Article

Jack Davies
Jack Davies 3 November 2017

Only 17% of consumers feel valued by brands, despite 90% of marketers claiming to be customer centric

Despite 90% of marketers claiming that they are “customer centric” in their approach, only 17% of consumers feel valued by the brands they buy from. That’s according to a new report from experience management leaders Qualtrics. Their findings highlight how marketers can create a competitive advantage by adding a new layer of data that tells them not just what happened, but why.

The Qualtrics research, based on insights from 250 marketing professionals and 250 consumers, reveals a clear gap between the experiences that marketers believe they are delivering and what today’s customers expect, want and deserve.

While 81% of marketers agree it is extremely important to understand their customers, below half (46%) of consumers say they are understood by the brands they usually buy from, and only 60% say brands put the customer first.

Almost two-thirds of marketers (64%) say they are being held back when it comes to developing customer insights. A lack of time and budgetary constraints are the primary reasons, but 51% also said that they did not know what they were looking for when it came to analysing customer feedback, data and trends.

Qualtrics suggests that this inability to understand customers is due to an over reliance on “Operational data” – data that states what consumers have done in the past. Instead, Qualtrics argues that brands must supplement their existing data with “Experience data” and identify trends that explain why consumers act in the way they do.

Qualtrics’ report highlights the importance of marketers thinking beyond traditional data analysis to help close the experience gap, as Caroline Mogford, Marketing Director for Qualtrics EMEA, explains:

“The most successful marketers are adding a layer of insight to their data. They’re thinking not just about what happened in the past, but about why it happened. It’s this additional layer of context – the ‘Experience Data’ – that’s providing the real competitive advantage for today’s brands.

By thinking in these terms, marketers can provide an experience that not only meets, but exceeds expectations. The secret for today’s marketers isn’t more data, it’s a different kind of data.”

Please login or register to add a comment.

Contribute Now!

Loving our articles? Do you have an insightful post that you want to shout about? Well, you've come to the right place! We are always looking for fresh Doughnuts to be a part of our community.

Popular Articles

See all
10 Digital Marketing Trends for 2019 you Should Know

10 Digital Marketing Trends for 2019 you Should Know

As digital trends evolve every year, marketers should always be aware of the changes in order to easily adapt with emerging technologies and stay ahead in the market. This will help them gain a competitive edge and...

Georges Fallah
Georges Fallah 27 December 2018
Read more
7 reasons why social media marketing is important for your business

7 reasons why social media marketing is important for your business

Social media is quickly becoming one of the most important aspects of digital marketing, which provides incredible benefits that help reach millions of customers worldwide. And if you are not applying this profitable...

Sharron Nelson
Sharron Nelson 6 February 2018
Read more
Top 10 B2B Platforms to Help your Business Grow Worldwide

Top 10 B2B Platforms to Help your Business Grow Worldwide

Although the trend of a Business to Business portal is not new but the evolution of technology has indeed changed the way they function. Additional digital trading features and branding has taken the place of...

Salman Sharif
Salman Sharif 7 July 2017
Read more
Digital Marketing Vs. Traditional Marketing: Which One Is Better?

Digital Marketing Vs. Traditional Marketing: Which One Is Better?

What's the difference between digital marketing and traditional marketing, and why does it matter? The answers may surprise you.

Julie Cave
Julie Cave 14 July 2016
Read more
Top 10 Skills to Become a Rockstar in Digital Marketing

Top 10 Skills to Become a Rockstar in Digital Marketing

Technology is continuously evolving, prompting marketers and entrepreneurs to dive into digital marketing to increase brand awareness, reach their target market, and ultimately drive sales and profit. 

Jessica Andriani
Jessica Andriani 7 September 2018
Read more