Insights

The Connected Consumer: Are you Future Ready?

Today’s consumers are connected like never before, and when consumers are connected they’re empowered — empowered in voice and in choice.

This means they can and will use their voices to advocate for or against your brand, with potentially damaging consequences—just look at the recent online backlash against United Airlines, Facebook or Volkswagen. It also means that brand loyalty is harder than ever to establish, let alone maintain. The modern consumer chooses brands that fit their immediate needs and desires (Amazon, Airbnb, and Netflix) and is increasingly looking for personalized experiences. They’re therefore more likely to be tempted by customer-centric brands in the future.

What does this mean for brands today? In a world where consumers are connected, you must empower your organization to intuitively understand and proactively anticipate the consumers’ future moves.

Here are four ways we’ve helped our clients keep up with the connected consumer and drive business outcomes:

Take Control of your Data

Imagine a customer browsing in a store, searching online for the retailer’s deals and checking competitor pricing— all at the same time. These actions offer a treasure trove of data that can be actioned to craft more relevant and personalized messages, and fuel more engaging and memorable experiences.

However, when this data is spread across multiple departments in multiple technologies it is impossible for marketers and associates to gain a 360˚ view of the customer across all channels of engagement. This typically means actions and investments are fragmented and the customer experience is fraught with friction and inconsistencies.

So, how do you solve this?

Start with a basic understanding of the different types of data you hold on your customers—first, second and third party—and the purpose they serve your organization: demographics, transactional, behavioral, social and environmental data are all important. This will allow you to determine what data you have and where it is located, against what data you would like to have and where it can be sourced.

Bringing data together allows you to connect, integrate, interrogate and socialize the outputs in a holistic manner against key business outcomes—from trigger points of need, interest and purchase, through engagement and experiences, to longer term retention and lifetime value.

Rethink Your Marketing Mix

Connected consumers demand a new marketing approach.

Brands can no longer broadcast a message and assume their audience will take note. Today’s marketers must combine broadcast messaging that drives brand visibility with hyper-personalized digital strategies that deliver tailored messages precisely when and where consumers are more likely to take action.

At Engine, we believe the intersection between belief and behavior is where truly personalized marketing is born. By combining an understanding of what your consumers believe, with first and third-party data that shows you how they behave, your business can create and deliver messaging you know will convert, to the right person, in the right place, at the right time.

While there are many factors that influence the impact of personalization such as: digital ad spend, web traffic and accurate baseline metrics, we have helped clients achieve uplifts in traffic and revenue growth of 47% or more; a substantial increase in valuable business outcomes.

This approach will also help you develop a 360 degree understanding of your audience, allowing you to take a holistic view of your marketing channels and disciplines. What’s more, by connecting custom content with audience behaviors, you’ll be able to optimize your ad spend and refine your initiatives over time to drive higher acquisition rates, greater engagement and increased brand loyalty.

Become an Intelligent Enterprise

One of the most dominant CX trends in 2018 has been the rise of the intelligent enterprise, a term which encompasses everything from machine learning, to robotic process automation (RPA), predictive analytics and cognitive computing.

Today’s Intelligent Enterprises are defined by their investments in intelligent tools such as customer service automation. The goal of which is to provide quicker, more personal customer experiences across the board.

The key is to seek out tools and technologies that can save your employees time and make them more intelligent, whether it’s a system that connects your customer accounts to your marketing lookalike profiles to help agents upsell your services, or a tool that predicts and automates your supply chain so that customers are served faster.

By freeing employees from low-value or repetitive tasks and allowing them to focus on highly complex customer scenarios, these tools fuel more intuitive and human experiences across the entire customer journey.  And when that happens, employees are able to learn more about the future needs and expectations of customers that fuel future opportunities for your organization.

Make CX Everyone’s Business

A connected customer strategy requires commitment, collaboration and continual change across the entire organization; aligning and interlocking all strategies and objectives so each business decision considers the effect on the customer experience.

If it isn’t already, make operational alignment a top priority for your business and look to data tools and techniques to help you get there. And as you organize around your customer, in loose but aligned networks, consider the value of making connections around a digital data spine. One that unites the front, middle and back office around the customer. This affords you the opportunity to socialize your knowledge and understanding of the customer, to adjust your priorities based on their expectations, and to resource and invest in areas of customer opportunity that will ensure you outperform the competition.

Today’s CX mature organizations are leveraging the intelligence gleaned from data to infuse each and every part of their organization to better anticipate and influence the customers’ next step, in meaningful and memorable ways, and benefitting financially as a result.

Rosetta research suggests that engaged and fulfilled customers buy 50% more frequently, spend 200% more each year, and are five times more loyal. The rewards are there to be reaped.

How connected are you?

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