams the ability to gain insight to demographic and experience information vital for personalizing consumers’ experiences and retaining business.

“The fundamental thinking behind digital marketing has shifted. The goal of providing the right message to the right person at the right time is now just a part of the larger puzzle. The real challenge is providing the right experience for the right person at a time that’s right for them,” said Stefan Tornquist, Vice President Research for the Americas at Econsultancy. “At the center of it all is the marriage of marketing and technology and a commitment to innovation that’s driven by individual customer needs.”

Two parallel online surveys including marketers from more than 275 consumer companies and 1,135 consumers, respectively, contributed to the development of the report, available in full here.



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Sunday, 19 January 2020