The stakes of using data effectively are high, with 66% of consumers claiming they will stop using a brand if their experience is not personalized. The findings highlight the urgent need for brands to leverage zero- and first-party data, meaning data collected directly from interactions with customers rather than a third party, in order to improve customer experience and increase customer lifetime value. Twilio’s 2023 research explores essential consumer trends around personalization, data privacy and trust. It also incorporates data from Twilio’s own customer engagement platform, including Twilio Segment, the leading customer data platform (CDP) for 2021 market share according to IDC. Twilio’s State of Customer Engagement Report is based on a survey of more than 4,700 B2C leaders in key sectors across the world, plus a parallel survey of over 6,000 global consumers. Customer engagement leaders report increased customer retention, conversion and long-term loyalty, while six out of 10 companies report that investment in digital customer engagement improved their ability to meet changing customer needs. The data also show that effective customer engagement strengthens brands’ ability to adapt to shifting market conditions and evolving consumer preferences. Twilio’s fourth annual State of Customer Engagement Report reveals that amid constrained resources and economic uncertainty, investment in digital customer engagement increased brands’ revenue by 90% on average, up from 70% last year. Research from Twilio (NYSE: TWLO), the customer engagement platform that drives real-time, personalized experiences for today’s leading brands, shows that investment in customer engagement continues to drive revenue growth and help companies meet their financial goals in the face of economic headwinds. Perception gap between consumers and brands highlights challenges businesses face activating customer data effectively Twilio’s fourth annual State of Customer Engagement Report reveals customer engagement investments increase brands’ resilience by boosting revenue and improving customer loyaltyĬonsumer patience with poor digital experiences is waning with 66% of consumers reporting they will stop using brands that don’t personalize their experiences
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