Optimizing customer engagement
Diane Lucero, Pluris
Our experience as marketers has trained us to think about the media cost associated with a campaign, the impact of discounting on our long-term pricing power, brand perception, and other important assets that marketers strive to protect.
Achieving exceptional results, especially in a tough market where media expenses are one of the first cuts to be made, may sound like a fairy tale. However,there are monumental gains to be realized when companies prepare themselves to engage with their consumers by reaching out.
When consumers contact an organization, whether a communications firm,financial institution, retailer or otherwise, that organization has already incurred a cost, simply by answering the phone or putting up a Web site. The challenge is how to more effectively convert those interactions into value opportunities for the consumer and the brand alike.
In order to do this, marketers need to change their perspective and let the customer history, marketplace and business objective drive the engagement at an individual level. This level of customization, aligned with the individual consumer, can be challenging to implement on a broad scale, especially while also integrating with existing infrastructure, but it must be done in order to make each customer touchpoint count.
Aligning key elements of the customer engagement model, such as channel,cycle, content, cost and competition, as well as embedding advanced analytics into the offer catalog, facilitates personalized one-on-one communication. Additionally,this approach optimizes all aspects of the offer mix, whether it is through the Web, call center, e-mail or SMS.
With an integrated process, high-volume consumer brands can increase conversion rates, identify qualified leads, improve retention and increase satisfaction levels by engaging consumers in targeted conversations. Incremental marketing cost is limited because this capability is aligned with customer interactions that are already occurring. Positive feedback across the board, from the customer service representative to the end customer receiving the targeted message,reflects the impact of this simple, yet effective, implementation.
In today's marketplace, each customer is looking to satisfy his or her own individual needs, demonstrating that they are not remaining static. Therefore, neither should a company's approach to engaging the customer.
Diane Lucero is strategic relationshipmanager at Pluris. Reach her at email@example.com.