Building the case for customer engagement
23 Dec 2024, posted in Blogs
Understanding customer engagement, and the strategies you can implement to achieve your engagement objectives, is essential to your organisation thriving and succeeding.
Gallup defines customer engagement as “a customer’s rational, emotional and psychological attachment to a brand, company or product”. According to IDC, 77% of brands believe customer experience is a key competitive differentiator.
Unlocking the potential of proper customer engagement
Engaged customers pay big. Inc says that current customers spend nearly 70% more on average than those who are new to a business, while 65% of customers would repeat purchase if they have positive experiences throughout the customer journey. The impact of just a 5% increase in customer retention can generate as much as a 25% boost in profit, according to Paddle.
So, there you have it. Customer engagement can facilitate repeat business, and loyalty that boosts your bottom line.
Understanding customer needs
But, don’t oversimplify your customers. When we speak about them, we’re talking about a diverse group that have distinct needs, behaviours, and preferences. From new customers to your most loyal repeat buyers — or, from former customers to prospective customers — understanding the unique needs of each is essential in optimising engagement across the entire customer journey.
Get to know your customers like the back of your hand. Tailor your engagement strategies to meet their unique needs. Get it right, and you’ll foster deeper customer connections, boost customer satisfaction, loyalty, and more.
