Braze, the customer engagement software platform provider, recently released their third annual Global Customer Engagement Review. The research, by surveying 1,500 marketing executives across 14 markets, aimed to uncover the most prevalent trends in customer engagement over the past year. At a topline level, what they found is that while customer acquisition costs have soared, cost-conscious consumers are faced with more choices than ever in a volatile environment.
As a result, many companies are focused on and investing in defending their base.
Specifically, their research found that:
The number of companies that are investing the majority of their marketing budget in customer retention as