Braze Unveils Results of Second Annual Customer Engagement Review
January 20 2022 - 8:30AM
Business Wire
94% of brands rated their customer engagement
practices as excellent or good
Braze (Nasdaq: BRZE), the comprehensive customer engagement
platform that powers interactions between consumers and the brands
they love, today released its second annual Customer Engagement
Review. Combining data from the Braze platform, with the results
from a global survey of 1,500+ marketing decision makers across 14
global markets, the report unveils macro trends within customer
engagement that emerged in 2021, how customer engagement has
evolved over the past year, and opportunities for improvement and
growth for 2022.
“The events of the past two years have fundamentally altered the
way customers approach brand relationships. The bar for consumer
expectations is at an all-time high,” said Bill Magnuson, Cofounder
and CEO of Braze. “For brands to rise to the occasion, they must
focus on establishing a personal connection through customer
engagement, and provide seamless communication across their
preferred channels and platforms. Companies that fail to provide
coordinated, cross-channel customer engagement strategies risk
falling behind on business outcomes and revenue goals.”
The report also breaks down findings across five different
industries—financial services, health and wellness, media and
entertainment, QSR and delivery, and retail and ecommerce—as well
as regional breakouts for APAC, EMEA and the US. Each industry and
regional breakout also features a case study from a leading Braze
customer, including Public.com, PureGym, Peacock, The Coffee Club,
Mercari, LinkAja, FREE NOW, and BEES.
Also included is the Braze’s Customer Engagement Index, a
framework assessing brands in 12 competencies across two key
axes—technology and teams—to put forward a model for best-in-class
customer engagement. Each brand is then indexed on these factors
and distributed across three maturity stages—Activate, Accelerate,
and Ace. The index revealed overall positive momentum from last
year, with many companies increasing their maturity and
sophistication across all 12 customer engagement competencies.
Notable findings include:
Continued Shift Toward Zero- and First-Party Data
Changes in the data landscape have forced brands to abandon
third-party data, and to focus on creating impactful, relevant
experiences through other means. To accommodate these changes, 96%
of brands plan to increase their marketing budgets, 42% plan to
boost how many channels they use, and 38% of companies plan to
place a heavier emphasis on zero-party and first-party data in
order to continue to target and engage audiences.
Data Management Becomes a Top Challenge
An increase in digital touchpoints provides businesses with
valuable insights, but results in companies generating even more
data as customers interact with new and varied touchpoints. While
this data is integral to meeting customers’ wants and needs, our
report found that it has become overwhelming for brands to manage,
with 32% of brands ranking collecting, integrating, and managing
data as its top concern for 2022. In fact, three of the four top
concerns for brands this year are all about data and how to
leverage it effectively.
Brand Confidence in Customer Engagement Abilities is Growing,
and it’s Paying Off
We have seen an increase in company confidence for customer
engagement, with 94% of companies ranking their customer engagement
as “excellent/good” vs. only 88% last year. There continues to be a
correlation between the level of customer engagement a brand
provides and revenue. Of the companies that ranked their customer
engagement as “excellent/good,” 98% exceeded their revenue targets.
Of those that didn’t, only 65% met their revenue goals.
To read the full review, please download the 2022 Global
Customer Engagement Review.
Methodology
The Braze Customer Engagement Survey was conducted by Wakefield
Research among 1,500 Marketing Executives in markets with a minimum
title of VP, working at B2C companies with an annual revenue of
$10m+ across 14 countries: Australia, France, Germany, Indonesia,
Japan, South Korea, Philippines, Singapore, Spain, Sweden,
Thailand, UAE/Dubai, United Kingdom and the United States. The
survey was conducted between October 27th and November 8th, 2021,
using an email invitation and an online survey.
About Braze
Braze is a leading comprehensive customer engagement platform
that powers interactions between consumers and brands they love.
With Braze, global brands can ingest and process customer data in
real time, orchestrate and optimize contextually relevant,
cross-channel marketing campaigns and continuously evolve their
customer engagement strategies. Braze has been recognized as one of
Fortune's 2021 Best Workplaces in New York, Fortune's 2021 Best
Workplace for Millennials, and 2021 UK Best Workplaces for Women by
Great Place to Work. The company is headquartered in New York with
offices in Austin, Berlin, Chicago, London, San Francisco,
Singapore, and Tokyo. Learn more at braze.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220120005115/en/
Quincy Zhai Senior Communications Manager press@braze.com
Braze (NASDAQ:BRZE)
Historical Stock Chart
From Jul 2024 to Aug 2024
Braze (NASDAQ:BRZE)
Historical Stock Chart
From Aug 2023 to Aug 2024