|Consumers Crave Simplicity Not Engagement|
In a study of 7,000 consumers and marketing executives representing 125 consumer brands across 12 industries, CEB identified a significant disconnect between current marketing strategies, including customer engagement, and preferred consumer buying behavior. While most marketers are behaving as if the majority of consumers are open to having a relationship with their brand, CEB found only 20 percent of consumers report being open to such relationships. As a result, today's marketing tactics are making customers less loyal and resulting in lost revenue for companies.
"Our research indicates that the impact of simplifying purchase decisions for consumers is four times stronger than the favored marketing strategy of engagement and is the number one driver of likelihood to buy," said
To capture customers' attention and build loyalty, companies should invest in making the purchasing process so simple that customers' decision-making actually becomes easier. CEB's insights show a 20 percent increase in simplifying the decision-making process results in a 96 percent increase in a customer's likelihood to purchase, re-purchase or recommend a particular brand. Companies can simplify the buying process in three important ways by helping consumers:
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SOURCE Corporate Executive Board
Shannon Eckhart, Corporate Executive Board, +1-571-303-4508, email@example.com