From the Editor –
In today’s Customer Quick-Take – we’re back with a tighter, more focused curation of the critical customer engagement themes of the day. On today’s menu: What to consider when considering a retail tech upgrade, a gentle reminder of the value of good CX, CMOs are having some serious doubts, and you should probably be paying more attention to your DQL. Happy Thursday!
– Mike Giambattista, Editor in Chief
FEATURE: When to Upgrade Your Retail Technology
At some point in the past there was a significant investment in the stack componentry you’re now using, and those costs are very likely still being amortized out. And even if they’re paid down and fully depreciated how do you know operationally when a layer is nearing the end of its functional life? Read more here.
CX
Providing consistent, reliable customer service is also a major factor in customer retention. It’s so important that 68% of consumers will actually pay more for products and services from a company with good customer service. Conversely, 50% of consumers will switch to a competitor after just one bad customer experience.
Technology
In 2022 we learned that 67% of CMOs rely on their own employees to adapt legacy technology to get the value they need, and only 9% believe their tech strategy greatly enables their marketing performance. This opens the opportunity to adopt new technology that knows your customers and allows for your teams to focus on other marketing campaigns.
We also saw 96% of brand marketing leaders believe there is a gap in knowledge of their technology, while 90% believe there is a gap in resources holding them back from success.
Emerging Retail Trend(s)
The Re-emergence of Brick and Mortar: Brick and mortar stores, especially those that provide an accessible and engaging customer experience, will have seen a resurgence going into 2023. Brands have taken notice of the benefits that physical stores provide in terms of marketing their products and services, driving customer loyalty, and creating a valuable connection between product and people.
Your DQL is Slipping
The 2022 Digital Quality of Life Index (DQL) from Surfshark analyzes countries on digital wellbeing, based on data from the UN, World Bank, Freedom House, and the International Communications Union. Life and work in the 21st century is increasingly reliant on modern technology, with a country’s digital quality of life playing a massive role on people’s day-to-day. Israel Has The World’s Highest Digital Quality Of Life In 2022, USA Only 12th.
Didn’t see that coming
Neutrogena Is Launching Personalized, 3D-Printed Skin Supplements With Nourished
The brand is leveraging its existing Skin360 mobile app to bring forth a technology that will further address consumers’ unique skin needs: 3D-printed personalized supplements. Formulated in partnership with fast-growing personalized supplement company Nourished, the vegan, sugar-free gummies — called SkinStacks — combine Nourished’s 3D-printing machinery and Neutrogena’s digital skin assessment for a resulting seven-layer supplement “stack,” each layer containing a nutrient that caters to a specific skin concern.
