Merkle’s pioneering research illuminates evolving consumer expectations and urges brands to prioritize responsiveness to stated preferences for enduring customer loyalty, offering transformative insights into navigating today’s digital landscape.
6 February 2024 – Merkle, the premier technology-driven customer experience management (CXM) entity within dentsu, has launched the inaugural chapter of its groundbreaking research series, entitled “Engagement to Empowerment: Winning in Today’s Experience Economy.” This comprehensive report delves into contemporary consumer expectations regarding brand interactions, urging brands to prioritize responsiveness to stated preferences to cultivate enduring customer loyalty and forge long-term relationships.
The research illuminates a transformative landscape where technological advancements intersect with evolving consumer expectations, spotlighting a fervent desire among customers for heightened control and influence over brand marketing strategies. A striking 85% of consumers in the APAC region, as revealed by Merkle’s survey, perceive personalized product or service recommendations as profoundly impactful on their brand experiences. Moreover, as younger consumer cohorts transition into adulthood and digital natives fuel economic growth, consumers increasingly exhibit comfort in entrusting brands with their personal data (51%), while others remain neutral (29%) or skeptical (21%).
Another pivotal finding underscores that, on average, merely 2.5 sources of information significantly influence a consumer’s brand decision, heightening the stakes for brands to adapt and cater to this empowered consumer base. Merkle advocates for six imperatives based on their study, including understanding CX fundamentals from the customer’s perspective, leveraging customer data ethically, and prioritizing live human interaction to meet consumer needs.
Chris Webb, Chief Operating Officer of Merkle APAC, emphasizes the imperative for brands to transcend trend-following and discern the essence of “excellent” customer experience, which transcends personalization to foster authentic connections resonating emotionally with consumers. The research equips brands with tangible insights to align their investments with evolving consumer expectations, ensuring the delivery of positive and connected experiences across diverse touchpoints.
