Second annual ‘State of CJO’ report from Yieldify finds that nearly 9 out of 10 marketers are now satisfied with their customer journey optimization efforts
LONDON – (OCTOBER 23, 2019) – 2019 was the year marketers finally started to master optimizing the online customer journey, according to new research* released today by Yieldify. The ‘The State of CJO’ report, now in its second year, shows a step-change from 2018: where only 62% of marketers were satisfied with their optimization of customer journeys across multiple channels last year, 88% are now happy with their achievements.
The report revealed that over half of marketers (56%) are now realizing more than half of their customer journey ambitions. This progress was reflected across multiple areas of the discipline – satisfaction with conversion rates grew from 61% in 2018 to 85% this year. Overall, customer journeys are now a near-universal priority: only 1% of marketers said they had no plans to work on them in 2020 (a drop from 15% in 2018).
The report unpacked the reasons for this change, the first of which comes from education. Marketers now have a much greater level of confidence in defining customer journey optimization (CJO) as distinct from conversion rate optimization (CRO) or personalization – 95% were confident doing so, compared to just 65% in 2018.
The second reason for this change lies in greater success with technology. In 2018, having the right tools was ranked among the top three CJO challenges facing marketers – in 2019, this dropped to fifth place, indicating ground gained in the hunt for the right stack.
Jay Radia, CEO and Founder at Yieldify, said: “Having championed customer journey optimization for a number of years, we’re excited to see the rest of the industry really cross a threshold with it this year. Customer journeys are no longer the stuff of theory and thought-leadership, but a real practice that’s core to businesses and their technology stacks – we’re excited to see who emerges as leaders of the pack in the coming year.”
The report also covered what the priorities for customer journey optimization will be in 2020. For the coming year, there’s a clear pivot from a need for technology to a need for skills, as marketers cited ‘sourcing staff with the skills required to make sense of customer journey optimization efforts’ as their top CJO challenge overall, up from fourth place in 2018. As a result, marketers plan to invest heavily in this area: 46% will train their existing team (up from 34% in 2018), and 41% will hire more specialists (up from 23%).
Despite making strides in finding the right technology stack for customer journey optimization, the report’s findings showed that investment in this area will continue next year: 49% of marketers will prioritize investment in dedicated tools and solutions. Much of this will go into marketing automation solutions, which 41% of marketers cited as a priority for improving their CJO efforts in 2020 – the biggest leap in popularity (up from 26% last year).
More information about Yieldify and today’s report can be found at yieldify.com.
*Methodology: This research was conducted by Censuswide, an independent market research consultancy, with 207 UK and US e-commerce marketers who work in retail and travel: 100 in the UK and 107 in the US. Fieldwork was carried out between 11.09.2019 – 17.09.2019. Censuswide abide by and employ members of the Market Research Society. All survey panellists are double opted in, which is in line with MRS code of conduct and ESOMAR standards.
Yieldify is a customer journey optimization company that brings personalization to the full customer journey. It combines award-winning software with a proven CJO methodology to deliver measurable results quickly and easily.
To date, Yieldify has influenced over 100 million sales through more than 200,000 journeys. It currently delivers customer journey optimization for over 1,000 leading e-commerce websites, including Domino’s Pizza, L’Oreal and Megabus. Learn more at www.yieldify.com.
Media Contact for Yieldify:
Hannah Nakano Stewart