Digital Marketing and Ecommerce Executives Lean on Personalization for 2022: Survey Findings
A recent survey of 118 digital marketing and e-commerce executives conducted by CommerceNext in partnership with CommX found that building more meaningful customer relationships through loyalty programs is a top priority for brands . Reaching consumers with loyalty programs (52% of respondents plan to launch or expand their current program in 2022) is more likely to be a cryptocurrency payment or an AR/ Research has shown that this is more important than investing in technologies such as VR.
Personalization, navigation and discovery, and search to keep customers coming back were also high on respondents’ to-do lists.
CommerceNext co-founder Scott Silverman said: “E-commerce activity, which began during the Covid-19 pandemic, is still at a much higher level and has not really declined. We are also seeing a significant increase in customer acquisition costs. Increased competition drives up ad spend, and poor targeting associated with changes from Apple iOS 15.4 reduces effectiveness.
“Paid social will remain the top acquisition channel in 2022, but due to its high cost, retailers are looking for models that generate higher ROI in 2022,” Silverman added. “Brands looking to love their customers are prioritizing loyalty, experience and personalization. It will build a great and lasting brand.”
Among all surveyed executives, supply chain challenges continue to be viewed as the main obstacle to achieving desired sales results by 61% of respondents, with digital-first retailers surveyed 75% of respondents say rising customer acquisition costs are their primary concern. Inflation concerns are also a top priority, with 56% of respondents expecting a minimum price increase of 6% and 20% expecting a rise of 10% or more for him.
“Getting customers on the cheap is over,” says Silverman. “Our current focus is on providing existing and new customers with better and more relevant experiences. That’s why we are investing a lot in things like personalization and loyalty, site search and navigation. increase.”
“With so many headwinds for retailers, including supply chains, inflation and global events, investing in the opportunity to empower brands to own their own data and build on that lifetime value is a great opportunity. “It’s more important than ever,” said Brian Walker, Chief Strategy Officer at Bloomreach, a founding member of CommX, “More and more brands are looking to improve customer experience and improve acquisition and paid social. The more we prioritize maintenance through a diverse range of initiatives beyond, the better our results will be throughout the year and the more sustainable our business will be.”
Opportunities in 2022 include adding revenue streams such as international e-commerce, a clear area of focus, but views of brand executives on social commerce are mixed, with 45% of respondents still “considering” medium,” but does not prioritize.
When it comes to the metaverse, digital marketing and e-commerce executives are taking a wait-and-see approach. “All retailers want to be innovative and try new things,” he says Silverman. “It’s a matter of how much time and resources they put into it compared to others. We prioritize other things.”
Silverman said the luxury segment is shedding light on technologies like metaverse, crypto, and AR/VR. “In the luxury world, we have a lot of customers in these areas, and more and more. That way, when it becomes a more important trend, we will be better prepared.”
CommerceNext, a community, event series and conference for marketers of retail and direct-to-consumer brands, is now in its fourth year and features webinars, virtual summits, industry surveys and an online community in addition to the annual CommerceNext Summit. has grown to include and the CommerceNexty Awards.
“We collect demographic information,” said Silverman, noting that nearly half of the respondents are companies with online revenues of $100 million or more, and about 20% have e-commerce revenues of more than $500 million. added.
“In terms of business model, it was a traditional, digital-first, omnichannel mix of department stores and wholesale manufacturers,” says Silverman. “They have a fairly strong direct business. These businesses are divided into types and social commerce and live streaming. A lot is happening on social platforms where you can buy without leaving the site.
“If you are scrolling through Instagram and see a retailer has something for sale, you can actually enter your credit card and complete the entire transaction without going to the retailer’s site. I will,” he added. “Everything happens on social platforms. There is a lot of interest in this given how much time people spend on social platforms.”