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NEWS15 June 2015

Marketers ‘should use data to build trust with customers’

News North America

US — A new report from EY and Forbes Insights has revealed that 87% of CMOs recognise the need to embrace data to build credibility with their customers.

The report, Building Trusted Relationships Through Analytics and Experience, is based on a survey of 301 US executives across a number of functions and a range of industries.

It revealed that 91% of CMOs felt that building trusted customer relationships was a significant focus of their departments’ strategic and competitive vision, while 87% said that their strategic vision included the customer experience, and that they recognised “the need to embrace the latest data and analytics technologies in order to build credibility and long-term relationships with customers”.

81% of CMOs said that over the next two years, data and analytics would be an important tool with which to build and measure trust, and 73% said they use analytics to check if the brand promise is being kept throughout the customer’s interaction with the company.

Around half ( 51%) of executives said they believed there was a significant opportunity in the use of analytics for customer insight and in expanding the use of external data sources, while 37% said they currently had the capability to use analytics to tailor communications and outreach to the customer.