Editor’s Note:
In today’s edition of the QT: Fixing the personalization / privacy paradox, the path to CMO success is getting more complex, guess what the primary driver of customer loyalty was (is), and how emojis are taking over the world.
– Mike Giambattista, Editor in Chief
FEATURE: Addressing the CX Paradox
On one hand, customers expect brands to know enough about their preferences to provide high-quality interactions, personalized experiences across every touchpoint. At the same time, this expectation exists alongside a wariness to share personal information. Read more …
CMOs
Retailers are Expanding the CMO Role
“New customer acquisition always will be and always has been important, but as it gets more and more expensive it’s really about retaining those customers you already have,” said Calla Murphy, VP of digital strategy and integrated marketing at Belardi Wong. “We’re really seeing marketing teams look for people who are not just growth marketers, not just performance marketers or experts in acquisition but can really also help foster those customer relationships.”
eCommerce
Internet Records Historic $1 Trillion Consumer Milestone
New analysis from Comscore reveals mobile’s share of total digital commerce accounts for almost 40% of all consumer online retail spend. Comscore, a leader in global media measurement, announced that the internet recorded the largest year of digital commerce in its history in 2022, exceeding $1 trillion in online retail consumer spend for the first time in the U.S. This reflects a 21% increase in spend year-over-year (YoY).
Brand Loyalty
Value for Money Top of the List in Building Brand Loyalty
When asked which brand characteristics they think are essential for building customer loyalty, value for money was the most popular, chosen by 77% of the respondents, followed by the quality of products and services (64%). Overall, 57% of respondents chose building loyalty as the third most important characteristic. Other incentives to drive customers to buy from a new brand are reviews, cited by 54% of respondents, which can help influence a purchasing decision.
CX
CX is a Primary Driver of Competitiveness for More than Two-Thirds of Companies.
Zendesk reports that a positive experience will drive a future purchase decision for more than 80% of customers, but 61% would end their relationship with a company after just one negative interaction.
Kinda Saw That Coming …
69% of Gen Z and Millennials are more comfortable expressing emotions though emoji than through text-only conversations.
- 92% of U.S. emoji users agree that emoji can communicate across language barriers.
- 71% of U.S. emoji users agree that emoji are an important communication tool for creating unity, respect and understanding of one another.
- More than half of U.S. emoji users are willing to purchase an item using an emoji (57%) – with Gen Z’ers being the most willing (71%), followed by Millennials (67%).
