TheCustomer Quick-Take

TheCustomer Quick-Take: January 5, 2022

In this new year’s edition of TheCustomer Quick-Take: Underestimating the power of empathy (twice), what it takes to get consent, luxury and loyalty make a nice marriage, where & how of tech spending, and so very much more.

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How Many Email Segmentations?

Quick-Take:report from Simon Data and ClickZ indicates that, while very few marketers use an average of more than 50 segmentations at a given time for email campaigns, the majority (65%) use an average of 2 to 10 segmentations.

Empathy Still Wins

Quick-Take: (The report) found that consumers are most interested in seeing humor- (49%), family- (47%) and value-orientated adverts (43%) over celebrity or athlete-endorsed products and car products, which scored lowest in terms of trust with 20% and 22% respectively.

Quick-Take: That survey found that authoritative or trustworthy sites, including news channels, generated a 76 percent consent rate, while food and drink sectors secured an even higher average consent rate of 86 percent. On the other hand, publishers of more specialized content such as personal finance saw a significantly lower consent rate at 24 percent. Cassard said that specifically, BIPOC women’s sentiment around the banking and healthcare verticals showed delivery fell below their expectations.

Luxury Loyalty Opportunity Gap

Quick-Take: Loyalty is another area ripe for innovation. Many luxury fashion brands do not offer loyalty programmes, although they may reward their highest spending customers with invitations to fashion shows and a dedicated concierge service. The privacy landscape is being redefined as consumers push for greater transparency and tech giants begin phasing out third-party cookies. In a digitised world, brands need to navigate new ways to own the customer relationship and acquire data legally.

Get Good at Saying Goodbye

Quick-Take: Our research shows that 70% of customers who canceled bookings with attractions and received a full refund were “very likely” or “extremely likely” to use them again in the next year. Refunds for events are even more crucial, as 76% of consumers who received full refunds for canceled events said they were “very” or “extremely” likely to attend them in the next year.

Empathy Still Wins (Part Deux)

Quick-Take: “Only 24 percent of information workers strongly agree that their manager is concerned about the welfare of the people who work for him or her.” He added that the turbulence of the last two years has placed employees in a different state of mind with higher expectations about their place of work and careers. According to Forrester, 48 percent of large organizations in the U.S. have a dedicated program for EX. That number will rise to 65 percent as more executives watching their monthly quit rates continue to climb will suddenly become EX advocates of the highest order.

Where We’re Spending Tech Dollars

Quick-Take: According to Omdia’s ICT Enterprise Insights survey, enterprises are concentrating investments on technologies to improve both zero-party and first-party data efforts . 65% said they had strategic or minor investments planned for customer data management, 59% said they had the same plans for data exchange and delivery, 61% for voice of the customer, 60% for real-time customer journey analytics, and 60% for speech analytics.

Luxury Opportunity (Part Deux)

Quick-Take: China’s luxury consumer group has reached a turning point. The data shows that the consumers born between 1990 and 2000 are now 50 percent of the luxury market. Chinese consumer desire for luxury goods is expected to continue to grow in 2022 at an estimated rate of 13 percent, making them the highest spending global consumers. By 2025, Generation Y and Z will account for more than two-thirds of the market.

Getting From Data to Insights

Quick-Take: The truth is, great marketing campaigns come from wickedly smart insights that unlock a strategy pathway that delivers on multiple fronts: resonant messaging, execution, media strategy and beyond. Of course, data is important for discovery, testing and refining, but I think it’s time to get back to a central tenet of marketing: Insights come from observation of behavior, and insights should be supported by data, rather than data driving them. I’m talking about reading the room rather than counting the number of people in it.

The Loyalty Adoption Question

Quick-Take: The average consumer belongs to more than 14 loyalty programs, but is only active in six of them, signaling a gap between acquisition and activation. To succeed, brands need to make it as easy as possible to join a loyalty program.

B2B Tech Buying Moves Online

Quick-Take: In the research/education phase, there has been an 85% increase in the preference for B2B buyers to conduct their research online. In the evaluation stage, the results are even more dramatic: a whopping 238% increase in buyer preference for self-serve looking for information on the companies’ website.

GenZ Could Care Less about Your Campaign

Quick-Take: Gen Z shows the lowest receptiveness to email marketing and is the demographic most likely to not want to hear from brands in their inbox at all (18%). On the other hand, they’re the demographic most likely to say they interact with or follow brands on TikTok; 45% up from 33% last year. Age demographics aside, brand interaction on TikTok has risen overall from 15% to 25% since last year – making it the social platform for marketers to watch in 2022.

Sunset Advice

Quick-Take: However, Melissa Vela-Williamson, chief communication architect and founder of MVW Communications, says that one of the first things to do when sunsetting a product is to take the company’s relationship with its consumers into account. “Like the end of any relationship, there needs to be communication about what is happening, why and how to move forward together now,” Vela Williamson says. “Is there a way to evolve that relationship into a new product line, service or organization?”

Photo by Mads Schmidt Rasmussen on Unsplash.

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