Customers expect personalization and a unified experience across every channel, Yet, many organizations are struggling to act on their customer data to deliver the type of experience customers expect. Digital engagement platforms are designed to fill the gap between insight and action–and capitalize on every opportunity to upsell, cross-sell, and delight customers during the moments that matter.
Current Technology Infrastructure the Major Issue
Most marketing technologies continue to be a collection of disconnected solutions. Each solution interacts with the customer in different ways, collects different data, and stores that data in silos. This technology and data fragmentation, means marketers don’t have the clear and unified view into their customer’s needs, wants, or intentions. An engagement platform closes the technology gap between what customers are using and the business technology that typically lags that of the customer.
Closing the Gap Between Customer and Business Technology
With a digital customer engagement platform, organizations can stream in customer data stored in various sources such as POS systems, mobile wallet apps, web ordering systems, SKU tracking, and in-app ordering to create a single customer profile that is updated in real time. This allows anyone who interacts with the customer (marketing, in-store sales associates, customer service) to access a customer’s data and act in unison to deliver the necessary contextually aware and highly personalized experience to meet the channel agnostic customer’s expectations.
An Engagement Platform Helps Deliver 3 Critical Business Goals
The statistics are conclusive. Forrester found that customers that are fully engaged have average order values 1.9x, customer retention 1.7x, and customer lifetime value 1.6x, versus those that are not. A digital engagement platform helps your organization capitalize on three critical business goals:
- Retention: Customers are not interested in the generic push or calendar specific campaigns of the past and will abandon brands that do not offer them a personalized experience. A customer engagement platform allows you to display offers specifically targeted to a customer within your mobile app, or through a campaign, based on previous purchase history. Customer engagement platforms can personalize engagements with unique content, and offer personalized product recommendations based on a customer’s preferences, delivering the offer in the moment.
- Satisfaction: The American Express Global Customer Barometer, states, 81% of satisfied customers will do business with you again if they have a positive experience and 95% who have a negative experience, won’t. And worse, they will share their negative experience with friends, family, online… Customer satisfaction is a combination of the emotional and the rational, what a customer feels versus what they do. Engagement platforms help you satisfy both by allowing you to personalize their experience at every stage of their journey – before, during, and post purchase, leaving the customer feeling you care about them and delivering the products or services they need.
- Increased Lifetime Value: Businesses that focus on customer engagement are focused on value creation, not revenue extraction. They give their customers something meaningful beyond a “sales pitch.” They increase lifetime value by delivering an end-to-end customer experience. A study by White House Office of Consumer Affairs found that, “80% of U.S. consumers would pay more for a product or service to ensure a superior customer experience.” An engagement platform helps deliver this end-to-end experience by allowing you to orchestrate the consistent delivery of relevant, contextually aware, and hyper-personalized next-best-actions across all customer journey stages, all touchpoints, channels and devices.
To find out more about how a digital engagement platform can help your organization increase customer retention, satisfaction, and lifetime value, download our latest eBook, How to Implement Personalization Across all Customer Touchpoints.
About VeraCentra: Marketers everywhere want to use data to implement more modern customer engagement strategies. But there can be many obstacles standing in the way of success. That’s where we come in. VeraCentra provides easy-access Customer Data Hubs. We represent best of breed Cross Channel Engagement Platforms (so marketers get the right fit) and offer the Marketing and Data Services that guarantee speed to value and quick win ROI from technology investments. We deliver these solutions with an unmatched wholehearted approach bringing personalized support, care, and service to every client. That’s why many of our client relationships span more than a decade.