Putting The Customer First Equals More Revenue
Today's online experience is rapidly evolving. Think about the websites you visit - the companies you follow on social media who engage with you - the personalized emails you receive with information that you are interested in. What do they all have in common? A personalized experience that earns your trust and keeps you wanting more.
According to Sitecore, even though it is known that companies who are actively prioritizing the customer experience have THREE times higher annual revenue compared to those who do not, 67% of companies are only scratching the surface when it comes to online personalization.
Yes, this 67% of companies have a website and 'blast' out an email on a monthly basis to all of their 'customers' but they are making no effort to identify what each type of customer's (see Buyer Persona or Marketing Category) preferred method of communication is, nor taking the time to learn what their customers are really interested in.
Only 18% of companies are segmenting their customers into various Buyers or Categories and are engaging with customers through various channels like social media. These companies who are committed to the digital age are providing the customers (and future customers) choices as to how they want to enage online with brands of their choice.
As the digital age continues to move at a most rapid pace, businesses who neglect to evolve with their customers expectations over the next few years certainly won't be market leaders. Customer data and insights are paramount in order to compete in every single industry.