• by Ray Schultz , Columnist, April 15, 2022

Most companies want to deliver hyper-personalized communications. But saying it and doing it are two different things, judging by a new study from customer data platform Lemnisk.  

For one thing, few companies give themselves the highest possible score in utilizing customer data. On a scale of 1-5:

• 1.1 — 13.33%
• 2.2 — 20.00% 
• 3.3 — 26.67% 
• 4.4 — 33.33% 
• 5.5 — 6.67% 

And it’s not clear that brands are investing in the necessary technology. While many firms are considering a customer data platform (CDP), few have installed one. 

• Already implemented — 7.14% 
• Doing a POC — 7.14%
• Considering — 45.86%
• Not considering — 42.86

Moreover, despite all the talk of integration, few companies store their data in the optimal location: 

• Customer data resides in siloed marketing tools — 29.41%
• Data Lake or Data Warehouse — 11.76% 
• CRM — 47.06%
• Real-time marketing database with a 360 view of your customers — 11.76%

Still, 86% seek to hyper target this year, and 80% want real-time actionable customer data. And they are devoting the following percentages of their budgets to technology and automation: 

• 25% of budget — 36% 
• 30% of budget — 18%
• 45% of budget — 18% 
• Not sure — 27%

In addition, they spend the following on customer retention: 

• 10% of budget — 13% 
• 20% of budget — 13% 
• 30% of budget — 20% 
• 50% of budget — 20% 
• Not sure — 33%

Meanwhile, most feel 1-to-1 personalization is important in their customer journeys. On a scale of 1-5:

• 1.1 — 0.00% 
• 2.2 — 0.00% 
• 3.3 — 13.33%
• 4.4 — 40% 
• 5.5 — 46.67%

And, they feel AI is important in emerging marketing technologies. Again, on a scale of 1-5:

• 1.1 — 0.00% 
• 2.2 — 6.25% 
• 3.3 — 37.50% 
• 4.4 — 18.75% 
• 5.5 — 37.50%

Lemnisk surveyed hundreds of senior marketing professionals in banking, insurance, retail, telecom and travel & hospitality, in the United States and Europe. Of those polled, they engage with customers via websites, spps, social and in-person. 

They use these channels: email, WhatsApp, push potifications, web and app banners, Facebook and Google Ads. They utilize SMS mainly to communicate loyalty and transactional information.