Acxiom, the customer intelligence company whose data-driven solutions create business growth by enabling better customer experiences, unveiled its top customer experience (CX) predictions for 2023. Beyond the Metaverse – Our CX Predictions for 2023 is grounded in Acxiom’s expertise in data-driven marketing and includes findings from new proprietary research commissioned by Acxiom and conducted by MTM, an international research and strategy consultancy.
“Our report underscores the crucial roles data and customer intelligence play in emerging CX trends and serves as a guide for brands looking to connect with and engage customers in 2023,” said David Skinner, Chief Strategy Officer at Acxiom. “After all, how brands and people interact is the cornerstone of every economy. Our research highlights this fundamental truth – it takes the right blend of data and technology to genuinely understand people. Regardless of trends, brands must have that essential mix to create customer experiences that resonate with people and drive brand growth.”
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Acxiom’s top five CX predictions with highlights from the latest consumer and B2B research include:
Trend #1: Everything-is-an-Ad-Network: Three in four businesses (75%) believe the expected deprecation of third-party cookies will make it harder to reach audiences, making first-party data an asset worthy of investment. Proprietary media networks, including retail media networks, built on owned first-party data, will become an attractive offering for brands looking to capture revenue at every stage of the customer journey. In fact, more than half of companies (55%) believe retail media networks will deliver higher conversion rates because advertisements appear when customers are actively shopping and willing to spend. For businesses that have already amassed a treasure trove of first-party data, this is a strong incentive to launch an ad network of their own.
Trend #2: Anything-as-a-Service (XaaS): For years, XaaS has been gaining momentum through subscription-based platforms for products and services that were once one-and-done purchases. Brands across sectors have recognized XaaS as a transformative tool for engaging with people throughout the customer journey. And in 2023, MTM projects the XaaS market will continue to grow as companies strive to sustain customer relationships – creating significant opportunity for brands that offer their products as services. Seventy-six percent (76%) of large businesses believe offering products as services helps them establish deeper relationships with customers, driving brand loyalty. And a majority of people (57%) agree they get a better customer experience with this model.
SOURCE: Businesswire