Check out what the next generation of customer engagement means, and how you can get ahead of the curve and tap into it already today. Data can help you make sure you focus your efforts on those customers that bring the most value to your company, and it can even show you how to attract more of these customers!
Keep reading if you want to know how to bring in these awesome customers to your e-commerce store.
We all know that since the 2019 pandemic customer engagement changed forever. Companies can not rely on in-store or in-person experience anymore. They have to build their online strategy.
The Importance of Data
Every tap, click, scroll, purchase, or any action done by your customers creates a huge amount of data. A report from 2021 shows that 90% of businesses claimed that their customer insights increased as a result of higher digital engagement during the pandemic.
Along with acquiring more and more data each and every day, it is becoming increasingly more difficult to sort them out logically and helpfully which helps our business and marketing.
That is why the right tools to help us gather and analyze the right data that can improve our business are more needed than ever before.
An average company deals with 162.9TB of data (equal to 32.5 million songs on Spotify) and the global data creation is expected to go as high as 180 zettabytes by 2025. This flood of data can either make you lose sight of your customers and their actions or can benefit you in a way to understand your customers’ needs better and help you build a better journey for them.
Yet only 14% of companies have reported that they made their data available for internal employees across the organization.
How To Monitor Your Customer Engagement
Nowadays, customers are more concerned about who’s collecting their data and where it’s going to be used. As a result, data privacy is becoming more of a focus for government regulators and businesses overall.
To adapt to this privacy-first approach, businesses need to be armed with first-party data. First-party data is data collected directly by the company from its customers. Besides the legal aspect of following GDPR rules, this will help the company to build a more trustworthy relationship with its customers.
A tool that can help your company to get an overview of your customers is a Customer Data Platform (CDP). With a first-party data tool, customers share their data directly and willingly with the company. As a result, the company can build a more personalized service that, based on what the customers have shared, would result in a better customer experience.
A CDP does not only give you a single customer view to understand your customers on a 1-1 level. You also gain full control over your data, making it much easier for every employee to access the data they need to perform better.
It helps everyone in the company make a more transparent and well-supported decision. It also allows the marketing team to create a higher quality, and most importantly, more personalized experience for your customers. This will likely lead them to engage more with you on their customer journey.
Why You Need a CDP
The customer experience is one of the most significant competitive differentiators that can not be ignored in the world of today.
Take a look through the eyes of your customers. If you cannot utilize the knowledge you have on your customers to offer them something unique and personalized in this fierce market, why would they even want to share any of their data with your brand at all? Data is gold. It is knowledge. It is money. It is the only currency that means something in the world of marketing.
A one-size-fits-all customer service strategy does not work anymore. But did it ever? That’s why if you want to improve, we argue that you need to invest in a Customer Data Platform. It gives your customers the power to be in charge of their digital footprints.
The true value of more personalized customer service rises from its capability of empowering your brand to create a better customer experience. Not to forget, it gives your customers a feeling that their interests matter, which eventually will earn you their trust and loyalty.
You can not offer what every single business is offering out there. You need to stand out. If you intend to succeed and be a market leader in the future, you need to acknowledge this opportunity now and invest in the right system.
What can a CDP do for me?
Single Customer View
Let’s look into one of Custimy’s Single Customer View together.
Here you can see an overview of how your single customer view would look. Their names, ages and personal information, and more data insights are presented in a dashboard.
In the first section, you see the customer’s total orders, total item purchased and the last time they have connected with you. Furthermore More data on the first visit date, whether or not they accept marketing, and the preferred communication channel.
In short; you get an overview of your customers’ recent activity and most importantly their purchasing habits, which help you to build a more personalized experience for them. You just need to act on your insights.
In the Segment section, you can view how your customers are distributed throughout the segments. Let’s look at some examples.
Most Valuable Customers: these are your highest spender customers who order most frequently and bring the highest profit. You don’t want to lose them.
High Spend Customers: these customers spend a lot when they place an order but they are not that frequent. You can also see the profit they bring and their order size and average. They are good for your business
New Customers: these are the newcomers who have placed their first order in the last 30 days. It’s not clear if they become regular and most valuable or never come back again. You can wait and see, or you can learn from your data to make them become some of your most valuable customers in the future.
Most Valuable Customers
Let us take a closer look at one of the most important aspects of your business.
In the Most Valuable Customer section, you can see your top customers. It is those who place an order more often, they bring high profit and they have a low rate of returned goods.
Here you get to see your total active customers, orders, total sales, and total profit as well as the percentage growth compared to the previous month.
This detailed information can help you to understand your customers in a way to benefit both them and your own business. You get the chance to find your focus point for each of your customers and offer more personalized service to every and each one of your users.
Last but not least! Besides all the advantages mentioned above, there’s an Export option on the top left. You’re wondering what it does! Let me explain.
With this option, you can import all of this data you have to Facebook Lookalike Audiences and enrich your segmentation to be even better. It can help you to find more of the best customers for your business. The customers that you want more of. You can choose to treat them differently, offer them special promotions or run a campaign to attract them. Isn’t it what every business wants? More of the good customers.
Where To Start
Well done, you made it all the way here. It probably means you care, it means you’re curious.
Data is quite easy to use!! Or actually, we made it easy to use.
Just book a demo today and see how you can get started outperforming your competitors on your customer experience and engagement.
Let’s create a memorable journey for your customers together.