Speed-Trap Report highlights gap between multi-channel aspirations and reality
In-depth research into multi-channel marketing strategies reveals clear plans to improve online and offline integration and deliver multi-channel personalization.
12th February 2009:
Executive Summary
· One third (34%) of companies put their customers at the heart of their decision making.
· But only 11% are taking a cross-channel approach to personalization and targeting.
· Only 13% act on behavioral data.
· Only 16% integrate online and offline marketing.
· Only 20% are definitely able to link data from the online system with the back office systems.
· 39% cite relating online data to actual customers as a key challenge in tying up offline and online data.
The Speed-Trap CRM 2.0 Survey Report is launched today to present new insight into the reality of multi-channel strategies. Speed-Trap, the customer insight software provider, reveals that while the vast majority of organizations recognize the importance of combining online and offline marketing activity to maximize sales opportunities, today only 16% actually achieve that objective.
The research was undertaken by Econsultancy during November and December 2008 and asked over 500 companies and agencies to what extent they had implemented a CRM 2.0 strategy.
CRM 2.0 Survey Report clearly reveals that the online market is maturing; that organizations are no longer treating the web as a separate channel but an integral component of overall strategy.
“As the online channel takes an increasing mainstream role in revenue generation and customer acquisition, this research reveals that organizations across every market sector recognize the need to improve customer personalization and cross-channel integration,” insists Malcolm Duckett, VP Operations at Speed-Trap. “However, there is clearly a large gap between aspiration and reality.”
The research reveals that 83% of organizations either definitely or somewhat put their customers at the heart of their decision making; over a quarter (26%) are committed to creating customer conversations, whilst 25% definitely treat their customers as individuals whether online or offline.
However, it is apparent that organizations are simply not collecting the right information online or managing to effectively integrate the online and offline channels. While 64% would like to link online and offline data to optimize the user experience, but this is currently achieved by only 22%. In addition, 72% would like to link real-time and historical data – achieved by only 17%; and 73% want to carry out real-time personalization based on behavior – currently achieved by only 12% of companies. Furthermore, only a fifth (20%) are definitely able to link data from the online channel with the back office systems
“Traditional web analytics solutions over-promised and under-delivered, leaving too many organizations complacently accepting inadequate web information,” Duckett says.
Duckett concludes, “To achieve the multi-channel vision and improve customization , it will be essential for organizations to leverage the next generation of technology to improve the integration of offline and online information and collect behavioral, aspirational and engagement data. Critically, this data can then be used to drive highly personalized (one-to-one) and innovative multi-channel offers via automated marketing programs and business processes – a scheme that can easily and quickly profitability, but is being widely missed.”
ENDS
About Speed-Trap
Speed-Trap is a provider of software that uses Web 2.0 technology to capture and analyze interaction at the user interface – whatever the device e.g. mobile, iPhone, PDA, gaming console, or technology deployed e.g. webpage, Silverlight, Flash, Flex, AJAX etc. – to deliver complete real-time data on every visitor and user of your online applications – complete online customer insight.
Speed-Trap’s systems have come to define a new approach to the integration of on-line applications into an enterprise’s Information Architecture. The system’s User Interface Capture functionality provides a definitive, flexible and reusable source of customer, behavioral, process and performance data from any internet, intranet or extranet application.
Speed-Trap’s customers use their patented and tag-free Dynamic Collection™ solutions to drive applications as diverse as Fraud Detection, Marketing Automation, Campaign Measurement, Usability & Design, CRM systems and Web Analytics.
With an integrated, interactive reporting suite and options to directly populate Enterprise Data warehouses via its partnership with Teradata, it represents the leading edge of advanced on-line channel data capture, analysis and delivery systems. Companies like The SAS Institute utilize Speed-Trap’s technology in their SAS for Customer Experience Analytics product that couples their world-class analytics, marketing tools with Speed-Trap technology to provide integrated cross-channel marketing and customer insight.
Based in the UK, Speed-Trap delivers its solutions directly and via a range of OEM, reseller and system integration partners around the world. Direct customers include Alliance & Leicester, AXA, directgov, Betfair, Paddy Power, PC World Business, ghd and WH Smith. Speed-Trap’s partners include the SAS Institute, Teradata Corporation, Arcade e-Business, BIMA, Detica and Zencos LLC.
For further information, please contact:
Malcolm Duckett
Speed-Trap
Tel: +44 (0) 1635 230 630
Fax: +44 (0) 1635 230 435
Email: malcolm.duckett@speed-trap.com
or
Will Gardiner
itpr
Tel: +44 (0) 1932 578 800
Fax: +44 (0) 1932 578 801
Email: willg@itpr.co.uk
