It may not be the most surprising of findings, but it's worth seeing it from a big player: Adobe’s 2020 Digital Trends report has found that brands focusing on customer experience (CX) directly leads to higher business growth.
As per the report, UK brands leading in customer experience were three times more likely to exceed their 2019 business goals. Those leading in CX all shared a common approach of investing more in people, technology and structures. The researchers of the report surveyed more than 13,000 advertising, global marketing, ecommerce, creative and IT professionals to know about their 2019 achievements and 2020 priorities.
The report also found that though CX is the top priority for UK brands, they lack maturity. Businesses in the UK clearly recognise the importance of taking a customer-first approach, with almost a quarter (24%) of British brands ranking customer experience optimisation as their most exciting priority for 2020. The UK’s focus on CX outranks global and European average of 22%, ahead of both Germany (23%) and Italy (16%), and behind only Nordics (26%) and France (25%).
A report from The CMO Club earlier this month has found that brand visibility still trumps all when it comes to benchmarks. 51% said their top measurement of success in the eyes of their CEO was awareness, ahead of sales and revenue (31%) and media return on investment (29%).
Another study, titled ‘How Brands’ Social Media Impacts Consumers’ found that two thirds (65%) of consumers out of the 554 respondents said that they are more likely to purchase from a company they have followed for a month, while more than half (54%) are ‘very’ or ‘extremely’ likely to look at a company’s social presence while researching a product.
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