CleverTap, an AI-powered customer lifecycle and user retention platform, released its Market Insights Survey report, which highlights the best tactics for boosting revenue, trends in mobile marketing, common industry pain points and strategies marketers can use to formulate their campaigns for 2021. The report also placed an emphasis on immediate buyer stickiness and how keeping buyers stimulated helps generate revenue and address buyer pain points more efficiently.
After surveying more than 150 mobile and marketing executives, the research revealed that 78% of companies are using push notifications to keep their customers and website visitors engaged, with 150 respondents citing it as their most-used channel for improving the customer experience in 2020. Along with email (65%) and in-app messages (63%), respondents are sending between one and five notifications to their customers daily.
Other key takeaways from the report include:
- 82% believe their revenue will be the same or higher than in previous years, with 60% experiencing revenue growth in 2020 as opposed to only 17% in 2019;
- 75% use customer data for campaign segmentation and personalization, while 48% struggle to glean any same-day insights from their data;
- 40% of apps report low uninstall rates with 20% less monthly churn;
- Driving long-term loyal customers (55%) and retaining current customers (51%) are the highest priorities for customer engagement strategies; and
- Only 15% of marketing leaders budget more for customer retention than acquisition.
“We marketers are no strangers to making data-driven decisions,” said Dave Dabbah, CMO of CleverTap, in a statement. “In these unpredictable times, E-commerce is being relied on more heavily than ever and the data clearly shows that marketers need solutions to reach their customers where they are in an increasingly mobile economy. From smart segmentation to push notifications, marketers will likely use their blossoming revenues to continue hedging their bets on a smartphone-ruled world.”
This story premiered on our sister site, DemandGen Report.