Acxiom has 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 revolutionised 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, eCommerce, and digital advertising, these ads streamline the path from browsing to buying, evolving with user behaviour and offering unprecedented personalisation. The report shows that 66 per cent 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 per cent) of consumers favour AI chatbots over humans for basic interactions.
- Healthy Acquisition & Retention: Pivoting to AI-powered strategies for acquiring and retaining high-value customers, brands prioritise lasting profitability over sheer growth. 73 per cent 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 revolutionise CX. Nearly half (47 per cent) of the report’s respondents engage more actively with individualised 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 per cent are willing to pay a premium for sustainable products, and 38 per cent 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—prioritising foundational analytics, scaling AI efforts, and balancing personalisation with privacy and respect are key. Our report paves the way forward for successful AI-enabled CX.”
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