CONWAY, Ark.--(BUSINESS WIRE)--Acxiom®, the customer intelligence company, today released its annual trends report, "Where AI and Marketing Collide." The quantitative research reveals the transformative impact of artificial intelligence (AI) on the customer experience (CX) and offers a strategic guide for brands seeking AI-powered marketing success.
Commissioned by Acxiom and conducted with global research and consultancy firm MTM, the study draws on feedback from 200 businesses and insights from 2,000 consumers across the US and UK.
Tate Olinghouse, Chief Revenue Officer at Acxiom, notes, “This year, AI has revolutionized brand-customer engagement. Our report dives into the emerging trends for 2024, providing perspectives from both brands and consumers on how AI will further elevate the customer experience in the year ahead.”
The Five CX Trends to Watch in 2024:
- Shoppable Ads: Leveraging AI, e-commerce, and digital advertising, these ads streamline the path from browsing to buying, evolving with user behavior and offering unprecedented personalization. The report shows that 66% of consumers value the convenience of discovering products relevant to their interests.
- Proactive Customer Service: Embracing conversational and generative AI, this new era of customer service leverages digital self-service and improved agent support, ensuring a frictionless and seamless CX. Notably, the study highlights that over one third (35%) of consumers favor AI chatbots over humans for basic interactions.
- Healthy Acquisition & Retention: Pivoting to AI-powered strategies for acquiring and retaining high-value customers, brands prioritize lasting profitability over sheer growth. 73% of customers surveyed remain loyal to brands that offer tailored, meaningful experiences.
- Predictive Personalization: Using AI to intuitively anticipate and address customers' wants and needs, brands are set to revolutionize CX. Nearly half (47%) of the report's respondents engage more actively with individualized content and offers.
- Sustainable CX: Catering to eco-conscious and socially aware consumers, AI empowers brands to align business objectives with consumer values. The study found that 44% are willing to pay a premium for sustainable products, and 38% weigh a brand's social impact before purchasing.
Chad Engelgau, Acxiom's CEO, adds, "2023 brought AI breakthroughs like OpenAI’s ChatGPT, reshaping how we approach CX. Yet, it's crucial to note that AI's brilliance shines brightest when grounded on accurate, ethically sourced data. For brands to thrive using this advanced technology, a robust customer intelligence strategy is essential—prioritizing foundational analytics, scaling AI efforts, and balancing personalization with privacy and respect are key. Our report paves the way forward for successful AI-enabled CX."
Explore the complete findings and trends in the full report here.
Acxiom partners with the world's leading brands to create customer intelligence, enabling data-driven marketing experiences that generate value for people and for brands. The experts in identity, the ethical use of data, cloud-first customer data management, and analytics solutions, Acxiom makes the complex marketing ecosystem work, applying customer intelligence wherever brands and customers meet. By helping brands genuinely understand people, Acxiom enables experiences so relevant and respectful, people are willing to explore new brands and stay loyal to those they love. For more than 50 years, Acxiom has improved clients' customer acquisition, growth, and retention. With locations in the US, UK, China, Mexico, Poland, and Germany, Acxiom is a registered trademark of Acxiom LLC and is part of The Interpublic Group of Companies, Inc. (IPG). For more information, visit Acxiom.com.