- According to the survey, 88% of respondents believe gathering first-party data is more crucial for organizations now than it was two years ago, and 41% believe that over the past 18 months, collecting sufficient consumer preference data to produce compelling CX has been of utmost importance.
- The survey investigated changes in consumer and marketing decision-maker expectations on CX, martech, budgets and consumer data privacy.
While the global pandemic’s impact is lessening, marketers spanning all industries continue to face economic instability and the pressing need to develop novel approaches to reach and understand their target audiences while abiding with more stringent digital privacy regulations.
The demand for a great customer experience (CX) with every brand engagement is non-negotiable, even while marketing budgets are being cut. Marketers must use the adaptability they’ve developed in recent years to meet the rising demands of consumers in these unsettling times. They must also make sure that their marketing strategy is supported by three key pillars: a first-party data strategy, personalized content with compelling storytelling and brand consistency and composable technology.
Acquia collaborated with Vanson Bourne to interview 200 marketers and 2,000 customers in the UK and the US in August 2022 to get their perspectives on these pillars. The survey investigated changes in consumer and marketing decision-maker expectations about customer experience, martech, budgets and consumer data privacy.
It was discovered that businesses having direct, high-quality relationships with their clients had an advantage. First-party data, which includes digital interactions, contact information, details on product preferences, and purchase history, must be gathered, organized, understood and protected by marketers.
In addition, Acquia’s analysis revealed that as web browsers get ready to phase out third-party cookies, marketers are developing first-party data strategies to produce insights for targeted content and an engaging CX. This indicates that marketers are likely to follow big tech. According to the survey, 88% of respondents believe gathering first-party data is more crucial for organizations now than it was two years ago, and 41% believe that over the past 18 months, gathering sufficient consumer preference data to produce compelling consumer preference CXs has been of utmost importance. Furthermore, 35% “strongly agree” that their company is “fully prepared for the cookieless future.”
When asked about how their organizations are getting ready for the upcoming economic conditions over the next 12 months –
- 58% of respondents said – by improving customer service to manage and maximize customer retention
- 58% of them plan to do so by adopting new marketing technology
- 56% of participants responded by saying they’ll improve customer experience
- 43% of them selected the option of adding more channels and partners to reach the target audience
- 42% of respondents chose to focus on the acquisition of new customers
- Another 42% of them plan to change their messaging or reframe their brand story
- 36% of them said by offering further discounts