Customer engagement has become a top priority of businesses and 2020 will be no different. As a business professional, you already know your biggest asset is your engaged customers. Customers are life and blood of business. And no business can attain growth and success without the engagement of customers.
Connecting with customers at a deeper level is one way to build trust and long-term reliability. It is worth noting, that businesses with a customer-centric approach come from a solid customer engagement strategy.
Businesses these days are using every strategy to proactively engage with their customers. But in doing so they by chance ignore the importance of customer engagement and instead continue to pitch sales to the customers. As a result, they end up losing potential leads. According to a study conducted by Deloitte, it is believed that every customer demands a different experience when making a purchase. And that ‘experience’ is the factor that differentiates a successful brand. In continuation of this report, Deloitte further adds, customers nowadays are becoming less tolerant of brands, as a matter of fact, they lack in offering a seamless and easy experience.
Why Businesses Should Pay Attention to Customer Engagement?
In today’s modern world, the e-commerce industry has become more crowded, and the focus on clicks, acquisition, and conversion is charging businesses a lot. But this focus is of no use unless businesses agree to offer freedom to customers to decide how they’ll interact with their brand. That is why it is important to get ahead and understand customer requirements and thus, provide them with exceptional and correct experience in order to keep the customer involved. A research conducted by Hall and partners shows that up to two out of three of the brand’s profits depend on effective customer engagement.
Another study conducted by Ray Wang of Constellation Research shows that companies that offer better-quality engagement upsurge cross-sell by 22%, and drive up-sell revenue from 13% to 51%. Moreover, it also increases the order sizes from 5% to 85%. This shows that the more the customer engagement a brand will get, the more profitable the business it will create.
- Let us look at some simple tips, yet effective strategies to help you keep your customers engaged.
Use Social Media
According to studies, businesses with strong omnichannel customer engagement strategies retain an average of 89% of their customers.
Getting customers engaged through the given possibilities offered by social media is the right approach. Today, it is one of the best ways to boost sales from existing customers and new ones and maintain a positive image of the brand.
Investing in social media is like investing in internet-based market-place. Because it offers the best experience to the user. Social media ensures smooth engagement in the easiest way. It helps businesses actively listen to customers and gives them the freedom to share their valuable opinions, thoughts, feedback, and recommendations, etc regarding the brand, services, and products. When a customer interacts with the brand online, he expects to get a complete and real-life experience. It is worth mentioning that brands who pay more attention to solving customer problems rather than selling a product, get the edge.
Omnichannel Platforms Are Positive
According to the PWC report, the number of companies investing in the Omni-channel experience has increased sales from 20% to more than 80%. Omni-channel provides a positive experience. As it not only helps customers socialize but also resolves instant queries. It let customers access the products and upload them without any time limit from any place, any hour. Moreover, social media sites ease users to contribute to the well of their brand by asking for their recommendations and opinions. This strategy of engaging a user motivates the customer a lot and ends up converting him into a potential buyer.
Moreover, the brands can ask from the existing customers to share their videos and pictures to their business pages or sites. This is one way to add value to the social media site. Customer’s expectations are all-time high and they feel valued and overawed when they are treated so well by a brand. This way, customers engage with a brand at a more personal level. As a result, the business gets the retention, revenue and achieves the status of the brand with a more customer-centric approach. It later advantages the brand in both the long and short run. This way, not only the brand gets organic likes but also gets organic advocates that share your product, your message and your brand to thousands of people in an incredibly short period of time.
Segmentation, Targeting, Positioning, and Planning
Segmentation, Targeting, Positioning, and Planning (STPP) are the most commonly applied marketing techniques. It is a customer-focused approach and is one of the most popular marketing models to keep the customer engaged. Marketers through the STPP approach prioritize schemes and then with the relevant message, engage with the right audience.
Business at the first stage identifies customer’s needs, understands their wants and then prepares what is demanded by them. At the very initial stage, the business studies customer’s overall behavior gathers personal data related to their demographics, geography, age, gender, etc. in order to cater to their needs more personally. After doing this, it evaluates, targets and aligns the products that fall more closely to the customer demands.
When a customer gets the exact offer and recommendation that he requires from a brand, it delights him and helps him from spending extra money and wasting time needed to make search and travel miles just to get the product of his choice. This strategy benefits both the customer and the marketer. It reduces the risk to where, when, and how to market the right product for the customers, they know where the product they need, is present.
This positioning of the offer for the particular segment of the audience offers ease and help to the customer or prospect. Grabs long-term customer retention because the customer knows where to come if he plans to make another purchase. STPP offers customers both convenience and value at the same time. Segmentation, targeting, positioning, and planning is one way to promote the brand with a wider audience and to get the re-engagement for the business.
In this digital age, new modes of communication appear on day to day basis. Like Snapchat, Facebook, Messenger, and Instagram. But Emails! Emails are going on and going strong for more than a decade. To get to any social media platform an email is a must. It should be pointed out that even if a person forgets to log on to social media for a time, he does not forget to check his email inbox. Especially if it’s a personalized email.
Personalization Attracts Customers
In order to stand out from the market and succeed in a highly competitive and agile environment, a personalized email is the best strategy. Personalized emails keep the customers engaged. According to studies, 72% of Millennials and Generation Z are willing to share their personal information to a certain degree to get personalized content in return. Personalized emails simply help customers get the information needed to make a purchase. These emails are crafted to better educate customers. They propose real-time solutions and offer them the product recommendations that fall close to their demands, needs and wants. Gathered on the basis of onsite search history a study found, personalized emails get six times more sales return than regular junk email campaigns.
It is better to spend some time figuring out the right marketing strategy by using the right tone and the right words. A study concluded, personalized emails create 4 times higher conversion rates than normal marketing tactics. Meaning, personalized emails close more online sales, the customers coming through personalized emails make a purchase 4 times more, as they know already what they are going to buy. Because a brand, through personalized email offers only those products that attract them and are according to their wants, that is why it is important for brands to adopt personalized email strategy if they want to make their customers or prospects to reach an appropriate decision.
Feedback, Review, Recommendations, and Suggestions
Tracking is one way to measure customer engagement. But what’s more effective for the businesses is getting direct opinions from the customers. It may be noted that businesses today are investing a lot in offering a great experience to the customers. As a matter of fact, they know that their business success counts on customer opinions, comments, suggestions, and feedback.
They are the best and the most cost-effective tools to measure where the business stands. Businesses look into the reports to drive results and develop strategies that meet best to their needs. A survey found that one out of three customers leaves the brand they love just because of one bad experience.
Customers Avoid Negative Experiences
Another study concluded that 92% of customers completely abandon the company that had offered them a negative experience for two-three times. Notably, companies that tend to sell rather than offering solutions with good service, end up losing potential leads. Customers now don’t expect a one-time purchase, they rather look for a company that continuously takes them.
The power of word of mouth results in 5 times more sales than the paid advertisement. Another study concluded that almost 90% of people trust and buy from the brand that is recommended by a friend. Also, when a brand not responds to the customer queries, the customers feel ignored. This is why to build a strong, solid, and positive repute of the business. It is important to follow-up each query, listen to the issues of each customer carefully and provide them with the right solution.
Engagement differentiates between a transactional connection and a more honest, personal and long-term relationship.
When a business engages a customer in meaningful communication, it creates customer trustworthiness and brand advocacy. Today, no customer wants to trade with a brand that treats a customer poorly and ignorantly.
Customer engagement is all about forming new approaches and staying in touch with the existing customer base. To boost engagement of the present modern-buyer, one should be able to listen to the customers. Because only improved experience help increases customer engagement, customer retention, customer satisfaction, and business revenue.
Starting a Conversation
Starting a conversation with the customer, prospect or user is usually easy. But building interest is a tough job! Consider adding informative, intriguing and plain industry insights, peaks, trends, and local news. Add it to your social media platform or e-commerce website. Make your audience stay on-trend. Deliver content that directly opens a virtual door for your e-commerce store. It is the easiest way for your customers to discuss, like, and share your brand.
The key here is to really listen to the responses. Provide them with appropriate actionable, practical advice and answers that your customers want to know. When a business provides something valuable to the customers it makes sure to expand the business reach.
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