2023 Digital Trends — Media & Entertainment in Focus
This year, media and entertainment brands are giving customer retention top billing.
Based on extensive global research, 2023 Digital Trends — Media and Entertainment in Focus shares how media and entertainment (M&E) companies are inspiring loyalty and driving growth by delivering hyper-personalized customer experiences.
For media and entertainment brands, the focus is on creating customer experiences that go the extra mile.
Changing economic conditions and consumer expectations have made customer retention harder than ever for M&E brands. To secure customer loyalty and reduce turnover, organizations are prioritizing innovative, personalized experiences fueled by data insights and human creativity.
Our annual research with Econsultancy uncovers key findings, including:
- 83% of M&E brands expect to develop and launch new products or services to minimize customer turnover.
- 55% of M&E marketing and CX professionals feel innovation in content and delivery will lead customer engagement and retention.
- Although customer value leads M&E priorities, just 13% of brands feel their experiences surprise and delight.