How quickly marketers respond to consumer feedback greatly impacts brand performance.
According to a new report from the CMO Council, 90% of brand marketers surveyed said responsiveness and the ability to respond to needs and feedback are critical to a good customer experience. However, only 16% of these marketers feel their organizations are extremely responsive to consumers.
The study, undertaken in the second quarter of this year, investigated how organizations are faring when it comes to responding to customers and leveraging data and intelligence to deliver the right experience.
The study found that the top issues holding back marketers from speeding up their responsiveness include lack of budget to offer more frequent updates, lack of data or intelligence to make changes based on customer reactions and behaviors, separate teams for marketing and product packaging decisions, and inability for vendors to work quickly or meet expedited timelines.
According to the study, 78% of marketers are able to respond to requests within two weeks, with 43% able to respond within 24 hours. But when it comes to physical touchpoints, 77% said it can take up to 90 days to respond and react to customer feedback, suggestions or issues.
But in order to get past these challenges, marketers feel they need a cultural shift in companies so that they can execute changes faster. In fact, 60% believe a focus on the customer over product would need to take place for any progress to be made.
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"Customers fully expect for brands to engage at the speed of light—after all, it is exceptional customer experiences from brands like Amazon and Starbucks that have proven that rapid response, personalization and real-time (or near real-time) omnichannel engagements are possible at the push of a button or click of an app," said Liz Miller, senior vice president of marketing for the CMO Council.