Brands still wrestling with the rise of AI-powered marketing are being offered a helping hand with launch of a new report which claims to prove the transformative impact of the technology on the customer experience.
Commissioned by Acxiom and conducted with global research and consultancy firm MTM, the “Where AI and Marketing Collide” study draws on feedback from 200 businesses and insights from 2,000 consumers across the US and UK.
It details five CX trends to watch in 2024:
– Shoppable Ads: Leveraging AI, ecommerce, and digital advertising, these ads streamline the path from browsing to buying, evolving with user behaviour and offering unprecedented personalisation, the report maintains, showing that 66% of consumers value the convenience of discovering products relevant to their interests.
– Proactive Customer Service: Embracing conversational and generative AI, this new era of customer service leverages digital self-service and improved agent support, ensuring a frictionless and seamless CX. Notably, the study highlights that over one third (35%) of consumers favour AI chatbots over humans for basic interactions.
– Healthy Acquisition and Retention: Pivoting to AI-powered strategies for acquiring and retaining high-value customers, brands will prioritise lasting profitability over sheer growth. Nearly three-quarters (73%) of customers surveyed remain loyal to brands that offer tailored, meaningful experiences.
– Predictive Personalisation: Using AI to intuitively anticipate and address customers’ wants and needs, brands are set to revolutionise CX, the study claims. Nearly half (47%) of the report’s respondents say they engage more actively with individualised content and offers.
– Sustainable CX: Catering to eco-conscious and socially aware consumers, AI empowers brands to align business objectives with consumer values. The study found that 44% are willing to pay a premium for sustainable products, and 38% weigh a brand’s social impact before purchasing.
Acxiom CEO Chad Engelgau said: “2023 brought AI breakthroughs like OpenAI’s ChatGPT, reshaping how we approach CX. Yet, it’s crucial to note that AI’s brilliance shines brightest when grounded on accurate, ethically sourced data.
“For brands to thrive using this advanced technology, a robust customer intelligence strategy is essential—prioritising foundational analytics, scaling AI efforts, and balancing personalisation with privacy and respect are key. Our report paves the way forward for successful AI-enabled CX.”
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