Build customer loyalty first, profits will follow: Study
Advertising professionals are chasing return on investment (ROI) which is a somewhat flawed exercise as they must focus more on delivering customer experiences and building loyalty, a new report said on Wednesday.
On the other hand, said Adobe's "2019 Digital Trends Advertising in Focus" report, two-thirds (64 per cent) of marketers stated that content and experience management is a top priority -- which falls to less than half of advertisers -- as they look to build loyalty and lasting customer relationships.
"Brands today are required to evoke an emotional connect with their customers while combining it with data-driven marketing in order to tailor experiences that drive value and render a significant competitive advantage," Sunder Madakshira, Head, Marketing, Adobe India said in a statement.
"Only the businesses who succeed in addressing these evolved requirements of today's digitally empowered customer across will win in this Customer Experience era," he added.
For advertising professionals, the biggest priority for almost half of respondents (46 per cent) is to demonstrate Return on Investment (ROI) to the rest of the business.
This is followed by better audience targeting and segmentation (42 per cent) and improving channel efficiency (40 per cent).
"Nearly a quarter (23 per cent) stated that the most exciting opportunity for 2019 was data-driven marketing that focuses on the individual first," said the study.
"Creativity and metrics are connected. We need to focus much more on quality and relevance -- those are two key words for me this year," said Mike Klinkhammer, Director of Advertising Sales EU, eBay.