In the fast-paced world of retail, providing customers with a seamless buying journey has become an imperative. However, this journey is often riddled with challenges that retail marketers must navigate. According to a 2022 Forrester Research survey commissioned by CSG, 90% of CX leaders admit they find it challenging to know where to start on improving customer journeys and experiences. Furthermore, 51% don't have a strategy because they find it difficult to understand and navigate, and 42% simply don't know where to start to improve customer journeys. These statistics underscore the complexity retail marketers face when attempting to develop a journey that keeps customers engaged, satisfied, and loyal.
One of the key elements in creating a seamless customer journey in today's retail landscape is personalization. According to a 2022 report by Deloitte Digital, 69% of consumers said they're more likely to purchase from a brand that personalizes experiences. But personalization isn't always a straightforward process. In the same study, more than half of the respondents noted that personalization often feels off-target and doesn't meet their needs, interests, or preferences. This highlights the critical need for a refined and data-driven approach to personalization.
Here's where data analytics steps into the spotlight. According to the Zendesk CX Trends Report 2023, 70% of consumers spend more with companies that offer fluid, personalized, and seamless customer experiences. Moreover, the 2023 State of the Connect Customer report by Salesforce reveals that 65% of customers expect companies to adapt to their changing needs and preferences. With insights derived from data analytics, retail marketers can determine the attributes and lifestyle characteristics, brand affinities, media preferences of their customers and much more. These insights enable marketers to precisely target their customers with content and offers that genuinely resonate with them through the channels that they actually use, ensuring that personalization feels right and meets their expectations.
Despite the demand for personalization, it's surprising to note that only 51% of marketing teams currently have employees dedicated to analytics, and only 48% have invested in technology dedicated to analytics, according to the Salesforce Marketing Intelligence Report. This underinvestment in data analytics is a missed opportunity to drive marketing-led growth and enhance the customer experience.
Although it is an underutilized resource among many marketing teams, customer analytics will only become increasingly more important when it comes to crafting and optimizing the customer buying experience. It ensures personalization is on target, addresses the evolving needs and preferences of customers, and helps businesses treat customers as individuals, not mere numbers. At Buxton, we understand the significance of data analytics in achieving this transformation. Our mission is to empower retail marketers to dive deeper, refine strategies, and shape memorable customer experiences.
So, what's the next step in your data-driven journey to optimize your customer buying experience?
Download our comprehensive guide that outlines how customer analytics enhances and informs each stage of the customer journey. Unleash the power of data and provide your customers with the experience they deserve. Let's embark on this journey together.
Click here to download the guide, "Unvealing the Customer Journey with Customer Analytics,"
With Buxton's expertise, you'll be well on your way to revolutionizing your retail marketing and ensuring an exceptional customer experience at every step of the journey.