New Twilio Study Points to Lack of Customer Data as Major Obstacle to Reaping AI Rewards - Seite 2

AI bridges the disconnect between brands and customers, but activating data remains a challenge

The report uncovered a wide customer experience gap: 84% of businesses say they provide ‘good’ or ‘excellent’ customer engagement, yet only 54% of consumers agree.

The report found AI is helping businesses close this gap and improve their customer engagement. For example, seven in 10 companies already leverage AI to personalize content and marketing. As a result, these forward-thinking brands are realizing a number of benefits, including higher customer satisfaction scores (45% of companies), better data-driven decision-making (41%) and improved market segmentation and targeting (41%).

Although more businesses are embracing AI, the majority struggle to activate customer data. Only 16% of brands strongly agree that they have the data they need to understand their customers, and just 19% of businesses strongly agree they have a comprehensive profile of their customers.

AI-driven personalization boosts the bottom line

When companies embrace AI-powered personalization, consumers reward them by spending an average of 54% more with them compared to brands that do not. Additionally, 55% are willing to spend more money for a customized experience, while 48% say they’ve made a repeat purchase from a company based on the level of personalization they received.

Consumers expect brands to deliver highly individualized experiences and have little patience for those that don’t: 64% of consumers surveyed would quit a brand if their experiences aren’t personalized, while 31% say it’s pushed them to purchase from a different brand entirely.

That is especially true among younger generations: Almost seven in 10 Gen Zers and Millennials would stop using a brand that doesn’t deliver personalized experiences on their preferred channels. Additionally, more than one-third of them will abandon a brand that doesn’t engage with them directly in real-time.

The full 2024 State of Customer Engagement Report is available here.

Report Methodology

Twilio’s State of Customer Engagement Report is based on a survey of more than 4,750 B2C executives in key sectors and a parallel survey of over 6,300 consumers in 18 different countries. It also incorporates data from Twilio’s Customer Engagement Platform.

About Twilio

Today's leading companies trust Twilio's Customer Engagement Platform (CEP) to build direct, personalized relationships with their customers everywhere in the world. Twilio enables companies to use communications and data to add intelligence and security to every step of the customer journey, from sales to marketing to growth, customer service and many more engagement use cases in a flexible, programmatic way. Across 180 countries, millions of developers and hundreds of thousands of businesses use Twilio to create magical experiences for their customers. For more information about Twilio (NYSE: TWLO), visit: www.twilio.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240409112175/en/

The Twilio (A) Stock at the time of publication of the news with a raise of +0,07 % to 56,47EUR on Tradegate stock exchange (09. April 2024, 13:32 Uhr).