Isobar study hones in on ‘Creative Experience’ as the new CX
- One in five global CMOs have completely changed their CX approach due to Covid-19.
- 41 per cent of Australian CMOs are investing in innovation to diversify their business.
- While Artificial Intelligence is the most widely adopted technology by marketing teams globally, over half of Aussie CMOs are not adopting emerging technologies yet.
- 36 per cent of global CMOs have shifted budgets towards Direct-to-Consumer approaches.
- Eight in ten (84%) Australian CMOs are focusing on personalisation in their CX strategies.
7 October 2020: Isobar’s 2020 Customer Experience Study has found a rise of ‘Creative Experience’ in response to Covid-19 – a new approach to customer experience focused on building brand differentiation through engineering and technology.
The study of 1,350 Chief Marketing Officers (CMOs) across 12 markets found 64 per cent of marketing teams have ‘completely or moderately’ changed their customer experience (CX) strategy during 2020. One in three CMOs working in the tech sector have completely changed their approach.
Of those who have pivoted, 39 per cent have placed greater emphasis on commerce and 36 per cent have implemented a Direct-to-Consumer approach. Over half (58%) of CMOs identified the innovative use of technology as a key ingredient for building a differentiated customer experience.
While AI, Voice, Chat, Gesture, Augmented Reality and Spatial Computing are high on the list of emerging technologies global marketers are considering adopting, the study found machine learning and AI is the most widely adopted technology by marketers today; 52 per cent of CMOs from larger global companies are already investing in AI for future use.
However, the results show Australian marketers are thinking differently. Despite 84 per cent of Aussie CMOs prioritising personalisation as part of their CX strategy, only 18 per cent are currently using AI, and 50 per cent say they are not considering using emerging technologies to deliver better customer experiences.
Erik Hallander, CEO of Isobar ANZ, commented: “While innovation has accelerated this year, relentless efficiency has created a sea of sameness. In a one-click (or no click) world, brands risk becoming increasingly indistinct – and increasingly invisible.
“To combat these challenges, businesses need to think differently about their CX strategies and develop a strong creative experience that connects, engages and drives meaningful change with their customers.
“Creative experiences are those made possible by technology, made personal through data, and made powerful by having a big, organising idea.
“The role CMOs play has evolved from being a brand custodian to taking a more active role in product development, experience design and digital transformation. Investments in technology and areas such as eCommerce are not only a vital route to market, but a critical source of real-time intelligence to help meet customer demands.
“Alongside creative ideation, more CMOs are turning to their agency partners for innovation capabilities and the ability to create new products to support their CX strategies. We have been working with some great clients who are challenging the status quo and thinking differently in response to the challenges Covid has thrown their way.
“A great example is ‘Swintopia’, a project we recently helped bring to life for Swinburne University – gamifying and making a virtual open day experience to engage with prospective students,” said Hallander.
To help businesses and brands accelerate their Creative Experience strategy, the study has found four key areas for marketing teams to focus on:
1. Change: Accelerate innovation and embrace transformative technology to help to turn promises into reality for customers.
2. Commerce: Embrace ideas-led commerce by delivering consistent, distinctive experiences across every touchpoint, on and offline, owned or third party.
3. Content: Deliver content that demonstrates authenticity and relevance to consumers
4. Culture: Align brand beliefs and behaviours even more closely, ensuring that what’s happening inside the business aligns with the cultural shifts externally, and with the needs and values of employees.
To download a full copy of the 2020 Customer Experience Study, visit here.
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About the Isobar Creative Experience 2020 Survey:
Isobar’s CX Survey spoke to 1,350+ CMOS (72% ‘ultimate decision-maker’, 28% ‘part of a senior team’ from across twelve markets: Australia, Brazil, China, France, Germany, India, Italy, Japan, Russia, Spain, the United Kingdom and the United States. 37% of respondents represented a “Large” organisation constituted a company size of 1,001-5,000; 22% represented “Medium” of 251 - 1000; 4% represented “Small” of 0-250.
We are a global digital agency transforming businesses and brands through the creative use of digital. Our 6,500 digital experts in 85 locations across 45 markets in Americas, EMEA and APAC deliver experience-led transformation, powered by creativity through our end to end service offering. Isobar’s clients include Adidas, Coca-Cola, Enterprise, KFC, Nestle and Philips, Shiseido and is part of Dentsu Aegis Network, a wholly owned subsidiary of Dentsu Inc. www.isobar.com