Lack of real-time analytics, a challenge for marketers

Photo by Lukas

A MoEngage study, The State of Insights-led Customer Engagement in North America Report 2022discusses the customer, journey, and campaign insights measured by marketers and the challenges they face due to their tech stack limitations.

The study polled 2,000 marketers at the manager, senior manager, director, and C-level from enterprises, mid and small businesses to learn how customer insights help build an impactful customer engagement strategy.

The report highlights marketers’ inability to access real-time analytics despite using Customer Data Platforms (CDPs) and Customer Relationship Management (CRM) systems, as 34% still struggle with real-time analytics. 

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Meanwhile, 40.4% of North American marketers manage customer engagement operations by enabling various marketing functions to operate as independent teams that employ different marketing tools with no actionable insights.

This often results in incomprehensible fragmented data, leading to disjointed customer experiences. Thus, campaign planning, execution, and measuring the ROI remains challenging.

The report enumerates various customer, campaign, and journey insights.

  • 23.3% of survey respondents measure customers’ interests and affinities such as most viewed content or purchased product, while 20.6% leverage primary data such as customer demographics for decision-making, resulting in brands making blanket assumptions about their customers’ preferences. The survey indicates that marketers in North America fail to understand the importance of measuring customers’ probability to purchase, churn, or preferences to hyper-personalize experiences.
  • 40.1% of marketers analyse the most optimum path to conversion as a part of journey insights. Meanwhile, AHA and drop-off moments received equal responses showcasing that marketers are really focused on active customer acquisition vs retention. The findings reveal that marketers might be analysing other journey insights; however, their existing tech stack’s limitations keep them from monitoring these insights.
  • 38.6% of survey respondents prioritize their communication channels based on customer preferences and opt-in data, while a meagre 15.2% prioritize based on behavioural attributes. Consequently, marketers fail to understand the entire customer journey when thinking about new channel engagement to ensure each customer has a relevant path.

Sharing his thoughts on The State of Insights-led Engagement in North America 2022 Report, Raviteja Dodda, CEO of MoEngage, said, “The report findings will help consumer brands understand the importance of measuring deeper customers insights while allowing marketers to understand how their current customer engagement tech stack might be limiting their scope to understand customers better.

“Brands need to be customer-centric and proactive in the way they engage with their customers one-on-one to build stronger relationships.”