Are you keeping up with the changing customer landscape or are you stuck in the past, doing things the way you always have? Here are Ikano Insight’s 5 ways to tell your current customer experience and engagement strategy are behind the times:
1. You’re not using insight to better understand and serve your customers
A customer engagement or loyalty strategy should aim to encourage customers to spend more, more often, and retain them. But you need be giving customers what they want. Technology is driving the convergence of the digital and physical worlds and this provides a fantastic opportunity to start collecting more valuable customer engagement data across multiple touch points: from social media; reviews; call listening & feedback surveys as well as wider consumer trends. The data you collect should provide you with the actionable insight to understand customer patterns and behaviours.
Knowing why customers love your brand, but also why they leave you means you can create a strategy to win new customers and build loyalty. You can then anticipate needs while surprising and delighting customers by giving them what they want (or didn't even know they wanted). Showing customers you understand them is a major factor in growing loyalty and engagement with a brand.
2. Your business is operating in silos
A customer-centric approach is vital to the modern business and yet many are still operating in silos - even within the marketing team. Aligning your marketing department around the channels which they are responsible for (e.g. the digital team, the CRM team) is increasingly viewed as out-dated. It’s now time to invest in teams that focus on optimising the customer journey, interactions and experience across all of the different touch-points.
But it’s not just down to the ‘marketing team.’ Customer experience impacts on all areas of the business. From finance to customer services, it is crucial that a culture of customer-centricity is reinforced and maintained across the business. This ensures that all staff are always focused on the customer - appointing a Chief Customer Experience Officer (CCEO) who really knows what matters will mean that that your customer experience and marketing budget are spent efficiently and effectively to deliver maximum ROI.
Becoming customer-centric is vital if you want to remain an agile, customer-focused and forward-thinking business that can withstand the changing consumer landscape for years to
3. You believe customer loyalty is dead
To some, loyalty is dead. That might be because there’s a new way to describe it – does ‘customer engagement’ sound familiar? More and more brands are diversifying into new services and products, and this presents an array of choices to customers. This means it can be even more of a challenge to keep customers loyal, so it’s never been more important to invest in loyalty and customer engagement.
Data driven marketing continues to be the future. Loyalty programmes present opportunities to track customer engagement patterns and behaviours with you across multiple touch-points, and you can then refine and target your marketing efforts; for example creating relevant content that makes your brand more ‘sticky’ to the customer.
Some of our partners’ loyalty programmes have up to an 80% penetration rate. Imagine being able to recognise and understand 80% of your customers and consider the impact this could have on all areas of your business.
4. You’re not delivering a consistent customer experience
Key to providing an omni-channel experience is offering the same service regardless of device; minimising customer effort and making experiences more streamlined.
Whether a customer is on your app, on-premise, or online; your brand should look, act, and feel the same. Consumers want technology to enhance their path to purchase, and there’s no denying that there are many opportunities to connect with them and provide new and enhanced experiences. But, before you get too caught up in investing in the latest tech; think about where in the transactional process you have the best chance to influence purchasing in an easy and attractive way for your customer, while creating a seamless experience across all channels. The added bonus is that you won’t have any gaps in your data!
5. You don’t know the ROI of your marketing spend
From surveyed customers, 46 per cent admit to spending more due to a loyalty programme and we have found for some partners that for every £1 invested they get £6 return. Are you able to demonstrate the effect your marketing efforts have on profitability and your customer base?
The beauty of taking a data driven marketing approach allows you to put numbers against engagement and better spend your budgets on the channels and campaigns that work. The ability to measure performance lets you demonstrate the ROI of every pound invested.
To stay one step ahead you need to collect relevant data and apply customer insight across the business to better understand and serve your customers, by putting customer loyalty and engagement at the forefront of your agenda. Invest in delivering relevant, personal communications to deliver an omni-channel customer experience. Get this right and watch your business grow.
By Anna Lemos, Digital Executive at compnayformation247
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