User Experience: Reimagining Productivity and Business Value
Over the past few decades, software developers have focused on features, scalability and robustness for their deliverables. Little emphasis was put on user experience at the workplace. These same professionals who used these cumbersome internal applications had the benefit of using cutting-edge, easy to use applications form Google or Amazon at home and demanded similar ease at work. CIOs across the board are thus now investing greater amounts into perfecting the UX at offices. Some improvements have already taken place in that regard as evidenced by Fisker Automotive’s use of mobile phones to track orders, resulting in a dramatic reduction in errors reported. At Dunn-Edwards, more simple-to-use products are being developed such as their new CRM. To manage human resources, the Walt Disney Co. embarked on a journey to provide personalized access to employees at their offices. The access is now mobile-friendly, globally common though locally modifiable, simple to use and a one-stop solution. Offshore logistics firm Greatship is using data to elicit real-time business intelligence that has increased resolution of IT related issues by a third. Overall, this focus on UX has led to improved talent retention, greater degree of satisfaction among employees, enhanced internal collaboration and a resultant better performance.
The engaging attraction of Engagement Marketing
Engagement marketing is set to veer towards its next stage. It is pertinent that marketers develop user personas on their customer base as that will enable them to pinpoint their digital marketing efforts towards the right target using right channel. Buyers typically go through three stages. First of all, they identify the problems they have. Then they flip between the broad kinds of solutions possible. Finally, the buyer chooses between the alternate solutions to the given problem. In engagement marketing, prospects and buyers are apprised of solutions through specific content. Marketers use extensive bits of data, analyst reports and industry specific benchmarks. Some adjustments however are needed to the present approach. As a thumb rule all its proponents must speak the same language and not differ excessively in opinions. Also the content, collaterals and campaign itself must be designed around customer needs and not solutions that are readily available. Companies need to shed their selling personality as that can lead to short-term thinking and instead try to develop long term relationships with various stakeholders.
50 Important Customer Experience Stats for Business Leaders
Customer experience is one of the hotly contested battlegrounds among service centric organizations. Some important statistics related to the same have been collated together that are relevant for all business leaders. More than half the customers polled confessed to be ready to pay more for a good experience. Even more so up to eighty six percent of them confirmed the desire to pay more for any upgraded experience. This is particularly true for air travel and tourism sectors. A similar percentage feels at odds when the concerned agent does not possess the relevant information. In the age of digital marketing, each experience gets multiplied when customers share their experiences. Nearly three-fourths of consumers share their positive experiences. Not all those unsatisfied complain, many simply leave the brand. Two-thirds of companies manage to cross-sell or up-sell to existing customers. This figure comes down to a mere twelve percent when it comes to new customers. Three-fourths of brands aren’t even aware what exactly engagement refers to. Also two-thirds of those who have switched from their older brands, have done so due to poor service received and a similar figure is preventable if nipped at the bud. A large percentage up to eighty five percent of customer churn takes place due to preventable factors. As customers are always hungry for the relevant information, more than half of them want to right answer but two-thirds of them do not trust the same bandied out. In fact nearly half have even confirmed to have received the wrong information. Social media shows dismal figures as well with more than half customer service requests not even acknowledged by the brand and another nearly three-fourths feedback incomplete. About six-sevenths of social media service interactions get passed on to other channels. A shocking two-thirds of them are sent back to point of origin.
Your Business is going to depend on connected Spenders, so you’d better understand who they Are
Companies that are consumer-facing are going through several existential changes right now. The global middle class is shrinking and growth rates have slowed down even in the emerging markets. In such a scenario, it makes particular sense to take care of the “connected spenders”. These connected spenders are those who display certain features such as having constant access to the internet. They possess significant sums of discretionary income that they are willing to spend. Whenever they can afford, they are ready to purchase premium goods. Such connected spenders are also followers of cutting edge consumer trends. They are usually urban dwellers, though the percentage rises to an even higher figure of ninety percent in emerging markets. Certain categories such as travel, electronic gadgets and dining out see them on top of the spending pile. Companies must realize that only three developed economies- USA, Japan and Germany- will be among the top ten of connected spender numbers in less than a decade’s time. Newer markets will emerge such as Nigeria, Indonesia and Pakistan. Companies must be able to tap into these new markets while continuing to woo customers in mature economies. This segment is digitally oriented thus online forms are best methods. Thus e-commerce must be eased up to make it more convenient for this group. Shopping experiences must be designed in such a way as to be relevant to the particular market. In China for example, among the younger people smartphone possession is universal so digital marketing has proven to be the most successful method of advertising. More traditional forms of the same are being adopted in Nigeria. Companies must also display agility in reaching out the last mile to the customer.
Unlock the Key to Customer Engagement with Virtual Reality
The psychological or emotional attachment to any product or brand can be termed as customer engagement. It is essential for the growth of any business, but it has recently been learnt to be get enhanced using the tool of Virtual Reality (VR). Positive feelings can be created which further impacts on engagement that further boosts the final sales. In fact, research has confirmed, that engaged customers one average spend three-fifths more per transaction and shop ninety percent more frequently. VR enables personalized content. This is because purchase experiences get tracked using data based analytics to provide company with authentic business intelligence. Within this field it is Enterprise VR that is emerging as the star at engagement applications. Social VR meanwhile uses 3D technology to empower customers. Traditional communication media are all technology-mediated. Social VR on the other hand can replicate physical presence using webcam.
How to find your most Valuable Customers
A study by professors from the Wharton Business School have developed a new concept called Customer Lifetime Value (CLV) which This theory states that new customer acquisition is complicated, depends on several factors and is expensive. However, retaining customers can bring tremendous value. Instead of trying to retain them simply by providing good service and benefits, CLV looks at predicting their future requirements so that relevant products may be offered to them. Data is collected on past trends to be subsequently analyzed. This provides the retailers with substantive business intelligence to build predictive analytics models on. A lot of marketers have been found to be guilty of falling in to the trap of stereotyping their customers instead of assigning quantifiable values. Zodiac has developed such an algorithm to help predict customer moves in the future. A software platform was developed for this to study customer transactions of the past. For this to succeed, goal alignment with the finance team is necessary. Different industries such as retail, entertainment, travel and pharmacy can tap in to this tool as requirements are similar.
Location-based Marketing can spark Customer Engagement in a big Way
Location based marketing is taking off in a big and innovative manner. Either in-store internet network or an app on the smartphone can track the location of an existing customer or one in the data base to send him/her product information. For this, vast quantity of data warehousing is necessary so that specific content can be sent at the right time and place. Existing trends may also be leveraged as Starbucks has done by tying up with Pokémon Go to deliver an all-round Augmented Reality offering. Subway meanwhile has established a system of providing free Wi-Fi in all its stores in Northern Ontario from where customers can access all kinds of information. A fourth of Target stores and six percent of Wal-Mart ones have established Bluetooth Beacons to track potential customers within a certain geographical range.
Customer Engagement: What separates good from Great Advertising
What separates great advertising from the merely good ones, is the level of customer engagement. An example of such engaging advertising campaigns is that of Renault in the 1960s which asked customers to spot scratches on its car to avail of a fee waiver. Similarly, Coca-Cola engaged audiences to sign along a popular song. In modern times, certain methods have been identified to best execute such engagement. First of all question and answers rounds may be posed to customers on social media. This elicits real time feedback as well as conducts digital marketing. Social media can also be used to initiate contests and prizes. Unique case studies may be framed and then delivered after customer backed analysis. Reviews of all forms must be consulted. Often users vent negative feedback on social media, but instead of getting defensive, brands must embrace such reviews to rectify their processes.
How to Engage with Customers who are not sure what they Need
Some methods have been identified which will help engage with customers who are as yet undecided about their needs. Such methods can help marketers create a latent but as yet unknown demand. Sales personnel in such cases need to be the consultant who provides relevant information on basic needs rather than selling any particular item. Deep product knowledge can help customers identify their needs. A toll-free helpline must be provided by the organization so that potential customers can connect directly and address their not-so-clear requirements. For converting a customer, easy returns or exchanges must be floated. Online shopping platforms often use this theme for their digital marketing campaigns to attract newer customers.
Five ways Retailers can take their Mobile Customer Experience from
A study conducted by Wefl has observed that shoppers who use retail apps, tend to spend more time at physical stores as well. Mobile phones present massive digital marketing opportunities to marketers if used effectively. Thus few methods have been outlined which will improve the overall mobile experience for the customer. A “store mode” must be built in to the app just as Target has created. People these days value time so apps that replace mundane manual chores using digital solutions are well appreciated by them as has been with Walgreens’s latest intervention. Walgreens has also created the Pharmacy Chat option that allows direct communication between the customer and the pharmacist. Others must replicate such in-app messaging. The check-out process must be aligned with overall customer-centricity goals as Amazon and Kohl’s have executed so well. investment must be made in to an in-app search. This will enable mobile browsers to quickly select the retailer most relevant to requirements.
It’s time to Mobilize your Customer Engagement Strategy
With so many devices becoming ‘smart’ and trends such as the Internet-of-Things and constant use of mobile phones on the rise, a marketing research assignment was taken up by Vanson Bourne to study mobile engagement. Some interesting observations were made post this study. First of all, it was realized that customers are constantly seeking support regarding technical or purchase issues yet the existing CRM mechanisms are being unable to cope with this massive surge. Brands are losing their customers due to inefficient rate or quality of response to customer queries. More than ninety percent of respondents confirmed that they prefer a human on the other end of interactions rather than chat bots. It was also found out that due to the plethora of choices that people these days possess, even a single adverse experience can prove to be fatal for any brand. In fact around six-sevenths of those polled confirmed that they are likely to move on from the brand with any such experience.