A recent study found 80% of CEOs believed their companies offer superior customer experiences. The problem? Only 8% of their customers agreed with that assessment. So, rather than meeting or exceeding expectations, most companies are disappointing their customers, leaving them at high risk of defection. Which poses a significant challenge for marketing teams tasked with increasing customer loyalty and lifetime value.
Closing the Gap between What Brands Deliver and Customer Expectations
How do companies close the gap and move to exceeding customer expectations? The answer lies in having the capabilities to hold one customer interaction at a time, and do it consistently over the life of each individual customer. The Harvard Business Review defines the customer experience as “the sum totality of how customers engage with your company and brand, not just in a snapshot in time, but throughout the entire arc of being a customer.”
Customer Experience Expectations Centered on Personalization
Customers are not interested in the generic push campaigns of the past. This requires a shift in our thinking and a move towards delivering personalized messages and offers, in real-time, no matter what channel. For marketing teams to succeed, they need access to technologies that bring all data together in one central repository, to create one single view of the customer. This allows marketing to focus on a customer centric strategy – where the customer, not products, dictate marketing actions.
Knowing a Customer’s Needs and Wants
Real-time data combined with orchestration techniques allow marketing teams to predict a customer’s behavior, understand their pain points, and present offers and messages that not only get them to complete a purchase, but believe the brand is interested in knowing them. The customer needs to feel they are important and that the company values them. As Maya Angelou so aptly said, “At the end of the day people won’t remember what you said or did, they will remember how you made them feel.” Do you know how your customers feel about your company, brand, products?
Over Delivery the New Marketing Norm
If companies and brands want to remain competitive, over delivery is the new norm and requires your marketing team to use 3 modern techniques to execute a customer centric approach:
- Context: Understanding your customer’s situation and perspective. The more you know about your customer’s needs and wants, the more personalized your messages.
- Real-Time: Delivering a personalized message and experience in the exact moment your customer is there to receive it. Your messaging aligns with your customer’s interaction cadence. Real-time creates a big wow response, sending your customers a message that says, “Hey we know you!”
- Cross Channel: Cross channel embraces the whole customer journey. It empowers your marketing team to track customers as they use multiple channels (and devices). Cross-channel orchestration enables your team to design and execute marketing that matches the customer’s path, increasing the likelihood they will engage and respond.
Our latest eBook, The Value of Context, Cross Channel and Real-Time Capabilities: Advancing Marketing’s Productivity, outlines the capabilities and technology platforms needed to over deliver and meet customer experience expectations. It is available to download, here.
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.