It’s all about the customer – knowing them from a 360° perspective and anticipating their needs and actions to promote retention and profitability
Create Positive Emotional Connections between Your Customer and Your Brand
Customer engagement is a digital, virtual or in-person experience that leads to an emotional connection between a customer and your brand. Successful interactions can lead to higher brand growth, loyalty, and customer retention.
Customer engagement is arguably one of the most important ways that brands will differentiate themselves in today’s competitive digital environment as it separates good businesses from great ones and can unlock exponential growth for your company.
Generate Highly Engaged Customers
Numerous studies have shown that highly engaged customers buy more, promote more, and have a deeper connection with the brand. When you consider the fact that the cost of acquiring a new customer substantially exceeds the cost of retaining an engaged customer, as well as the lifetime value of an engaged customer ¾ there is a compelling case for creating highly engaged customers.
The four most important common outcomes of an engaged customer are:
- They buy repeatedly from the brand.
- They spend more with the brand each time they buy.
- They are more likely to recommend the brand to a friend.
- They promote the brand in social media.
Redefine Customer Experiences
Many companies lack the integrated capabilities, data and insight to genuinely deliver on consumer’s changing needs. They have not yet mapped out “the jobs the customer wants to be done” and the related jobs the organization must do effectively to produce that winning experience throughout the lifecycle of the customer journey.
RCG’s Framework for Customer Experience DNA: CxDNA
Why DNA? Because the DNA is a double helix, it’s an; it’s sort of two strands that are interwoven. So, similarly, what we have another analogy of two strands of actions. There’s the customer action strand and the organizational action strand.
From the customer’s standpoint, they are going through a series of steps or stages in their journey. That journey begins with discovery, then learning about the problem that they have, evaluating possible solutions to their problem, and then the actual purchase decision. They then use and engagement with the service or product they’ve purchased. Finally, if they’re happy with the experience, they become advocates.
Customers who are advocates are more likely to buy more services or products and to sign up for longer term commitments. These customers actually become loyal to you, and are often times the best salesperson your company can have.
Knowing which customers are likely to become advocates and what you need to do to convert them from customers to advocates is the result of a well-executed CxDNA framework.
In parallel, what do you want to do as an organization, as a marketer, as a business?
You want to reach customers, to make them aware of your products and services and your brands, you want to acquire them, which means that you want to bring them on board, get them to sign up with you, get them to try your products, then you want to convert them into paying customers.
After you convert them into paying customers, you want to develop the customer relationship, get them to buy more frequently from you, buy more products from you, to increase the lifetime value. Next, what you want to do is to make sure that you retain your customer, that they don’t churn, that you don’t lose them. And finally, you want them to actually become loyal to you, and to advocate for your company or your brand or your products to other people.
So, that is the customer experience DNA, and these actions are parallel and are interwoven as represented in the double helix.
Customer xDNA Best Practices
RCG can help you construct the CxDNA framework to innovate and thrive with your customers. We can help you define the key customer personas, focus on how to help them in the way the way they want, and to keep it strategic yet simple.