Adobe Systems Incorporated and the Economist Intelligence Unit today announced the results of a global survey that identified customer engagement - establishing a deep connection with the customer that endures over time - as an increasingly important business mandate
According to the survey, sponsored by Adobe and conducted by the EIU, more than eight in 10 executives believe their companies lose sales each year because of failure to create engaged customers, and one in 10 estimates insufficient engagement accounts for 50 to 75 percent of lost sales.
The survey findings, which were released today in conjunction with Adobe's annual financial analyst meeting, appear in a report titled Beyond Loyalty: Meeting the Challenge of Customer Engagement. The report notes that while most executives believe that the ability to engage customers is increasingly critical to business success, few think their companies are doing it well, and executives believe this failure has an impact on the bottom line. They also view technology as having an increasingly vital role in their customer engagement strategies.
"Executives are increasingly finding that the winning differentiator is no longer product or price, but the level of customer engagement relative to the competition,"Â said Rama Ramaswami, senior editor of the EIU. "Companies see there is a competitive advantage in going beyond traditional customer loyalty programs to create engaged customers."Â
The survey questioned business executives worldwide about the level of engagement they believe their company has achieved with customers, the tactics used to cultivate it, and the key strategies and tools for achieving even deeper levels of engagement in the future.
"This survey reinforces what we have believed for a long time - the secret to success isn't just about gathering or churning data, it's about how you connect with customers through the medium of their choice,"Â said Adobe CEO Bruce Chizen. "Customers now demand information and interaction anytime, anywhere and through any medium. We deliver engagement-enhancement solutions that not only enable companies to create, manage and deliver information more powerfully, but also help them forge strong connections with their customers"Â - Adobe.
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