New Study: Retailers Look to Bridge the Relationship Gap with AI
By Gareth Becker, WBR
Over 100 marketing leaders from the most prominent retail brands in the world weighed in on consumer engagement strategies in the 2017 study, “Building Lasting Consumer Relationships in Retail,” released by Persado and WBR Digital. The survey was conducted via in-depth interviews with CMOs and other marketing leadership at US- and UK-based major retailers including Best Buy, Marks and Spencer, Williams-Sonoma, Urban Outfitters, and Nordstrom, amongst many others.
The survey reveals that despite retailers’ efforts to provide relevant content and experiences, they continue to fall short on the personalization front. How these companies are personalizing might be standing in the way of better communication. According to the study, marketers are overly relying on demographic and geographic data, while significantly underutilizing behavioral data, lifecycle stages, and psychographic indicators like emotional triggers. Retail CMOs are looking to artificial intelligence solutions to broaden their view of the customer, allowing them to engage their audiences in a much more personal way.
The following infographic highlights other key points.