Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business. You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy.

Get it on Amazon (Kindle/Print)

How to build your Customer Data Platform strategy

Report highlights marketers' ongoing CDP challenges

The time to talk about insights from data is long gone, and organizations must now look instead for actions that are driven by data insights. Mature countries such as Australia and Singapore point the way, the study concluded.

The study surveyed 250 decision-makers ranging from senior managers to C-level executives across Australia, Singapore, New Zealand, India and United Arab Emirates from the BFSI, Hospitality & Tourism, and Retail industries, and that examined marketers' priorities and challenges in enabling customer data platforms (CDPs) and the broader data value chain, and to understand the current approach, mindset, and existing data practices.

"We believe this insightful study clearly indicates that marketers in the region have embarked on a journey to leverage data intelligently to create personalized marketing campaigns that deliver results," said Ashish Sinha, Managing Director for APAC and MEA, Epsilon. "While CDPs emerge as the holy grail, it will be on a solid foundation of identity that allows brands to deliver relevant messages, while reducing waste, customer churn, and optimising return on marketing investment. When brands get identity right, it gives them a fighting chance to not only survive but thrive."

The study yielded three main findings:

1. Lack of data maturity hampers CDP success
   The study reveals that data management issues stifle the success of CDPs. Decision-makers whose organizations have implemented some version of a CDP, cited challenges with merging data into a single repository; keeping customer profiles up to date; and analyzing the data and finding actionable insights.
2. Firms plan to increase investment in CDPs
   35% of respondents said they are planning to invest/ increase their investment in CDPs in the next 12 months. The study highlighted three key factors that drive CDP adoption: Ability to create a single unified customer profile across channels and devices (83%); Ability to increase customer acquisition through more targeted ads (71%); and Ability to customise experiences, for both known and unknown customers (63%).
3. Elevate customer identity management practices to foster better business outcomes, with convenience
   When asked about customer identity management practices, half of decision-makers said that first-party data is mostly or significantly combined across online and offline sources and linked to customer records for sales and marketing teams to have a complete view of their customers. 70% of respondents believe that integration of online and offline data sources provides a differentiated customer experience.

According to Adrian Farouk, CEO, Epsilon ANZ, "This study highlights that deprecation of third-party cookies is necessitating brands to not only own their first-party data but to build an ecosystem whereby it is continually replenished, relevant and up-to-date. They need to discover the value of the data they own before supplementing it with external data to gain end-to-end view of the customer journey. The future will see brands being in better control of their destinies and enhancing trust with consumers."

Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business.

You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy. Grab this goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, technologies, research, suppliers and partners, plus all the supporting arguments you need to build a solid CX strategy.

While most marketers could list maybe a dozen key points for improving their brand's Customer Experience (CX), the researchers and writers at The Marketing Factbook have identified FORTY main 'CX Keys' which will help you drive your customers to new levels of delight, loyalty, advocacy and profitability.

The areas in which customers have direct contact with your organization are perhaps the most obvious places in which CX improvements can be made, and this report addresses all 24 of these 'Direct CX Keys', applicable to offline and online businesses alike.

At the same time there are many other areas that indirectly affect CX (such as the supply chain, policies and processes) in which every business can make simple but far-reaching improvements. This report guides you through the problems and solutions for all 16 of these 'Indirect CX Keys', many of which are often forgotten or under-played even in the best CX strategies.

Get it on Amazon (Kindle/Print)