Blogs

25 Statistics on Customer Engagement Management (and Why You Need CEM in Your 2021 Strategy)

osg
April 22nd, 2021 - 10:00AM

Customer engagement management is fast becoming the go-to marketing strategy in 2021.

This holistic approach to managing, analyzing, and improving engagement with customers through cross-channel conversations lends itself to strategic market differentiation—an organizational imperative in a time when competition is so heightened among leading brands.

But instead of us just touting the benefits of customer engagement management, we’re turning to the experts. A slew of studies over the past five years tell an eye-opening story through their resulting numbers, insights, and metrics.

Take a peek to understand why customer engagement management isn’t just a trend, and how you can get started with successful implementation.

Experience is everything

Let’s start with the customer experience. Creating a good one isn’t just a matter of making customers feel good—it’s delivering a consistent, positive experience across touchpoints and channels. And it’s now a competitive advantage.

Here are 9 stats from consumers to back that up.

  1. 1 in 3 said they’d leave a favorite brand after just one bad experience with it.
  2. After two or three bad interactions, 92% would never do business with your company again.
  3. If they could pay more for better customer service, 86% would.
  4. 2/3 of customers expect a company to understand their unique needs.
  5. 96% say customer service is what makes them stay loyal to a brand.
  6. More than either price or brand, experience accounts for 2/3 of customer loyalty.
  7. Industry leaders in customer experience do better than their competitors by almost 80%.
  8. 84% of companies focused on improving their customer experience say they’ve increased their revenue because of it.
  9. In fact, over 80% of businesses compete based on the experience they provide customers.

Can creating good feelings with customers actually affect the bottom-line? If these consumer reports are right, the answer is yes. It’s time to start focusing on driving a positive experience for your customers right now.

Creating tailored and timely conversations

Customer experience is mainly driven by intentional marketing. This includes content delivered on your website, through digital ads, on social media, and through email marketing, to name a few. It also includes customer service interactions.

See how getting the timing and customization just right is a critical part of reaching customers with these 10 insights.

  1. Another 48% will unsubscribe if they receive a message that isn’t relevant.
  2. Receiving a poorly-timed message — or one that isn’t personalized — will make 14% of people stop doing business with you.
  3. 52% of customers expect offers to always be personalized—up from 49% in 2019.
  4. Two-thirds of consumers want to share personal data with you. You just have to provide exceptional value on the other end by using that data in meaningful ways.
  5. Data matters. 62% of marketing leaders have drastically increased their use of it.
  6. 70% of marketers are planning to collect more online data.
  7. Personalization is more impactful than you may even know with 90% of customers stating personalization is “very or somewhat appealing.”
  8. See a 23% higher share in profitability, revenue, and relationship growth when you fully engage your customers.
  9. Experience a 63% lower customer attrition when you fully engage your customers.
  10. Achieve a 55% higher share of wallet when you fully engage your customers.

Customers are willing to share their data with you as a trade-off for hyper-personalized and timely communication. And successfully integrating that data into every touchpoint is your ticket to growth.

The multichannel approach

Personalization is impossible without automation. You have too much data to do it securely any other way. Automation through a customer engagement management platform allows you to apply a seamless, multi-channel approach to every communication.

  1. The average household now contains over 10 different connected devices.
  2. Today, more than 80% of companies invest in multi-channel marketing, up from 20%.
  3. The customer journey is important, especially the middle and end stages that 75% of marketers say gets the most engagement.
  4. 76% of customers prefer multi-channel marketing.
  5. In developing multichannel campaigns, data was the number one factor for success.
  6. When compared to a single channel campaign, omnichannel campaigns boasted a 250% increase in purchase rates.

Conclusion: Avoid the struggle with customer engagement management

A multichannel approach works because it puts legs on your customer engagement strategy. Deploying impactful messages at the right times to the right people. While the customer sees nothing but a focused, personalized experience with your brand, multichannel automation syncs the entire process to deliver at every touchpoint.

Reactive, general marketing campaigns don’t have to be the way you approach your customer relationships anymore. It’s possible to talk to customers in a way that feels like a real conversation—addressing what they like, want, and need.

With CEM you can meet customer expectations and increase bottom-line results. And thanks to automation, it all happens with a click of a button.

Let's Get Started