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B2B marketers look to match B2C in level of customer experience

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Customer experience (CX) has become an increased focus for marketers across industries, but many B2B marketers feel as though they need to catch-up to their consumer-facing counterparts to deliver better experiences.

Nearly 90% of B2B marketers think their organizations need to be as focused on customer experience as their B2C counterparts, according to a Dun & Bradstreet report (download required). And while 38% of B2B marketers believe they outpace their competitors when it comes to creating and delivering customer experiences, nearly a quarter indicated they feel as they are lagging behind.

If marketers from both B2B and B2C organizations are so focused on delivering personalized, omnichannel experiences, why do so many B2B brands struggle with CX? According to those surveyed, over one-third cited the inability to use the data and tools they already have in place as their biggest CX challenge. The inability to identify customer touchpoints and lack of insight into the customer journey were also notable challenges.

Why we should care

For B2B marketers who are committed to improving customer experiences, establishing data governance will play a critical role in their marketing strategies for the coming year. Among the long list of data governance challenges, most marketers are familiar with siloed data and dealing with incomplete customer data. According to the study, emerging technologies such as customer data platforms (CDPs) and data management platforms (DMPs) are being increasingly used by both B2B and B2C marketers to manage the firehose of data they are generating. Ultimately, B2B brands don’t need more data, they need to make sense of the data they already have, the study concludes.

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“Unlike B2C, in B2B there is not a single buyer, so having a full customer picture of both the individual and the account is critical to deliver on the promise of personalization,” said Lauren Bakewell, chief product officer, sales and marketing solutions at Dun & Bradstreet. “Without the ability to centralize the many aspects of customer and prospect data, it is very difficult to see customers holistically at both an account and individual level and deliver a personalized and consistent customer experience to each. Simply put, informed and personalized omnichannel experiences mean more sales, stronger loyalty and greater long-term customer value.”

More on the news

  • 84% of marketers say their teams will be putting more focus on data in the next year.
  • Measurement and analytics came in as a top priority for nearly 70% of respondents.
  • Account-based marketing (ABM) continues to be a critical approach for B2B marketers to use data as a competitive advantage.
  • The 255 survey respondents were all B2B marketers with a job title of manager or above.

About The Author

Jennifer Videtta Cannon serves as Third Door Media’s Senior Editor, covering topics from email marketing and analytics to CRM and project management. With over a decade of organizational digital marketing experience, she has overseen digital marketing operations for NHL franchises and held roles at tech companies including Salesforce, advising enterprise marketers on maximizing their martech capabilities. Jennifer formerly organized the Inbound Marketing Summit and holds a certificate in Digital Marketing Analytics from MIT Sloan School of Management.

Marketingland.com

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MARKETING

Old Navy to drop NFTs in July 4th promo update

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Old Navy to drop NFTs in July 4th promo update

Old Navy will update its yearly Fourth of July promotions by saluting the metaverse with an NFT drop, going live June 29.

In honor of the year they were founded, the retailer will release 1,994 common NFTs, each selling for $0.94. The NFTs will feature the iconic Magic the Dog and t include a promo code for customers to claim an Old Navy t-shirt at Old Navy locations or online.

“This launch is Old Navy’s first activation in web3 or with NFTs,” an Old Navy spokesperson told MarTech. “As a brand rooted in democratization and inclusivity, it was essential that we provide access and education for all with the launch of our first NFT collection. We want all our customers, whether they have experience with web3, to be able to learn and participate in this activation.”

Accessible and user-friendly. Any customer can participate by visiting a page off of Old Navy’s home site, where they’ll find step-by-step instructions.

There will also be an auction for a unique one-of-one NFT. All proceeds for the NFT and shirt sales go to Old Navy’s longtime charitable partner, Boys & Girls Clubs of America.

Additionally, 10% of NFT resales on the secondary market will also go to Boys & Girls Clubs.

Support. This activation is supported by Sweet, who’s played a major role in campaigns for other early NFT adopters like Burger King.

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The Old Navy NFTs will be minted on the Tezos blockchain, known for its low carbon footprint.

“This is Old Navy’s first time playing in the web3 space, and we are using the launch of our first NFT collection to test and learn,” said Old Navy’s spokesperson. “We’re excited to enable our customers with a new way to engage with our iconic brand and hero offerings and look forward to exploring additional consumer activations in web3 in the future.”

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Read next: 4 key strategies for NFT brand launches

Why we care. Macy’s also announced an NFT promotion timed to their fireworks show. This one will award one of 10,000 NFTs to those who join their Discord server.

Old Navy, in contrast, is keeping customers closer to their owned channels, and not funneling customers to Discord. Old Navy consumers who don’t have an NFT wallet can sign up through Sweet to purchase and bid on NFTs.

While Macy’s has done previous web3 promotions, this is Old Navy’s first. They’ve aligned a charity partner, brand tradition and concern for the environment with a solid first crack at crypto.


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About The Author

Chris Wood draws on over 15 years of reporting experience as a B2B editor and journalist. At DMN, he served as associate editor, offering original analysis on the evolving marketing tech landscape. He has interviewed leaders in tech and policy, from Canva CEO Melanie Perkins, to former Cisco CEO John Chambers, and Vivek Kundra, appointed by Barack Obama as the country’s first federal CIO. He is especially interested in how new technologies, including voice and blockchain, are disrupting the marketing world as we know it. In 2019, he moderated a panel on “innovation theater” at Fintech Inn, in Vilnius. In addition to his marketing-focused reporting in industry trades like Robotics Trends, Modern Brewery Age and AdNation News, Wood has also written for KIRKUS, and contributes fiction, criticism and poetry to several leading book blogs. He studied English at Fairfield University, and was born in Springfield, Massachusetts. He lives in New York.

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