If your would-be clients are at all like the average shoppers surveyed by San Francisco-based MoEngage research, they will interact with your brand at least three times before committing. The insight is based on a global report looking at the behaviours and preferences of 1.3-billion consumers.
The MoEngage Global Consumer Trends Report 2023 looking at shifting consumer preferences further found the importance of personalization and omnichannel engagement is growing. Similar to other reports, they also state that price is at the forefront of consumer’s motivations for brand switching.
A look at the report to understand where clients spend their time reveals that 50 per cent of North Americans spend between two and four hours daily on their screens, apart from work, 19.2 per cent spend more than six hours each day and 28.4 per cent spend between five and six hours a day in front of a screen. There has been a 61 per cent increase in the monthly active users for banking platforms with 33.8 per cent reporting that they visit their financial institutions’ platform between two and three times each week, but they add that customer stickiness fell by almost 50 per cent in the last 12 months.
“The loyalty shake-up continues as more North American consumers reported switching to different brands in 2022 than at any time since the beginning of the pandemic,” the research firm writes. “For brands to be successful, they must identify opportunities for better customer service and tailor their offerings accordingly.”
