3 Key Foundations for Optimising Customer Engagement
By Mirriam Mathebula – Senior Segment Manager Youth Product Owner : Unlocked.me at Nedbank
More and more customers expect companies to exceed their expectations and predict their next need. This can only be possible if companies know enough about their customers.
How is it possible to do all this using data?
“88% of marketers surveyed by Forbes use data obtained by third parties to enhance their understanding of each customer. In the same study by Forbes, 66% of marketing data is used to better focus on targeting offers, messages and content”
Organisations should have enough data to get a thorough understanding of customer behaviour.
- A bank should know what, where and when a client shops based on their card’s transactions.
- Telecommunication companies should not only know the amount of data their client uses but should also be able to determine the context and to a large extent what it’s used for. Frequently dialed numbers should infer some relationship and provide deeper, great insights.
- Vehicle tracking companies should be able to determine frequently visited areas and possibly offer relevant offers based on location data.
If companies have all this data why is personalisation, customer service and increasing customer engagement such a challenge for most organisations?
The truth is most companies do not use the data assets that are available to them effectively. There’s no doubt that engaged customers have a direct positive impact on the bottom line. Research proves that companies who have successfully optimised customer engagement have followed the below 3 principles:
1.Create Trust Before Selling – Meeting customers at their point of need is critical. A major bank in South Africa was looking to increase their share of the youth market. However, the significant levels of youth unemployment presented a challenge. The bank would soon struggle to serve this market segment in a profitable manner. The solution was to first meet the current need – facilitate employment through an online portal that is purpose built for the youth of South Africa. It was the insight that if the bank wanted to bank the generation, they first needed to create a bankable generation. Even on a personal level, if I can trust you with my most important need, I can trust you with the next best thing that you offer me.
2. Omnichannel Conversation – Quick, easy and convenient is what customers want when buying from you or engaging with your brand. However, this does not only apply to digital channels. While chatting to a bot may sometimes feel ‘real’, often people want to speak to people, over the phone or face to face. A consumer’s choice of one channel over the other is determined by the perceived complexity of the conversation or risk associated with the activity that they want to perform. An omni-channel strategy should always be centered around – providing options, flexibility and most importantly continuity through integration.
3. Frontline First – While strategy is the job of top management, it certainly does not end there. Strategy is bound to fail if it starts and ends with head office colleagues who sit around boardrooms all day. If your support teams and front line staff are not engaged and equipped to deliver your key message and the desired customer experience objectives, then you are less likely to reach your customers – never mind achieving optimal customer engagement levels. Your biggest ambassadors are your front liners; invest in change management, ambassadorship and co-ownership from within.
All we need for us to achieve our goals is within and around us. The challenge is to realise that and diligently act on it. Start with what you have. Start with what you know.