It’s no secret that the best customers are the ones who engage with brands across multiple channels. It’s not surprising, therefore, that the brands who deliver value to customers across channels see strong growth.
How much growth?
- Companies with strong cross channel customer engagement see a 9.5% year-over-year increase in annual revenue.
- Cross channel customers who shop on more than one channel have a 30% higher lifetime value score than those who shop on only one.
Then add in the fact that, according to Forrester, cross channel retail sales in the US alone will be nearly $2 trillion by 2018—and you can see why delivering a strong cross channel experience is paramount for success.
Ok so far so good, right? You're with me, yes? At least you should be for if any of the above is surprising to you, well… let's just say it should come as no surprise. Consumers, buyers, shoppers — whatever you want to call them, use more than one channel, offline and on, as they move along their merry path to purchase.
But what about integration when it comes to within all the various digital channels? How are senior marketers doing when it comes to this?
Well if the result below, courtesy of research firm Millward Brown, not too well.
As you can see, within digital channels such as mobile and social, one-third are "not all integrated."
So the question that begs to be asked is why? Why are so many marketers, and we can more likely roll part of that 42% into the mix, too — not integrated within and across digital channels, the same channels that pretty much the entire world uses on a daily basis?
In a word: technology.
The technology these 33% (and more) of CMOs and marketers are using is simply not good enough.
The fact of the matter is the technology you use should provide, not some, but all of the following:
- Robust third-party data to help you know your customers across every channel.
- The ability to build a holistic customer view that incorporates preferences, behaviors, and personalization across devices and channels.
- A complete customer experience CX platform for both B2B and B2C companies, allowing you to manage your customer experience at every touchpoint.
Of course there are no shortage of marketing platforms and technologies out there. The last count, as per Scott Brinker, has it over 3,800 martech solutions currently on the market. If only there were some kind of guide to help CMOs wade through all the noise.
Oh wait, there is: The CMO Solution Guide to Leveraging New Technology and Marketing Platforms. Download it – now.