Representative image (iStock)Meaningful customer engagement is all about understanding changing consumer needs and catering to them in a relatable and personalized manner. While crafting a personalized and seamless customer engagement is a dynamic process, modern consumer brands have seem to found the midas touch. With the help of an insights-led, customer-centric approach, several brands have demystified the engagement process, thus busting some long standing myths which will be addressed below.
On the other hand, brands that engage with customers in siloes, haven’t adopted an omnichannel approach, and don’t provide personalized experience are losing out on repeat usage and customer loyalty. The modern customer really wants brands to proactively understand their behavior and preferences, predict and cater to their needs, and provide value up front. This can only be achieved by having an insights-led engagement approach driven by an intelligent customer engagement platform.
Now that we have covered how an insights-led approach can help brands drive meaningful engagement, let’s address some of the myths around customer engagement itself as a process:
- Myth No 1: Customer Engagement is a complex process and only a good-to-have strategy
Reality: While customer engagement definitely has a lot of aspects to consider, it is most definitely a necessity for modern consumer brands, and far from being just another good-to-have strategy. Today’s businesses have gone far ahead in this journey by putting in place an insights-led actionable engagement strategy. Brands can start by listening to customers who are communicating via online forums, posts, ratings and reviews, and accordingly cater to their needs through product offerings.
With the advent of marketing technology, brands can now develop deeper customer understanding by analyzing their movement through the purchase path and engage according to the stages they’re in. Brands need to shed their siloed communication approach and adopt an omnichannel approach and be available across all customer touchpoints irrespective of channels.
An insights-led customer engagement platform will come in handy here, providing a deeper customer understanding and actionable insights to engage better. Such platforms also help brands create customer-centric marketing strategies by segmenting customers into unique cohorts and personalizing their experiences across channels based on attributes.
- Myth 2: Getting a single customer view is tough as data is scattered
Reality: An insights-led customer data platform can create a 360-degree customer profile, giving a complete picture of each customer and their likes, dislikes, preferences, choices, affinity and browsing pattern. The effort then should be to understand what, why and where of the customer’s purchase journey and use those insights to enhance engagement. This level of customer-centricity is possible through an insights-led customer engagement strategy where marketers remove the guesswork from the exercise.
- Myth 3: Investing in an integrated system is an expensive proposition.
Reality: The build-versus-buy question is a dilemma that arises every time a business wants to add a new platform to its technology stack. While the cost factor of an intelligent customer engagement platform can’t be overlooked, neither can its necessity. Investing in an insights-led engagement platform helps brands process data and transform it into actionable insights, create a 360-degree customer profile, while complying with data governance and privacy issues.
It’s also important to note that building such a platform from the scratch (and in-house), requires a lot of time, expert and dedicated resources, while running considerable risks in case any of the functionalities break. The development team’s unfamiliarity with the technology required to build the platform can often result in increased expense. It is also well documented that the total cost of ownership of building such a platform is significantly higher owing to the maintenance work involved. Pricing is also more predictable and fixed in integrated solutions.
- Myth 4: There are other priorities to focus on rather than setting up elaborate customer engagement processes
Reality: In today’s world, there is no priority higher than building a robust and effective customer engagement framework, as most marketing goals and KPIs revolve around having a meaningful customer engagement process.
Here, the proof of the pudding is in the effective adoption of an innovative and insights-led engagement platform, examples of which can be seen across leading brands in the country. The results vouch for the fact that there’s nothing more important than providing a differentiated, relevant, and personalized customer experience.
The bottom line is that customer engagement is much more than just a minimal transactional relationship. It is about building a meaningful and value-added customer-brand connection that helps the business drive sustainable growth, add loyal advocates, and ultimately reflects in the revenue stream. If that does not excite modern businesses, then what would?
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