As brands and CXOs gear up for a thrilling 2024, a trinity of challenges awaits them; new tech, old data policies, and unpredictable economic headwinds of a potential recession. To weather this storm, it is imperative for brands to fortify and future-proof their customer experience (CX) strategy. According to Bain & Company, 80% of brands believe they deliver ‘super experiences’, but only 8% of customers share the same opinion.   

Uniting this chasm can be an arduous yet rewarding task for brands, if done right. But how should brands proceed to take this complex step? Is it exclusively by employing new tech like generative AI? Or is it by focusing on driving transformation programs? In Merkle’s 11th annual thought leadership series, Consumer Experience Imperatives, we explore the ever-growing dynamic customer expectations and help brands keep pace with an ever-evolving marketplace. 

For brands to survive succeed and leapfrog the competition, having a holistic mix of CX imperatives will be critical. Our report highlights three imperatives that will not only give organizations a cutting edge in the marketplace, but also help them optimize their existing resources without falling prey to choice paralysis. Be it people or tech, unguided investments in either will cause brands to be stuck in a rut. Here’s a summary of what brands can do to enhance their experience strategies.  

Closing the expectation gap: As customer expectations continue to rise, brands must focus on driving transformation programs and design experiences that alleviate the gap. Customers willingly share their information with brands if they feel the value exchange is unique and yields fruitful results. 

Defining the role of Generative AI: Generative AI is well past the hype curve. Brands need to be critical before overinvesting in disruptive tech, but should keep an eye out on it as it evolves. Merkle’s proprietary AI solution, GenCX, is powered by Generative AI models and trained on the knowledge of US consumers. It helps brands connect with customers closely to better understand interactions, behaviors, and sentiment.     

The overall strategy: Brands must rethink the strategy that they want to execute around experience. Implementing personalization by leveraging the data at hand into actionable insights, using a connected cloud architecture, and identifying the value that AI brings to their business should serve as foundational steps to bolster the overarching experience strategy. 

Download Merkle’s 11th thought leadership, Consumer Experience Imperatives, and delve into actionable insights to revamp your experience strategy.  

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