{"id":27779,"date":"2022-07-25T12:51:47","date_gmt":"2022-07-25T11:51:47","guid":{"rendered":"https:\/\/www.intercom.com\/blog\/?p=27779"},"modified":"2024-01-11T17:22:29","modified_gmt":"2024-01-11T17:22:29","slug":"harvard-business-review-customer-engagement-statistics-2022","status":"publish","type":"post","link":"https:\/\/www.intercom.com\/blog\/harvard-business-review-customer-engagement-statistics-2022\/","title":{"rendered":"Effective customer engagement is business critical \u2013 insights from Harvard Business Review Analytic Services"},"content":{"rendered":"<p>Creating quality customer experiences has always been important for retaining customers. Now, during this time of economic uncertainty and against a competitive landscape, effective customer engagement is business critical.<\/p>\n<p><a href=\"https:\/\/www.intercom.com\/blog\/resources\/guides\/future-proofing-businesses-with-modern-customer-engagement?utm_source=ii-blog&amp;utm_medium=internal&amp;utm_campaign=20220725_all_wc_all_global_enus_all_solution_all_hbrcustomerengagementreport&amp;utm_content=announcement-post\" target=\"_blank\" rel=\"noopener\">New research from Harvard Business Review Analytic Services<\/a> reveals that businesses of all sizes \u2013 from small businesses to enterprises \u2013 are realizing the business value of personal, efficient customer engagement. And many are striving to provide just that.<\/p>\n<p>But they\u2019re facing big barriers. In the <a href=\"https:\/\/www.intercom.com\/blog\/resources\/guides\/future-proofing-businesses-with-modern-customer-engagement?utm_source=ii-blog&amp;utm_medium=internal&amp;utm_campaign=20220725_all_wc_all_global_enus_all_solution_all_hbrcustomerengagementreport&amp;utm_content=announcement-post\" target=\"_blank\" rel=\"noopener\">newly released report<\/a>, sponsored by Intercom, executives say that disconnected, legacy tech stacks and siloed data are slowing their teams down and preventing personalization. In addition, many don\u2019t have the strategies, talent, and culture needed to succeed. Here are a few of the report\u2019s most eye-opening insights:<\/p>\n<ul>\n<li><strong>Customer engagement is a critical value driver:<\/strong> 88% of executives agree that customer engagement has a significant impact on their organization\u2019s bottom line.<\/li>\n<li><strong>Poor cross-functional collaboration impedes success:<\/strong> 44% of executives say a lack of collaboration and siloed efforts are the top impediments to successful customer engagement.<\/li>\n<li><strong>Siloed data prevents progress:<\/strong> 32% of executives say they fail to properly distribute data-driven customer insights throughout the organization.<\/li>\n<li><strong>There\u2019s a scarcity of talent:<\/strong> Over half (56%) of executives encounter difficulty finding the right personnel to manage customer engagement efforts.<\/li>\n<\/ul>\n<p>Below, we take a deeper dive into the report\u2019s key data and trends.<\/p>\n<h2 id=\"discover-the-top-trends-transforming-customer-engagement\">Discover the top trends transforming customer engagement<\/h2>\n<p>Intercom sponsored Harvard Business Review Analytic Services to conduct a survey of 317 business leaders across a range of industries, including manufacturing, healthcare, technology, financial services, and more. The report <a href=\"https:\/\/www.intercom.com\/blog\/resources\/guides\/future-proofing-businesses-with-modern-customer-engagement?utm_source=ii-blog&amp;utm_medium=internal&amp;utm_campaign=20220725_all_wc_all_global_enus_all_solution_all_hbrcustomerengagementreport&amp;utm_content=announcement-post\" target=\"_blank\" rel=\"noopener\"><em>Future-Proofing Businesses with Modern Customer Engagement<\/em><\/a> reveals the top trends emerging in the customer engagement landscape in 2022 and beyond.<\/p>\n<blockquote class=\"pullquote-style-four\"><p>Customer engagement is defined as communicating with your customers over the course of their journey \u2013 from acquiring, onboarding, and nurturing to supporting and retaining \u2013 to help them get to the outcome they want.<\/p><\/blockquote>\n<h3>1. Effective customer engagement holds the key to customer retention and loyalty<\/h3>\n<p>In the digital age, modern customers want and demand easy, proactive, personal and efficient experiences at scale. Organizations who deliver on customer expectations can expect big business results. In fact, 88% of executives agree that customer engagement has a significant impact on their organization\u2019s bottom line.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.intercom.com\/blog\/wp-content\/uploads\/2022\/07\/HBR-Inline-1-2x-1.png\" \/><\/p>\n<p>You may be wondering, \u201cwhere do the biggest opportunities lie?\u201d One of the top benefits of creating engaging, personalized customer experiences is increased customer loyalty and retention, according to 69% of survey respondents. What\u2019s more, 40% of respondents rely on retention\/repeat purchase rates to measure or track the success of customer engagement efforts.<\/p>\n<p><strong>Takeaway:<\/strong> As Intercom\u2019s CEO Karen Peacock says: \u201cNow is the time to double down on creating an exceptional customer experience \u2013 one that\u2019s personalized, contextual, and engaging across the customer journey and doing it in a highly efficient way that saves you money.\u201d When all businesses have to fight harder to win customer loyalty, personal and efficient customer engagement can be your key competitive advantage.<\/p>\n<h3>2. Businesses strive for greater cross-functional collaboration<\/h3>\n<p>When departments fail to share information, pool resources, and share contextual data and insights, it\u2019s often the customer who pays the price with a lackluster customer experience. And ultimately, it\u2019s the business who will swallow the cost of lost customers and revenue. But getting alignment is easier said than done \u2013 44% of executives say a lack of collaboration and siloed efforts are the top impediments to successful customer engagement.<\/p>\n<blockquote class=\"pullquote-style-two\"><p>&#8220;56% of survey respondents are encouraging greater cross-functional team collaboration with the explicit aim of improving customer engagement&#8221;<\/p><\/blockquote>\n<p>In the digital age, as the lines between sales, marketing, product, and support blur, sharing information across departments becomes increasingly critical to customer engagement success across the customer journey. It\u2019s no wonder that over half (56%) of survey respondents are encouraging greater cross-functional team collaboration over the next 18 months with the explicit aim of improving customer engagement.<\/p>\n<p><strong>Takeaway:<\/strong> Functional departments, such as customer service, sales, and marketing, should work together to provide customers with a world-class, cohesive, personalized experience across the customer journey. Organizations need to ensure that any investments in technology and cross-collaboration center around a culture that values customer engagement.<\/p>\n<h3>3. Businesses lack the connected tools needed to provide personal, in-context communications<\/h3>\n<p>Tech stacks bloated with legacy systems and disjointed tools are slow, inefficient, and lack contextual data needed for personalization. Ultimately, outdated tools impede collaboration and prevent employees from engaging customers in a timely and personalized way. 32% of respondents say their organizations are failing to properly distribute data-driven customer insights throughout the organization. And 60% of executives don\u2019t feel their organization is tailoring their communications well with their current tools.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.intercom.com\/blog\/wp-content\/uploads\/2022\/07\/HBR-Inline-2-2x-1.png\" \/><\/p>\n<p>With all of these pain points and lost opportunities, it\u2019s no surprise that nearly half (48%) of respondents say they are investing in new or improved customer engagement technologies \u2013 such as customer relationship management (CRM), artificial intelligence and machine learning, and data analytics in the next 18 months.<\/p>\n<p><strong>Takeaway:<\/strong> Equipping your teams with the right connected tools that fuel personalization across the customer journey will become even more important for the year ahead as many businesses try to retain more customers with fewer resources.<\/p>\n<h3>4. There\u2019s a scarcity of customer engagement talent<\/h3>\n<p>Modern customer engagement is a newer discipline than more established, traditional functions like HR, finance, or IT. It\u2019s not surprising then that one of the key challenges companies are facing is finding suitable talent to fill critical roles \u2013 from leadership all the way to execution. Over half (56%) of respondents encounter difficulty finding the right personnel to manage customer engagement efforts.<\/p>\n<blockquote class=\"pullquote-style-one\"><p>&#8220;There is little consensus about who is primarily responsible for customer engagement&#8221;<\/p><\/blockquote>\n<p>There is also little consensus about who is primarily responsible for customer engagement, but cross-functional teams (cited by 16% of respondents) and C-level executives (cited by 16% of respondents) narrowly share the top spot for taking charge.<\/p>\n<p><strong>Takeaway:<\/strong> As keynote speaker on customer engagement and author Blake Morgan puts it, \u201cThe most successful customer engagement strategies start with buy-in from top executives, especially the CEO. C-level leaders set the tone for the entire company and showcase the importance of building strong customer relationships.\u201d Morgan goes on to say, \u201cFrom there, the actual strategy should be designed by the head of customer experience or marketing \u2013 ideally, a chief customer officer or chief experience officer.&#8221;<\/p>\n<h2 id=\"stay-ahead-of-the-customer-engagement-curve-in-2022-get-the-full-report\">Stay ahead of the customer engagement curve in 2022: Get the full report<\/h2>\n<p>These trends are just the tip of the customer engagement landscape iceberg. <a href=\"https:\/\/www.intercom.com\/blog\/resources\/guides\/future-proofing-businesses-with-modern-customer-engagement?utm_source=ii-blog&amp;utm_medium=internal&amp;utm_campaign=20220725_all_wc_all_global_enus_all_solution_all_hbrcustomerengagementreport&amp;utm_content=announcement-post\" target=\"_blank\" rel=\"noopener\">Download the full report<\/a> to get more insights on the current state of customer engagement and future-proof strategies to unlock consistent growth and efficiencies, regardless of the economic outlook.<\/p>\n<p><a href=\"https:\/\/www.intercom.com\/blog\/resources\/guides\/future-proofing-businesses-with-modern-customer-engagement?utm_source=ii-blog&amp;utm_medium=internal&amp;utm_campaign=20220725_all_wc_all_global_enus_all_solution_all_hbrcustomerengagementreport&amp;utm_content=announcement-post\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/www.intercom.com\/blog\/wp-content\/uploads\/2022\/07\/HBR-CTA-Horizontal-02.jpg\" alt=\"\" width=\"1400\" height=\"660\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>How do you future-proof your customer engagement strategy for the digital age? Dive into our new report from Harvard Business Review Analytic Services to find out.<\/p>\n","protected":false},"author":175,"featured_media":27811,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"category":[12897,3,4],"tags":[25077,25075,25076],"coauthors":[408],"class_list":["post-27779","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marketing","category-customer-support","category-news","tag-customer-engagement-data","tag-customer-engagement-report","tag-hbr-report"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Effective Customer Engagement is Business Critical: 2022 Report<\/title>\n<meta name=\"description\" content=\"How do you future-proof your customer engagement strategy? 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New research from Harvard Business Review Analytic Services reveals all.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.intercom.com\/blog\/harvard-business-review-customer-engagement-statistics-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"The Intercom Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/intercominc\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-25T11:51:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-11T17:22:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.intercom.com\/blog\/wp-content\/uploads\/2022\/07\/HBR-Blog-Hero.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1800\" \/>\n\t<meta property=\"og:image:height\" content=\"842\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Zara Burke\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZaraBurke\" \/>\n<meta name=\"twitter:site\" content=\"@intercom\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Zara Burke\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.intercom.com\\\/blog\\\/harvard-business-review-customer-engagement-statistics-2022\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.intercom.com\\\/blog\\\/harvard-business-review-customer-engagement-statistics-2022\\\/\"},\"author\":{\"name\":\"Zara Burke\",\"@id\":\"https:\\\/\\\/www.intercom.com\\\/blog\\\/#\\\/schema\\\/person\\\/cdbdb546909186f53b48893250ccfc2e\"},\"headline\":\"Effective customer engagement is business critical \u2013 insights from Harvard Business Review Analytic Services\",\"datePublished\":\"2022-07-25T11:51:47+00:00\",\"dateModified\":\"2024-01-11T17:22:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.intercom.com\\\/blog\\\/harvard-business-review-customer-engagement-statistics-2022\\\/\"},\"wordCount\":1102,\"publisher\":{\"@id\":\"https:\\\/\\\/www.intercom.com\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.intercom.com\\\/blog\\\/harvard-business-review-customer-engagement-statistics-2022\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.intercom.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/HBR-Blog-Hero.jpg\",\"keywords\":[\"customer engagement data\",\"customer engagement report\",\"HBR report\"],\"articleSection\":[\"Customer Engagement\",\"Customer Service\",\"News &amp; Updates\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.intercom.com\\\/blog\\\/harvard-business-review-customer-engagement-statistics-2022\\\/\",\"url\":\"https:\\\/\\\/www.intercom.com\\\/blog\\\/harvard-business-review-customer-engagement-statistics-2022\\\/\",\"name\":\"Effective Customer Engagement is Business Critical: 2022 Report\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.intercom.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.intercom.com\\\/blog\\\/harvard-business-review-customer-engagement-statistics-2022\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.intercom.com\\\/blog\\\/harvard-business-review-customer-engagement-statistics-2022\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.intercom.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/HBR-Blog-Hero.jpg\",\"datePublished\":\"2022-07-25T11:51:47+00:00\",\"dateModified\":\"2024-01-11T17:22:29+00:00\",\"description\":\"How do you future-proof your customer engagement strategy? 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