The New Customer Connection
Loyalty attrition is always a considerable problem when dealing with long term customer engagement. Costly and labor-intensive efforts to keep customers engaged are wasted due to the exponential deterioration of consumer interest.
The idea of customer loyalty being a static state-of-mind has become obsolete. Now, customers demand constant participation, interaction and attention from and with the brand itself.
But omnichannel loyalty (OCL) engages customers through a variety of ways. From various points of sale to social media, a company connects with its customers throughout different areas of the customer life cycle. If executed properly, OCL can have stronger long-term influence on a customer’s lifecycle value (CLV).
Unfortunately, OCL is harder to implement due to the amount of moving parts required to be effective. 90% of Big Data collated from OCL initiatives become missed opportunities to truly engage the customer. However, technology allows brands to engage customers real-time. These “Always Addressable” customers, who spend a majority of their time online, have the potential of interacting with the brand in an increasing number of ways. Unsurprisingly, 60% of these customers are between 23 to 31 years of age.
By infusing OCL strategy and technology with actual business processes, companies can engage customers more effectively, strategically and personally than ever before.
Infographic Source: Kobie
By Zig Roberts