According to the latest report from Simpler Media, 46% of companies have not yet invested in personalization tools or had no budget in place for the same.
According to the latest report from Simpler Media, 46% of companies have not yet invested in personalization tools or had no budget in place for the same. The report titled State of Digital Experience is based on 325 digital customer experience executives.
The report found that 79% of executives believe that digital customer experience (DCX) was an extremely or very high priority for their organization. Meanwhile, only 9% said they are using personalization tools, a drop from last year when 14% and 27% said they are testing them. Businesses are failing to utilize metrics; however, they still want more customer insights. As per the report, companies are prioritizing DCX, but are still not focusing on personalization tools, revealed the report.
Moreover, the report found that 90% of the DCX executives lacked insights, thereby explaining why their customers are doing what they’re doing. At the same time, only 11% said they understood their customers’ behavior well. Meanwhile, 33% of executes rated their understanding of their customer behavior as poor. Lastly, 52% said they understood their customer’s behavior moderately. Sharing more insights about the usage of the metric, the report revealed that 57% of respondents were using just three or fewer metrics. Furthermore, 54% of DCX’s using one to two metrics claimed the “effectiveness” of their measurement tools needed work.
Forty-six percent of executives said their current platforms and tools need work to create digital customer experiences. Meanwhile, 41% said the tools they used were satisfactory, and 13% reported they worked well. Sixty percent reported they were currently evaluating, upgrading or shopping for new CMS platforms or digital experience platforms. Offering insights on GDP, the report revealed that 23% of executives have already purchased a CDP, and 34% are evaluating options. Meanwhile, 13% have decided against a CDP, and 28% are undecided.