Study: Strategies for Cross-Channel Business Success

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Study: Strategies for Cross-Channel Business Success

Mon, 10/23/2017 - 14:18
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Study offers insights into why firms struggle to harness data for enhanced customer experiences:

  • Only 26% of businesses surveyed are able to use data to improve customer experience for all or most of their customers’ interactions.
  • Nearly two-thirds of surveyed organizations have difficulty recognizing customers across digital channels.
  • Almost all firms recognize the importance of tracking on customer engagement and that technology is key to making it work.

Celebrus, the leading provider of real-time enterprise Customer Data Platform (CDP) technology, has revealed the findings of its research into cross-channel customer tracking in the US and Europe. The October 2017-commissioned study, conducted by Forrester Consulting on behalf of Celebrus, identifies that despite 90% of surveyed firms saying that tracking customers is good for business, almost two-thirds are struggling to recognize customers across their digital touchpoints. The research also reveals that factors such as legacy organizational design, insufficient technology and the lack of a standard model for understanding cross-channel customers are key reasons why enterprises are failing to understand the customer experience across their digital estate.

Additional highlights emerging from the research include:

  • Although almost all respondents recognize the importance of data in improving how they interact with customers, most also report that they are unable to do this consistently. Indeed, both US and European businesses suffer from organizational and technology limitations when tracking visitors.
  • Firms report having a strategy to enhance customer experiences but, for more than half, that strategy is limited to a subset of their channels; this makes it harder to deliver a consistent, high-quality customer experience across all interactions.
  • Too many businesses are relying on legacy customer data repositories like CRM (41%) and web analytics (50%) to understand customer interactions. However, emerging technologies, like customer profile management (40%) and customer data platforms (33%), are growing in importance because they allow firms to combine data from across digital channels like mobile and social.

Matthew Tod, Chief Data Officer at Celebrus, identified that “to fulfil their potential, businesses must accelerate their efforts to embrace a complete picture of customer behaviour and experience across all their digital channels. This has become increasingly important in the light of increasing global competition and the challenge of growing privacy legislation.” He added: “Celebrus is enabling clients to review their data collection strategy so that it covers all channels, is compliant with local legislation like GDPR and can scale as their business grows. This delivers the platform to transform captured data into real-time insight that can be put into action for better customer experiences.”

The study surveyed companies in the US, UK, France and Germany with annual revenues of more than $500 million; focus industry sectors were retail, banking, insurance, consumer packaged goods (CPG) and telecommunications. The full study, “Accelerate Business Success by Tracking Customers Across Channels,” is available to download now at www.celebrus.com.