WHAT YOU SHOULD BE DOING TO ENGAGE YOUR CUSTOMERS MORE
So we’ve done all the hard work and acquired our customer, spending potentially millions on elaborate multi-channel acquisition campaigns, the customer is ours! WRONG .
The customer has just begun the journey with your brand and business, they have taken the first step in the relationship, purchasing or engaging with you, but how many brands fall down at this moment? They deliver ill-conceived or generic communications that do nothing but push the hard fought customer
away. Done well, customer on-boarding affects consumers’ attitudes, behaviours and lifetime value.
A report by KPMG found some significant results:
- 89 per cent of consumers began doing business with a competitor following a poor experience
- A customer is four times less likely to defect to a competitor if the service-related problem is handled effectively
- A 5% reduction in the customer defection rate can increase profits up to 95%.
So often we talk to clients about these processes and we find that it’s a confused journey of back-office functions and generic marketing messages, the opposite to what’s needed to foster a positive customer experience.
A client project revealed through moving initial engagement communications by a few weeks could have a significant effect not just the immediate value of the customer but also their LTV (Life Time Value). Simply sending a postcard and relevant email at a different touchpoints increased the likelihood the customer would spend more and show more loyalty.
Customers expect to be engaged with through the channel of their choice, social teams are now often part of the customer services team, answering front line questions on products and services; highly personalised and relevant direct mail recognises the customer and their motivations; email that reflects their purchases and engagement, interacting digitally and utilising their digital footprint to drive relevance on their journey with the brand. As data insight continues to accelerate and customers use of mobile shows no abatement, we are entering a changing world where only the most insightful businesses will nurture customers successfully through on-boarding. Small fractional changes in customer engagement delivers not only reduces the reliance on acquisition but also potentially massive increases to the LTV of customers.
We don’t see data or numbers at Brand Distillery , we see customers, patterns and insight, and then we get thinking about how we can help develop your customer engagement.
For a complimentary mini workshop in 2020 on your existing customer journey, please email steve@branddistillery.agency
