Insights 2020. customer-centric

Insights2020: Facing 2020 with 20/20 Vision

During Advertising Week in New York, Millward Brown Vermeer presented the initial findings from the Insights2020-Driving Customer-Centric Growth Study.  This study was undertaken in partnership with The Advertising Research Foundation (ARF), ESOMAR, LinkedIn, Kantar, and Korn Ferry.

Insights2020 examines the drivers of customer-centricity and describes how being a customer-focused company impacts business and financial performance. The research revealed a number of striking differences between over- and under-performing organizations, and all tie back to three key dimensions of customer-centric growth: Total Experience, Customer Obsession and Insights Engine.  

Among these findings:

-74 percent of companies that over-perform on revenue growth create customer experiences based on data driven insights as opposed to only 30% of the under-performing companies.

-83 percent of revenue growth over-performers link everything the company does to its brand purpose, as opposed to only 31 percent among revenue growth under-performers.

-62 percent of over-performers leverage insights and analytics to drive consistency across all customer touch-points, only 26 percent of under-performers do.

-In 78 percent of over-performing companies, customer-centricity is fully embraced by all functions whereas this is only true in 12 percent of the under-performing companies.

-66 percent of all over-performers are working to link their disparate data sources, compared with only 33 percent of under-performing companies doing so.

-The Insights and Analytics function reports straight into the CEO in 33 percent of over-performer companies; this is true for only 13 percent of the under-performers.

This study was based on more than 325 in-depth interviews with senior marketing and insights leaders, and 10,000+ interviews with practitioners across 60 markets

These initial findings are being presented this week at the ESOMAR Annual Congress in Dublin, Ireland; as part of Advertising Week in New York with the ARF; and in Austin, TX, at The American Marketing Association (AMA) Annual Meeting.

The attached press release provides additional details about the differences between over-and under-performing organizations and the impact of customer-centricity.