Four-fifths (81%) of Australian retail marketers consider personalisation important to driving both increased revenue and better customer experiences (CX), despite nearly one-fifth (16%) being unable to act on their existing customer data, according to the ‘Retail Roadblocks’ report from customer engagement platform, Emarsys.
With almost one-fifth (15%) responsible for CX, CRM, digital marketing, branding, customer acquisition andcustomer retention, marketers are stretched thin and required to deliver more sophisticated work, across a broader spectrum, in the same or less time.
The report reveals that an inability to scale content is hampering over one-third of retail marketers (39%), while 27% say they are lacking the ability to segment by behaviour and purchases — a must-have for effective personalisation. 13% also state that data silos are limiting their ability to personalise.
It’s also evident that some marketers are feeling the negative effects of legacy tech infrastructure. Closer to one-fifth of retail marketers (14%) saying their current martech stack isn’t fit for purpose, with one-quarter (25%) citing poor technology integration as a barrier to personalisation. 42% are devoting more time to preparing and segmenting data than doing anything else.
Almost half (46%) of marketers will be investing in more web personalisation technologies in the next 12 months. With over two-thirds (70%) wanting to spend more time improving personalised product recommendations, and 96% wanting more time to get to know customers as people, marketers are turning to technology to buy back time and improve their personalisation capabilities.
Commenting on the need for investment, Emarsys CEO, Joanna Milliken said, “As the world of retail evolves, new channels appear, and customer expectations change, marketers are taking on more and more responsibility for the success of their business. This also means that they’re under more pressure than ever before.
“Not only is personalisation now seen as crucial to business success, demanding more sophisticated marketing tactics and technologies, but marketers are also taking on more responsibility in customer acquisition, experience, and retention.
“Far too many marketers are caught up in processes, buried in unactionable data, and stretched beyond their limits due to legacy technologies — through no fault of their own. They’re also being forced to adapt to a data landscape that prioritises first-party data — where, again, the digital infrastructure to ensure that they succeed isn’t always there.
“This gauntlet of roadblocks — strategy, budgets, people and tech — isn’t going anywhere. Marketers can’t rise to the occasion without the technologies needed to empower them. In turn, this can help them to focus on real outcomes, for their end customers, their business and even their own careers.”