Customer engagement is an integral component of any business strategy. Engaging customers is not limited to attracting them to your store, but rather involves a concerted effort to establish long-term relationships that also generate profits for your business. It is primarily due to this reason that successful customer engagement strategies employ marketing ideas that appeal to people’s emotional instincts and are able to connect with them. Remember, engagement is not about forcing your sales pitch upon your customers. It is about enabling your customers to interact with their peers and learn something of value.
Today, technology has introduced new dynamics within the marketing and customer engagement landscape. While you can always choose to adopt a DIY approach to engage with your client base, certain personalized products created by business solution firms can be of real help.
If you want to excel at one-to-one marketing as a retailer, you need to follow a three step strategy:
Step1: Collecting and culling out customer data according to the preferences of your business
Step 2: Turning data into actionable intelligence
Step 3: Developing personalized marketing products
A good marketing solution uses multiple sources to collect relevant customer data that gives a holistic picture of customer behavior and preferences. The data sets which are utilized in this kind of research may vary from the study of transaction history of customers to tracking of real-time interactions. These can be sourced from data collection tools such as IBM Tealeaf, Coremetrics, Site Analytics or Google Analytics. Also, an effective way to source customer data is through keeping a tab on engagements conducted by customers on a real-time basis via web, mobile, or point of sale.
Once the data sourcing has be achieved, the next crucial step in a successful customer engagement strategy is to turn this data into actionable intelligence. The best one-to-one solutions work by gaining real time insights into all customer interactions at individual level. This helps businesses create personalized and individualized marketing products for their target segment, and thereby enhance their customer loyalty.
Simply put, analysis of customer data helps businesses design customized offers for customers which are delivered to them at the right time, and through the right channel.
This strategy allows businesses to identify their target areas better, and thereby channel their marketing budgets to achieve maximum returns on their investments.
The final stage of a successful retail marketing strategy relates to the in-market execution. It is here that technology has generated its most potent impact. Not only has technology empowered today’s customer, it has also provided businesses with various channels through which they can approach their customers. However, in order to capitalize on the best aspects of technology, business messaging should ensure a seamless real-time interaction with any given channel. Also, it is important to understand that customers have their own preferences with regard to interactions. While some customers never open marketing emails, others might be swayed by Facebook campaigns. Whatever the medium, it is crucial to maintain real-time interactions with your customers.
Further, in order to enhance customer loyalty, it is important for you to identify gaps in customer behavior and then look for potential solutions to overcome these. You can sign up the following smart ways:
- Loyalty programs – A fully featured, flexible, scalable omnichannel loyalty program can do wonders, including:
- Speed to market – So you can implement fast and be available in all channels that are important to your customer
- Incremental profitability – Great loyalty solutions deepen member engagement and generate incremental revenue and program profitability
- Secure – Keep your members’ data secure
- Smart offers – Boost your loyalty programs and improve member engagement and generate incremental revenue and profitability.
- Individualized offers – Help you to improve customer lifetime value ensuring that promotions are optimized and executed in a brand sustainable manner, whether they are loyalty customers or not.
- Website optimization – Drive increased conversions and unlock full revenue potential.
A successful marketing strategy is one that is built on a synthesis between customer satisfaction and enhanced customer loyalty towards a particular brand or service. For retailers, this requires a concerted investment in building their customer engagement with the help of technology.