It’s 2016, and most organizations have a “comprehensive” customer experience strategy focused on improving engagement and increasing acquisition and retention. But was this strategy developed with a true understanding of your customers? A successful customer experience strategy needs to include insights from your customers so that the organization can be proactive about communicating with them and rapidly shift in order to address needs. Further, this information needs to be easily accessible throughout the organization so that all departments have visibility into customer activity. The following article provides 10 ways to tell if your customer experience strategy is outdated.
1. You’re unsure about what your customers really want
A customer engagement or loyalty strategy should aim to encourage customers to spend more, more often, and retain them; but to do this you need be giving customers what they want. If you think your strategy is misaligned to your customers, take some time to find out what they want. Knowing why customers love your brand, but also why they leave you means you can create a strategy to win new customers, build loyalty and retain existing customers to reduce your churn rate.
2. You’re not using insight to better understand and serve your customers
Technology is driving the convergence of the digital and physical worlds; all of which are a fantastic opportunity to start collecting more valuable customer engagement data across multiple touch points from social media, reviews, call listening to feedback surveys and wider consumer trends.
Data should provide you with the insight to understand customer patterns and behaviours. Whilst it’s easy to get swamped in a sea of big data and not know where to begin, make sure you’re only collecting data that is relevant and can be turned into actionable insight. Ask yourself ‘So what? What’s the data telling me?’ You can then not only anticipate needs but also surprise and delight customers by giving them what they want (or didn’t even know they wanted). Showing customers you understand them is a major factor in growing loyalty and engagement with a brand.
3. You don’t know the ROI of your marketing spend
46% of surveyed customers admit to spending more due to a loyalty programme (Total Research Corp & Custom Marketing Corp) and we have found for some partners that for every £1 invested they get £6 return. Are you able to demonstrate the effect your marketing efforts have on profitability and your customer base
The beauty of taking a data driven marketing approach allows you to put numbers against engagement and better spend your budgets on the channels and campaigns that work. The ability to measure performance lets you demonstrate the ROI of every pound invested.
4. Personalisation isn’t on your agenda
Consumers are now switched on 24/7 and expect consistency and personalisation across all channels in real-time, so if you’re not offering a personalised, relevant, targeted and streamlined experience across all channels, chances are you won’t keep your customer for long.
5. Your business is operating in silos
Customer-centricity is vital to the modern business and yet many are still operating in silos – even within the marketing team. Aligning your marketing department around the channels which they are responsible for (e.g. the digital team, the CRM team) is increasingly viewed as out-dated. It’s now time to invest in teams that focus on optimising the customers’ journey, interactions and experience across all of the different touch-points.
But it’s not just down to the ‘marketing team’; customer experience impacts on all areas of the business. From finance to customer service, it is crucial that a culture of customer-centricity is reinforced and maintained across the business to ensure that all staff are always focused on the customer. This isn’t a quick fix and might mean a huge organisational restructure; but it will ensure that you are an agile, customer-focused and forward-thinking business that can withstand the changing consumer landscape for years to come.