The recent stat claiming that consumers now swap devices up to 21 times an hour has no doubt provided brands with food for thought around how they should be framing their digital strategies to make the most of customer engagement opportunities that drive revenue. Whilst many recognise the need for a strategy, in reality, there remains a gap in how far many are delivering on their digital strategy. With consumer distractions only set to increase, what should brands be doing to ensure they are delivering stand-out engagement, striking the correct balance with the consumer and evolving with innovative developments and the ongoing shift in consumer expectations?
With a multitude of channels and devices available for consumers to be engaging with at any one time, brands must ensure the technological investment is being made to gather data on customer behaviour and preferences and plan their targeting accordingly. From here, brands will gain insight into how consumer interactions differ depending on the device being used and they can take action accordingly. Whilst it may be tempting to apply the same approach across all channels, this is a lazy, scattergun approach, which will fail to deliver the desired engagement or returns.
A consumer could be engaged with a brand’s website, mobile site, Twitter page and be in a store during the space of an hour. The brand needs to ensure each stage of the customer journey is being fully supported, consistent and encouraging the consumer towards making a purchase. At the same time, it won’t go unnoticed if no effort has been made to ensure the experience is tailored to the individual need and the device in question. Of course, brand messaging needs to be joined up, but delivering the same content across all channels will fail to maintain the required level of interaction and ultimately sales will suffer.
Additionally, they must recognise that no individual customer journey is the same. A static or rigid approach will fail to deliver the desired ROI results. Brands must demonstrate adaptability and be able to accommodate and manage the unexpected. As more brands are using promotions as an engagement technique and relationship builder, this is generating a higher number of inbound customers qualifying themselves for certain promotions. If a brand is going to see the true value of this, they must show that they are nimble enough to meet any customer need, continually evolving their approach.
Building on this, brands should invest in developing content-based reactions as a consumer switches between devices. Through capturing customer data throughout a journey, brands should ensure they are in the position to re-invest this at a later date. Not only does this demonstrate a joined up customer experience and re-establish the relationship, it should encourage a customer further along in the purchase journey. In a time poor environment, consumers don’t want to have to start the process all over again. Reminding them of previous searches will provide a short cut to the final sale. Combining this with a real time offer or incentive will help convert a hesitant consumer.
2014 is set to see a notable increase in wearable technology in the marketplace, bringing both greater opportunity and obstacles for brands. Data collection points will undergo a further boom, making it crucial for brands to have digital strategies in place now so they are ready to react accordingly and not missing a trick.
The financial services sector is leading the charge in adapting and reacting to the increasing number of customer channels. Whether it’s mobile banking, face-to-face in a branch, via a call centre advice line or online, the brands are placing the consumer in the decision-making role, so they decide how and when to interact. More importantly, they are successfully addressing the differing needs across each channel.
That said, it certainly remains a balancing act for brands. Whilst they need to be seen, heard and active to ensure they are on the customer radar, there remains a fine line; encroach too far or fail to deliver the correct targeting and the opportunity will be gone. Customer attention span is limited, and in a noisy marketplace where customers are able to choose who and when they engage, brands must invest in developing the correct approach. Expectation remains high; for a brand to see true success, the approach must be well planned, consistent and ensure it’s an enriching experience across each individual touchpoint.
The device boom isn’t showing any signs of slowing, bringing huge opportunity to the brands willing to take action and deliver standout engagement across a multi-device platform. Data-driven insights are key to enabling brands to truly standout alongside competitors as the marketplace becomes increasingly crowded. Consumer expectations are high; those that fail to strike the correct balance between providing an enriched, consistent experience without encroaching are will undoubtedly lose out to the brands that have taken time to invest and show a deeper understanding into their customers.
By Holly Mander, director of consulting at Teradata eCircle.
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