1、retentionacquisitionchurn CLV personalization zero-party data first-party data campaign automationcustomer loyaltymarketing ROIThe Optimove 2023 Survey of B2C MarketersInsights and trends on marketing strategies and technologies impacting customer loyaltyThe Optimove 2023 Survey of B2C MarketersSour

2、ce:Optimove 2023 Survey of B2C Marketers2EXECUTIVE SUMMARYReports reveal that finding a new customer can cost five times more than retaining an existing one.In addition,selling an existing customer has a 60-70%success rate versus a 5-20%of selling a new customer.Yet,the survey results in this report

3、 show that marketers continue to allocate more budget to acquisition marketing versus retention marketing in the face of economic uncertainty.The U.S.Federal Reserve commented in March 2023 that“Consumer spending was generally seen as flat to down slightly amid continued reports of moderate price gr

4、owth.”Plus,trend results of three recent Optimove surveys show that consumers planned shopping budgets are unpredictable.In August 2022,nineteen percent(19%)of consumers planned on spending more,in February 14%,and 22%in March 2023.This survey reveals issues that could hold marketers back from shift

5、ing more budget to customer-led retention marketing.It also reveals a certain difficulty in adapting to new technologies that drive deeper connections and personalization to their consumers.Of note is that many marketers are missing a crucial core ingredient to highly effective retention marketing:e

6、xtracting the most value from first-and zero-party data.Customer-led marketing is the basis for a brand to deliver deeper personalization,equating to better retention and improved customer lifetime value(CLV).The consulting firm,McKinsey&Company,reported about customer led marketing.It noted,“On the

7、 downside,compensating for the value of one lost customer can require the acquisition of three new customers.On the upside,80 percent of the value creation achieved by the worlds most successful growth companies comes from their core businessprincipally,unlocking new revenues from existing customers

8、.”The Optimove 2023 Survey of B2C MarketersSource:Optimove 2023 Survey of B2C Marketers3Key results:1.Marketers continue to budget more for acquisition versus retention,despite uncertainty with consumer spending.2.Marketers say tactics that deliver the most bang for the buck are retention/churn prev

9、ention and increasing Customer Lifetime Value(CLV).3.Marketers responded that costs of acquisition and retention marketing are up.4.Marketers increase digital marketing spend especially for scaling personalization to improve retention.5.Quicker response time is key in deepening customer relationship

10、s.To do so,the top priority for marketers is detecting,prioritizing,and executing responses to real-time events,which delivers the highest value when optimized.6.Almost half of marketers(49%)do not have a strategy in place for collecting zero-party data,while 42%do not have strategies for first-part

11、y data.7.Respondents noted the top marketing mistakes in customer outreach that have a negative impact on the brand are the following:a)too many messages causing marketing fatigue,b)conflicting messages and promotions across different channels.8.Most marketers,eighty-eight percent(88%),increased the

12、 percentage of,or are planning to increase their automated marketing campaigns to deliver more relevant personalized messages.MethodologyThe Optimove 2023 Survey of B2C Marketers queried 221 senior level marketing executives in the second quarter of 2022.The survey was designed by Optimove and field

13、ed by Survey Monkey.Respondents included executives at companies with the following B2C models:digital-first multi-brand,wholesale manufacturers,traditional multi-brands,digital-first direct-to-consumer,and traditional direct-to-consumer retailers with brick-and-mortar outlets.Respondents included C

14、EOs,CMOs,and SVPs of marketing.The Optimove 2023 Survey of B2C MarketersSource:Optimove 2023 Survey of B2C Marketers4The results show little or no change from our 2022 results:52%allocated more than half to customer acquisition,15%allocated more than half to customer retention,and 33%said they split

15、 the budget equally.Despite uncertainty with consumer spending,marketers budget more for costly acquisition over retentionMarketers continue to budget more for acquisition versus retention,despite uncertainty with consumer spending.The results show that 54%of marketers are budgeting more for acquisi

16、tion,compared to 13%who budget more for retention.The remaining 33%split the budget evenly.Marketers budget more for acquisition vs.retention 13%33%54%0%10%20%30%40%50%60%Budget morefor acquistion5050Budget morefor retentionDETAILED FINDINGSThe Optimove 2023 Survey of B2C MarketersSource:Optimove 20

17、23 Survey of B2C Marketers5Of note is that it has been reported that finding a new customer can cost five times more than retaining an existing one.In addition,selling an existing customer has a 60-70%success rate versus a 5-20%of selling a new customer.Plus,the value of one lost customer can requir

18、e the acquisition of three new customers.And,80 percent of the value creation achieved by the worlds most successful growth companies comes from their core businessprincipally,unlocking new revenues from existing customers.Unpredictable consumer spending The results are reported as consumer spending

19、 remains flat.According to the April 10th Beige Book Report issued by the U.S.Federal Reserve,“Consumer spending was generally seen as flat to down slightly amid continued reports of moderate price growth.”Plus,trend results of three recent Optimove surveys,show that consumers planned shopping budge

20、ts are unpredictable.In August 2022,nineteen percent(19%)of consumers planned on spending more,February 14%,and 22%in March 2023.Percent of consumers who plan on spending more compared to the same time period in the previous year14%22%19%0%5%10%15%20%25%March 2023February 2023August 2022The Optimove

21、 2023 Survey of B2C MarketersSource:Optimove 2023 Survey of B2C Marketers62%0%4%6%8%10%12%14%16%Marketing tactics that will deliver the highestimpact/growth/improvement in the next 12 monthsShifting resources towards customer marketing(retention/churn-preven-tion/re-activation,etc.)Increasing custom

22、er lifetime value(CLV)Acquiring new customersIncreasing/shifting brand awareness/positioningInvesting in/upgrading marketing technology/automationImproving lead qualityAutomating more of my marketing campaignsCreating and delivering personalized customer experiencesPrioritizing data-led campaigns ov

23、er creative-led initiativesImproving post-purchase loyalty/re-purchase9%14%14%9%8%7%6%10%11%13%Best ROI Marketing TacticsRespondents say marketing tactics that deliver the most bang for the buck are 1)retention/churn prevention,and 2)focusing on customer lifetime value(CLV).The greatest percent of r

24、espondents(28%combined)did note that shifting marketing resources towards retention,customer-led marketing and increasing CLV will deliver the highest impact and growth to their companies.This compared to 13%of marketers who felt that acquiring new customers would have the most business impact.The O

25、ptimove 2023 Survey of B2C MarketersSource:Optimove 2023 Survey of B2C Marketers7How the cost of acquisition marketing changed in the past year0%5%10%15%20%25%30%35%40%Significantly increasedSlightly increasedNo changeSlightly decreasedSignificantly decreased16%40%22%14%7%I dont know1%56%increaseHow

26、 the cost of retention marketing changed in the past year0%5%10%15%20%25%30%35%Significantly increasedSlightly increasedNo changeSlightly decreasedSignificantly decreased16%32%26%16%8%I dont know2%48%increaseCosts of acquisition and retention marketing is up All marketers noted that the costs of bot

27、h acquisition marketing and retention marketing have increased in the past year.Fifty-six percent(56%)of respondents said that the budget for cost of acquisition marketing had at least slightly increased,while 48%said budgets for cost of retention marketing had at least slightly increased.This is in

28、 the face of the data that shows that finding a new customer can cost five times more than retaining an existing one.The Optimove 2023 Survey of B2C MarketersSource:Optimove 2023 Survey of B2C Marketers80%10%20%30%40%50%60%70%IncreaseNo ChangeDecreaseHow investments in marketing strategies will chan

29、ge comparing 2023 to last year 2022Source:Optimove 2023 Marketers SurveyAI-based Marketing AutomationMulti-Channel OrchestrationUnifying Customer DataScaling Personalization63%21%16%28%14%53%30%17%57%28%15%58%Marketers increase digital marketing spend,especially for scaling personalization With that

30、 said,marketers said that response time(detecting,prioritizing,and executing responses to real-time events affecting the customer relationship)delivers the highest value when opt imized.As a result,most B2C marketers are increasing investments for specific digital marketing strategies in 2023.Increa

31、sed investments are earmarked for 1)scaling personalization,2)unifying customer data,3)AI-based marketing automation and 4)multi-channel orchestration.This aligns with marketers seeking to improve retention and the need for marketers to deliver a highly personalized customer experience.Reaching/iden

32、tifying relevant customers remains a top challengeRespondents ranked the top two challenges in acquisition marketing as 1)reaching relevant customers,and 2)delivering personalized experiences to top prospects.In addition,respondents noted the top challenge in retention marketing is identifying valua

33、ble customers to invest in.The Optimove 2023 Survey of B2C MarketersSource:Optimove 2023 Survey of B2C Marketers9Percent of marketers with/without a zero-party data strategy0%5%10%15%20%25%30%35%Do not have any strategiesPartially executed strategiesPlanning to execute strategiesFully executed strat

34、egies18%31%34%17%without strategies49%withstrategies51%Executing first-and zero-party data strategies remains a challengeHaving deep real-time insights on first-and zero-party data is at the core of truly knowing the customer.Yet,almost half of marketers(49%)do not have a strategy in place for colle

35、cting zero-party data.Similarly,forty-two percent(42%)do not have strategies for first-party data.While more have some strategies in place,just 17%of respondents say they have fully executed strategies for zero-party data,and 22%for first party data.Percent of marketers with/without a first-party da

36、ta strategy0%5%10%15%20%25%30%35%40%Do not have any strategiesPlanning to execute strategiesHave fully executed strategiesHave partially executed strategieswithout strategies36%22%35%42%7%withstrategies58%The Optimove 2023 Survey of B2C MarketersSource:Optimove 2023 Survey of B2C Marketers10Too many

37、 messages causing customer marketing fatigueToo few messages to customers during a given weekConflicting messages/promotions across different channelsIrrelevant messages as part of the customers journeyDifferent messages received by customers same dayNegativeNeutralPositiveThe impact of the followin

38、g mistakes in customer outreach to your brandSource:Optimove 2023 Marketers Survey0%10%20%30%40%50%36%41%23%43%30%27%46%28%26%30%43%27%47%26%27%Lack of first-and zero-party data insights is the root cause of marketing mistakesRespondents noted the top marketing mistakes in customer outreach that hav

39、e a negative impact on the brand are the following:too many messages causing marketing fatigue,and conflicting messages and promotions across different channelsThis is supported by our 2023 Marketing Fatigue Survey that revealed that two-thirds of consumers(66%)want fewer marketing messages,and 27%f

40、eel they are bombarded by marketing messages.When asked if they would like to receive fewer marketing messages in 2023 versus 2022,73%noted they wantless.The Optimove 2023 Survey of B2C MarketersSource:Optimove 2023 Survey of B2C Marketers11Marketers awareness of possible inconsistentmessaging/cross

41、-firing campaigns and promotions0%5%10%15%20%25%30%35%40%Extremely awareVery awareSomewhat awareNot so awareNot at all aware20%39%32%7%2%91%awareDegree of worry marketers have about possible inconsistentmessaging/cross-firing campaigns and promotions0%10%20%30%40%50%Not worriedSomewhat worriedWorrie

42、dExtremely Worried16%42%24%18%Most marketers are aware that they may have inconsistent messaging to consumersAt the same time,at least 91%of marketing executives are at least somewhat aware of possible inconsistent messaging or cross-firing campaigns and promotions.84%of marketers are at least somew

43、hat worried about the possible inconsistencies-with 18%extremely worried.The Optimove 2023 Survey of B2C MarketersSource:Optimove 2023 Survey of B2C Marketers120%5%10%15%20%25%30%35%Technologies marketers plan to implement in the next yearMarketing Analytics/Multitouch AttributionMultichannel Market

44、ing HubMobile Marketing PlatformWebsite Personalization EngineSocial ListeningCustomer Data PlatformLoyalty PlatformCustomer Identity ManagementConsent and Preference ManagementPersonalization Platform21%34%32%14%13%12%9%24%28%31%Planned tech changes to improve the personal experienceMost marketers,

45、ninety-two percent(92%),are planning to,or have,increased the percentage of their automated marketing campaigns to deliver more relevant,personalized messages.The top automation technologies that marketers plan to implement in the next year include marketing analytics/multitouch attribution,mobile m

46、arketing platform,multitouch marketing hub and website personalization.The Optimove 2023 Survey of B2C MarketersSource:Optimove 2023 Survey of B2C Marketers13In addition,top technologies targeted for upgrades/replacements include the following:1)loyalty platform,2)mobile marketing platform,3)website

47、 personalization engine,and 4)marketing analytics/multitouch attribution.0%5%10%15%20%25%30%35%Technologies marketers plan to upgrade/replace in the next yearMarketing Analytics/Multitouch AttributionMultichannel Marketing HubMobile Marketing PlatformWebsite Personalization EngineSocial ListeningCus

48、tomer Data PlatformLoyalty PlatformCustomer Identity ManagementConsent and Preference ManagementPersonalization Platform13%24%30%34%10%16%11%19%25%19%The Optimove 2023 Survey of B2C MarketersSource:Optimove 2023 Survey of B2C Marketers14Conclusion:Marketers understand they must deliver a constantly

49、improving personal experience for all customers,yet many still need the core insights from first-and zero-party data.While marketers say retention marketing and focusing on increasing customer lifetime(CLV)would deliver their companies the highest impact and growth,most still budget more for acquisi

50、tion.However,customer-led retention marketing can also provide the best roadmap for acquisition marketing if brands are informed by zero-and first-party data.A company should seek new customers who match the profile of the brands most valuable customers.Retention marketing can then guide an efficien

51、t acquisition strategy.A customer-led marketing program is critical in the uncertain economic environment of consumer spending.About OptimoveOptimove is the first Customer-Led Marketing platform.Its solutions ensure that marketing always starts with the customer instead of a campaign or product.Cust

52、omer-led marketing has been proven to deliver brands an average increase of 33%in customer lifetime value.It is the only customer-led marketing platform powered by the combination of 1)rich historical,real-time,and predictive customer data,2)AI-led multichannel journey orchestration,and 3)statistically credible multitouch attribution of every marketing action.Optimove provides industry-specific and use-case solutions for hundreds of leading consumer brands including BetMGM,SodaStream,Pennsylvania Lottery,Papa Johns,and Staples.For more information go to O