Empowering marketers with actionable insights for better customer engagement strategies
summary:
MoEngage today announced its 2024 Customer Engagement Benchmark Report, which focuses on: united states of america and Canada. This comprehensive analysis is derived from over 20 billion data points and insights from thousands of consumers, marketers, and leading enterprise brands to help you optimize your marketing campaigns through personalized omnichannel customer experiences. Uncover key trends and strategies.
San Francisco, May 16, 2024 /CNW/ — MoEngage®, the leading insights-driven customer engagement platform, has released its annual report. Customer engagement benchmark report – North America 2024 edition.
After analyzing extensive data, this report provides key insights and benchmarks for VPs, CMOs, and marketing stakeholders looking to improve marketing efficiency and return on investment (ROI).
This report shows:
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Behavior-based and journey-based personalization has a significant impact on the performance of channels such as email, push notifications, and SMS.
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How personalized marketing can skyrocket delivery rates, open rates, CTOR/CTR, conversion rates, and overall campaign performance across industries.
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Best practices for brand marketers to optimize and personalize their omnichannel strategies.
These insights are based on MoEngage's top enterprise customers, including Publishers Clearing House, Poshmark, Loblaw Companies, Audiomack, Inc, Soundcloud, Payactiv, and Lendmark Financial Services.
Key takeaways from the report include:
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67% of consumers don't feel comfortable with brands using their data to provide more personalized experiences.
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Across industries, personalized emails based on customer journey and behavior can achieve up to 93.3% conversion rate (CVR), dramatically outperforming generic messaging.
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Behavior-based push notifications on iOS and Android devices see CVRs of up to 35.8% and 16.2%, respectively, a significant improvement compared to non-personalized approaches.
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Personalized SMS using customer behavioral insights led to a CVR of 7.6%, which is 1.3x higher than typical broadcast SMS, demonstrating the effectiveness of personalized communications.
Aditya Vempity, Head of Marketing, MoEngage said: North Americaexplains that this report presents encouraging data that supports the case for personalization in customer communications.
“Leveraging data from over 3,000 customers, our report identifies pivotal trends, including behavior across key channels such as email, SMS, and push notifications, and the influential role of journey-based personalization. 93.3% of the time, we provide actionable insights and best practices for B2C marketers. significantly increase ROI and deepen customer engagement through customized communications. ” – Aditya Vempity, Head of Marketing, MoEngage North America
To further analyze the report's insights, MoEngage partnered with The Marketoonist. Tom FishburneAVP of Digital Marketing at Publishers Clearing House; eve fishwill host an insightful webinar ahead of the ongoing report launch. Available on demand.
The webinar highlighted insights from the report and concluded that traditional personalization methods that rely on demographics and names are no longer effective. What has proven to be effective is personalization based on customer behavior and tailoring messages based on the stage of the buying process.
“Marketers have always sought the holy grail of delivering the right message to the right person at the right time. But much of today's personalization is driven by data collection, organizational silos, and false assumptions. It's thwarted and doesn't work. Inadequate personalization can be worse than no personalization.” ” – Tom Fishburnemarkettoonist
Data suggests that successful implementation of these advanced personalization strategies relies on a deep understanding of customer preferences and a reliable customer engagement platform that can seamlessly execute these strategies. .
“The essence of personalization at scale is determining the ‘who,’ ‘what,’ ‘where,’ and ‘when’ of every communication to maximize conversion events. Over 38 million people If you want to leverage multiple marketing channels with extensive zero-party data from fully authenticated customers, run millions of unique experiences using a robust customer engagement platform like MoEngage. We recognize the need to seamlessly adjust, automate, and predict results to optimize engagement every day.” – eve fishAVP of Digital Marketing, Publishers Clearing House
The report can be accessed here. Customer Engagement Benchmark Report 2024: North America
About MoEngage:
MoEngage is an insight-driven customer engagement platform that enables marketers and product owners to leverage AI-powered insights to create omnichannel experiences that resonate with consumers. By leveraging real-time analytics and AI, MoEngage enables brands to run personalized campaigns that significantly increase user engagement and retention.
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Source MoEngage
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