Customer Engagement

"Interaction across channels is encouraged and required to drive the optimal #customer #journeys and #experiences. These are not achieved by good intentions; they are achieved by design. To achieve the optimal #omnichannel customer experience, employ customer journey maps and approaches that place the customer in the center of your customer experience design (e.g., design thinking, #VOC programs) or in other words: Have the customer's experience built into each step in the process. Metrics now include the following:

• Customer repeat purchases
• Customer retention
• Customer satisfaction"

As we move toward a mobile first experience, make sure to give your customers a voice on your mobile platform, deliver ongoing engagement along with a rewarding customer experience.

For some, self-service is the best form of service available. No fuss, 24/7 and data driven.. 

As @BrianSolis rightfully points out:

"The customer landscape is shifting. It always does. This time, however, the door to Digital Darwinism has been kicked off its hinges. #Technology and society are evolving faster than the ability to adapt. Consumers are becoming more connected. As such, they’re more informed. With information comes empowerment. And with new found connectedness and power, customer expectations begin to shatter current sales, #marketing, and support models.

#Social, #mobile, and real-time each contribute to a new reality for #customer #experiences and #engagement."

Will your company be ready for the customer of tomorrow?

Excellent book from Solis... #innovateorDie

Then vs Now: Funnel Marketing vs The Consumer Decision Journey

Now it's about Lifetime connection.

Do you agree that successful brands need to create a two-sided conversation with consumers rather than a one-way "push" through the funnel?

"Customer retention is paramount to acquisition!"

Do you agree?

What are you doing to build and nurture your current customer relationships? 

Annette shares valuable facts:

1) A 5% reduction in the customer defection rate can increase profits by 25-95%. -Bain & Co/HBR

2) A 2% increase in customer retention has the same effect as decreasing costs by 10%. -Emmet and Mark Murphy

3) The probability of selling to an existing customer is 60-70%. The probability of selling to a new prospect is 5-20%. -Marketing Metric

4) Customer profitability tends to increase over the life of a retained customer. -Emmet and Mark Murphy

5) 55% of current marketing budget is spent is on new customer acquisition and only 12% on customer retention. -McKinsey

6) It is 6 to 7 times more expensive to acquire new customers than it is to keep a current one. -White House Office of Consumer Affairs

7) A 10% increase in customer retention levels result in a 30% increase in the value of the company. -Bain & Co

8) Most important marketing objectives? 29.9% think it should be customer acquisition, and 26.6% think it is customer retention; however, 62.2% admit that they concentrate on customer acquisition, with only 20.6% focusing on customer retention. –Emarketer

9) 80% of your future profits will come from just 20% of your existing customers. -Gartner

10) A 10% increase in customer retention yields a 30% increase in the value of the company. -Bain & Co

11) Repeat customers spend 33% more compared to new customers. -Laura Lake

"While #technology alone can’t produce great #marketing, great marketing today depends on the strategic use of technology and #data to uncover even the tiniest customer insight or opportunity to make deeper connections and add value."

Do you agree?

As you identify your customer journey, implement solutions at every touchpoint, learn and adapt, you can then focus on delighting your customers every chance you are given.