IBM Survey: Businesses Don't Know What Consumers Want - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

01:55 PM

IBM Survey: Businesses Don't Know What Consumers Want

More than three-quarters of companies reported marketing and promoting products without clearly understanding consumer expectations, according to the IBM report.

Seventy-nine percent of companies surveyed by IBM reported marketing and promoting products without clearly understanding consumer expectations.

IBM announced Monday that the survey, of more than 700 consumers and business leaders in North America and Europe showed less than half of retail banking consumers had experiences that exceeded their expectations.

Most consumers reported that a sense of dignity and empathy were more important than encountering friendly and informed employees, while only 17 percent of business leaders said they consider emotional factors when making consumer-related decisions.

"In-depth consumer understanding and proactive management of key interactions represent a significant opportunity for differentiation in today's fiercely competitive and price-driven marketplaces," IBM announced in a prepared statement.

The company's Global Business Services Consumer Experience Survey found 74 percent of business leaders focus on efficiency and speed rather than understanding consumer values. Companies also use inspiration and emotion for branding but often fail to deliver on those promises when interacting with customers, according to IBM.

Business leaders said they were twice as likely to prioritize improving call center operations as they were to try to predict loyalty, invest in face-to-face interactions or measure business outcomes. That means business leaders can lack insight into how consumers rate in-store service, kiosks and other interactions that can have a major impact on their experience, according to IBM.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
The State of Cloud Computing - Fall 2020
The State of Cloud Computing - Fall 2020
Download this report to compare how cloud usage and spending patterns have changed in 2020, and how respondents think they'll evolve over the next two years.
Top 10 Data and Analytics Trends for 2021
Jessica Davis, Senior Editor, Enterprise Apps,  11/13/2020
Where Cloud Spending Might Grow in 2021 and Post-Pandemic
Joao-Pierre S. Ruth, Senior Writer,  11/19/2020
The Ever-Expanding List of C-Level Technology Positions
Cynthia Harvey, Freelance Journalist, InformationWeek,  11/10/2020
Register for InformationWeek Newsletters
Current Issue
Why Chatbots Are So Popular Right Now
In this IT Trend Report, you will learn more about why chatbots are gaining traction within businesses, particularly while a pandemic is impacting the world.
White Papers
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll