Why Your Customer Engagement Strategy May Be Wrong
Companies are increasingly focusing on customer engagement. Gartner research shows that 89 percent of companies compete primarily based on customer experience, yet few of them are doing it right. Instead, they overcomplicate the customer journey and do too much with too little focus.
It's possible to create an efficient, simplified customer engagement approach. Ross Andrew Paquette, founder and CEO of Maropost, says companies must keep an eye on their engagement strategy to ensure they're not repelling customers instead of attracting them. In this issue of Promotional Consultant Today, we share Paquette's insight on how you might be taking the wrong customer engagement approach and how you can turn it around.
You're being "extra." Simply put, you might be doing too much. You probably have many interactions with your customer base because you're communicating messages through a variety of channels. Paquette says it may seem like using every possible outlet will boost your chances of people engaging with your content. However, focusing on quantity is likely to lead to lines getting crossed and your communication appearing disjointed. Don't resort to the "spray and pray" method.
You have data but you don't know what to do with it. Many companies take the "more is more" approach when it comes to collecting customer data. They think that the more data they gather, the better insights they'll have into their audience's demographics, interests and behavior. This isn't always the case. Paquette says excessive data makes it difficult to create an action plan customized to engage every customer. Instead, streamline your approach to collect only the data you need and do more with what you already have.
You're analyzing the wrong metrics. While engagement and conversion rates should inform your marketing strategy, they don't address customer satisfaction. Since it costs five times more to acquire a new customer than to retain a current one, the most important metric for B2C organizations is Customer Lifetime Value (CLTV). In fact, it is the metric that should inform business decisions.
You only think about quick wins. It's exciting to see high open or click-through rates, but what do those numbers mean for your business? Customers won't remember a single great email a few days after they receive it, but they will remember their experience with your brand. Paquette encourages leaders to always strive to add value rather than focusing on immediate victories.
Your tech stack is too complicated. Paquette says that adding more platforms to your tech stack will only make your data problem more complex. Instead, look for a unified platform that integrates all the solutions you need to create campaigns, engage with customers, and collect and analyze data. Simplifying your customer engagement strategy will drive an optimal customer experience and build a group of loyal brand followers.
Don't risk annoying your customer base with an overly complex engagement strategy or simply by focusing on the wrong data. When you focus on simplifying each part of the process, you can use your customer engagement strategy to make and keep an adoring audience.
Source: Ross Andrew Paquette is the founder and CEO of Maropost, North America's fastest-growing marketing automation platform.