What is the most important thing for a business? Yes, selling your products and services to your customers is the most important thing, and the ultimate purpose of every business. Needless to say, consumer engagement should be your focus for 2022.
This article will explain the step-by-step consumer engagement strategy that actually work:
1. Define your Goals & KPIs
2. Segment your Audience
3. Strategies your engagement campaigns in advance for every audience segment
4. Maintain your campaign calendar based on Goals & Strategies
5. Track your results and make improvements
Before we get into details, lets quickly understand:
Consumer Engagement, simply, is an act of communicating with your customers. It’s the effort that your brand makes to build relationships with your customers through personalized interactions, with the goal of gaining and retaining loyal customers.
According to a study by Media Dynamics, an average adult who is exposed to thousands of brands in the market, engages with only 12 brands at a time. If you want to be one of the brand that your target customer engages with, you need to worry about your engaging your customers today!
Amongst the hundreds of benefits that a good customer engagement strategy can bring for your business, we emphasise on the top 2, for this article:
1. Consumer engagement creates stronger connections and loyalty with your customers. The more you engage with your customers, the more you give them the opportunity to know who you are, and connect with your brand. This increases your brand recall, and the likelihood of purchasing again.
2. Consumer engagement helps build a strong brand mindshare. When your brand consistently engages with your customers, it helps to establish your brand’s image in your customers’ mind. This is called building your brand’s mindshare – which is extremely important for any business.
3. Consumer engagement provides more chances to upsell and cross-sell. With a robust customer engagement strategy in place, you will better understand the specific need of a customer that allows you to personalise and recommend products and services. This provides increased value to your customers, and in turn, a better customer lifetime value (CLV) and revenue to your business.
Finally we have arrived at the section that you have been waiting for. So we will straight jump into the 5-step strategy that every B2C business can follow for an easy strategy that works:
For a winning engagement strategy, every element of your planning must contribute towards your vison for the business. Key Performance Indicators are quantifiable goals that help you to track and measure success. They ring the bell when your results are not satisfactory.
Segmenting your audience is the process of dividing a large audience into smaller groups or segments, those who have similar needs or characteristics. You show potential customers what they need to see to make a purchasing decision based on where they are in the customer journey. This way, your marketing feels more personal and specific.
Example: A fashion retail business that wants to clear their old stock of formal clothing will get the maximum benefit if they will target women of age group 25-45 years. To even narrow down, they can also add additional filter of women who have spent at least, say $500 with this brand in last 6 months. Because, these are likely the most loyal customers of this brand and have more possibility to make a purchase based on their history. This also gives this business a chance to invite their most loyal customers first and strengthen their relationship with them.
This whole process of segmenting huge customers data can be complex. A smart CRM can help you automate this, so that you spend your time and resources on working on right strategies. You can check Advocado’s smart-CRM features here.
Based on your audience set and business objective, determine the engagement strategy for every segment.
Example: Restaurant ABC has the objective of increasing customer visits and revenue for the year 2022. This is how they can strategies campaigns
Your engagement strategy should help your business to lead and not follow. Its best if you make your strategies in advance on quarterly, half-yearly or even on annual basis. Creating an internal calendar will help you execute these strategies in the right time.
Answers to some of the below questions will help you plan your calendar better
· How often do you want to run the campaigns?
· When do you want to execute these campaigns?
· What is your target audience for each campaign?
· Is your offer/campaign enticing for your customers?
You can only improve if you know how your campaigns are performing. Track the results and compare with your goals and KPIs. The most responsive target audience can be targeted with more offers and campaigns. Also, the better performing campaigns can be repeated, while the not performing ones can be terminated.
With the ever increasing competition, its getting important for businesses to rethink about their consumer engagement strategies. For any assistance on how your business can have a robust consumer engagement, you can get in touch with Advocado’s friendly consultants here.