The benefits of aligning your business around the customer engagement life cycle
Your customers are engaging with you in every possible way — through social media, by email, in person, and even through online reviews. But just because a customer is trying to interact with you doesn’t mean you’re connecting with her in the way she'd prefer. For example, while over 50% of customers expect companies to reply to their online reviews within a week, most say that a company has never reached back out to them.
To truly understand where your customers are trying to reach you, you need a customer-first philosophy in place at your business. But to even get there, you need to understand the customer engagement life cycle.
The customer engagement cycle
Knowing the customer engagement cycle will help you remove departmental barriers in your company, create strategies for your employees to communicate directly with customers, and produce processes that will automate customer interactions where necessary to keep your five-star reviews coming.
The cycle itself describes the four major touchpoints your company will have with leads and customers. The first stage of the life cycle is marketing. Marketing is typically a company’s first engagement with leads, helping them learn more about whether your brand is a match for them. After that, the sales team takes over the relationship to close the deal.
The third portion of the life cycle is delivery, as customers expect to be fully informed of their product’s or service’s actual arrival. After delivery — and the final part of the cycle — your support team steps in to ensure customer satisfaction. Support is an important aspect of the customer engagement life cycle, as it directly affects the customer experience.
Three benefits of a customer-centric culture
As a marketer, you know it’s important to be customer-centric. But to encourage your company to shift its entire culture, you need to show how it will affect the bottom line. To start, Adobe's "2018 Digital Trends" report discovered that when companies undergo a digital transformation, 84% see increased revenue. Here are three more benefits:
- Stronger customer relationships: A customer who is fully invested in your company and actively communicating with you represents a 23% premium over the standard customer when you factor in profit, income, and growth. Adjust your communications and use analytics to better comprehend and predict a lead’s intent throughout the engagement journey. As a result, you’ll be able to develop more tailored interactions with your customers to meet their wants and needs
- Additional opportunities for upsells and revenue growth: Customers who come back to you spend 67% more than brand-new clientsYou should update your lead-routing processes, learn more about your customers’ habits, and permit salespeople to continue the conversation once you’ve transferred a lead their way. This will allow your team to concentrate on selling rather than start from scratch. With a returning customer, you’ll already have the data that shows what she has purchased, when she has interacted with your company and with whom, and how to help her progress through the sales funnel
- Efficient and straightforward procedures: More than 50% of your team’s time is wasted fishing through data to find information that happens to be stored in multiple locations. But with the right AI-driven customer engagement platform for your team, employees can simply dive into the right channels to quickly find the information they need and the best ways to communicate based on that customer’s preferences.
You know how important customer communication and engagement is — after all, you tailor the messaging that brings them your company’s site to begin with. Use these benefits to help your company understand the importance of shifting to a customer-centric culture, and watch as your business starts to create stronger, lasting customer relationships.
Find out more about Digital Marketing World Forum (#DMWF) Europe, London, North America, and Singapore.
- » Consumers are understanding the risks of social media addiction – but taking the next step is hard
- » A pertinent question: Do we put convenience before ethics when it comes to brand loyalty?
- » Emerging martech implementation: From AI to blockchain – augment not alter the customer experience
- » How digital asset management takes immersive marketing strategies to the next level
- » How the concept of ‘unified commerce’ helps retailers avoid the pitfalls of omnichannel