Are you wondering what all the hype about “customer engagement” is? You are not alone!
We have already defined what customer engagement is in our previous blog post and also touched slightly on how it is beneficial. In this article, we are going to dive deeper and explain how customer engagement can actually benefit your business.
Retain Brand Loyal Customer Advocates
Effective and increased customer engagement helps your business meet the high expectations of your customers. It reminds your existing customers that they are valuable to your business and that you care about them. Highly engaged customers are more likely to result in good word-of-mouth marketing for your brand. Positive referrals can lead to acquiring new customers and retaining the existing ones.
Strengthen the Trust in Your Relationships
Customers allow the freely-accessible online information to influence their purchasing decisions, and are constantly on the lookout for better and even cheaper alternatives. With more customers connected to the internet, the business challenge that you have is to create the same “humane” experience online too, that you would usually offer in a brick and mortar store.
Irrespective of whether your customers often visit your physical store or not, they can be offered a personalized service experience. A well-planned customer engagement strategy can help you engage your customers using email, via chatbots and even a support portal helping you provide a consistent “humane” experience and strengthen your customers’ trust in your business. Additionally, with the right customer engagement software, you will be able to reach out to them in advance, way before they have even thought of making a purchase.
Boost Your Business Profitability
A Gallup research revealed that highly engaged customers are more profitable to your business. It stated that on an average, they boost a business’ revenue and profitability by 23%. The research also observed the following about highly engaged customers:
- In the retail banking industry they amounted to 37% more annual revenue.
- In the consumer electronics industry they make 44% more visits per year.
- The Casual Dining Restaurants have 56% more visits per month, whereas the Fast Food Restaurants saw 28 % more visits per month.
- The Hospitality industry had them spend 46% more per year.
- And, the Insurance industry had 46% of them purchase more insurance.
Yes, highly engaged customers show more loyalty and are not hesitant to recommend your brand to others.
Enhance Your Marketing Proficiency
Customer engagement is the new wave in modern marketing endeavors, such as in digital marketing. Digital marketing is all about starting real-time one-on-one conversations with potential customers and converting them into loyal customers by earning their trust. In this “I want it now!” economy, engaging customers quickly and effectively is the only way to go.
However, customers prefer using a medium of their liking to communicate with your business, and not the other way round. And, they rarely wait for you to reach them! In light of these challenges, customer engagement endeavors are now drifting towards omni-channel and real-time strategies. Keeping at par with the customer engagement wave, will only allow your business to maintain an edge over others and maintain, if not increase market share.
Create A Business Differentiation
With so many brands offering the same or similar products, customers are no longer paying attention to the product that you have to offer. They are looking for what makes you different in the crowded and saturated market. Today’s customer is gravitating more towards the experience that they have with your brand. They want to be engaged and crave for a personalized unique customer experience that they have not experienced before.
A good customer engagement strategy can allow you to provide then with information and resolve their queries in real-time creating a business differentiation that you have always wanted for your business.
Software To Assist You Master Customer Engagement
With so many potential benefits to your business, customer engagement is the next right thing to focus on. However, the journey is not going to be easy. Fret not! We have Asista to help you.
Asista is a customer engagement software that can help you create a business differentiation and offer a unique and personalized experience to your customers. Using its product suite, you can revamp the way customers’ view you brand and build long-term trust and brand loyalty.