Even before the pandemic, customer attention was at an all-time low of 8 seconds (a goldfish has a higher attention span of 9 seconds). Unfortunately for marketers, the prognosis doesn’t look great either.
Here’s why:
At this very moment, people across the globe, irrespective of their age group, are adapting themselves to learn new ways of doing things – a grandfather is learning to order groceries online, a teacher is gaining new tech skills to teach his students more effectively, a mom is learning her way around social media to stay in touch with the kids.
We all are evolving with the new reality. Experts are saying the pandemic has catapulted tech adoption 5 to 10 years ahead of where it would have been had we not been forced indoors.
And this rapid influx of tech and the resultant torrent of information is going to make it even harder for you to capture the attention of your customer.
That’s why Contextual Marketing, Customer Experience and Personalized Engagement that resonates with the customer and grabs their attention is mission-critical for marketers. In fact, 86% of the buyers are willing to pay more for better customer experience and by the end of 2020, customer experience will overtake price and product as the key brand differentiator.
Marketers can achieve their goals of revenue generation and optimizing costs if they identify the right engagement strategy for each customer based on their historical data. In fact, 64% of customers expect tailored engagements that are based on past interactions.
Here are some of our feature enhancements that will help you provide an individualized customer experience.
BEE Free Integration:
Email has always been the go-to marketing channel to launch a new product, promote existing services, getting new business or retaining the customers. 80% of business professionals believe that email marketing increases customer retention. Personalized and responsive emails have been at the forefront to drive business value for marketers with 59% of marketers saying that email is their biggest source of ROI.
Capillary has always remained market-ready with its innovations and multiple platform integrations to enable brands to provide the best customer experience. The most recent addition is the integration with BEE Free email builder to create personalized emails with the easy drag and drop builder. It is convenient for a marketer to have one to one conversations with their customers with dynamic content.
The benefits :
Engaging customers with personalized emails
Driving higher CTRs with the relevant content for each customer
Segment Automation:
The first step towards exhilarating your customers with an amazing experience is to group your similar customers into segments based on demographics and behavioural factors. Different customer segments could be: a loyal customer segment who has not transacted in the past 45 days, a customer segment who has availed a particular discount offer, a segment of customers with a transaction value of 10k in the past 3 months. These customer segments can then be used to target the customers with the right offer that resonates.
Capillary has an effective segmentation engine to collect data, segment the audience, and track their performance to improve campaign effectiveness. It has made an enhancement to increase a marketer’s productivity with the new segment automation feature. You can now automate the process of creating and updating customer lists without any manual effort in Insights+.
The benefits :
Increase the productivity of teams
Time saved with automation
X-Engage
Customers associate brands with the experiences they provide. With customers using digital mediums for buying groceries to furniture, digital experiences have gained more prominence than ever before. Targeting your customers based on the actionable insights gathered from their data using AI technologies can reduce the information overload faced on multiple channels. Identifying the right channel where customers would prefer to talk, respond and transact with a brand is where they should be engaged to get the best results. Companies that successfully engage their B2B customers realize 63% lower customer attrition. And they also achieve a 55% higher share of wallet, and 50% higher productivity.
Going beyond formal communications and developing emotional bonds is what a consumer of the 21st century is looking for. Knowing your customer to enhance their experience on their preferred channels is what they like. Capillary X-Engage is an AI-powered feature to solve a modern marketer’s dilemma of targeting the right customer on the right channel. It automates the channel mix based on the shopping patterns and past behaviour of the customers to arrive at the channel where they are most likely to respond to and transact. It can be enabled within Capillary Engage+ to deepen customer relationships by engaging customers in the most efficient way.
The benefits :
Higher hit rates with individualized messages on the preferred channel
Increase ROI by optimizing marketing spend on campaigns
Conclusion
Automation and AI are the two best friends every marketer must have to scale the business and keep his customers happy and satisfied. Right technology clubbed with a well thought of marketing strategy can enable brands to provide an unforgettable experience and enhance customer loyalty.
Isn’t it high time to embrace these features and create powerful customer experiences? Get in touch with us now!
Customers have always been the focal point for marketers to devise key marketing strategies. This focus has only intensified in the present time when brands have to be more empathetic to understand the changing customer mindset and shopping habits. Using data and analytics to understand these trends and providing unique customer experiences is the need of the hour. 78 percent of frontline employees report that their leaders have made customer experience a top priority.
As customers become more adaptable to change and shift to online experiences, marketers need to constantly evolve their ways of communicating and engaging customers. Digital engagement can pave the way to embrace the new reality, form an emotional connect with customers and maximize profits. As this is likely to become a permanent customer behaviour, retaining brand loyalty and optimizing costs should be the top priority for brands. 80 percent of companies believe that their core business model should be digitized to remain economically viable.
New Product Upgrades & Enhancements
Here are Capillary’s key features that can help marketers use changing customer trends to understand their customers and build deeper relationships :
In the constantly evolving marketplace, one of the topmost priority areas for marketers is to keep a constant check on the dynamic customer insights. The first step towards getting there is understanding consumer patterns with data-backed analysis. With data and analytics, marketers can anticipate the expectations of their customers and engage them with the most relevant offers.
With Audience Reporting, garner deep insights about customer behaviour and shopping patterns to improve the campaign effectiveness and increase the chance of getting high hit rates. Marketers can now get automated reports in EI before, during or after sending out a campaign. The segmented audience lists can be used to compare performance and use these insights to set-up campaigns. Choosing the relevant offer for each customer based on these insights can enrich their experience.
Benefits:
Pick the right offer for each consumer to maximise customer spend
Improved productivity with a reduced go-live time for campaigns by 50%
Easy to build reports with a simple & intuitive UI
Use Cases:
Track the behaviour of customers included in a list during the campaign lifecycle (before, during and after the campaign) to analyze the performance of campaigns
Comparative analysis of the current year with the previous one for a list of customers during a particular sale or festive season
The whole marketplace is evolving in sync with the changing shopping behaviour of consumers. A huge number of consumers earlier preferred the touch and feel aspect of traditional retail to make important purchase decisions. Now, the focus has shifted to receiving a great contactless experience. This has pushed marketers to rethink their strategy and use digital mediums to keep their consumers informed and engaged.
Marketers can use these changed habits to offer consumers a gaming-like experience while communicating important information of tier upgrade/downgrade of loyalty programs. This can encourage shoppers to spend a little more to retain or upgrade their tier. The goal to reduce losses and optimize costs is also taking a center stage in the new reality. Marketers can identify the low spending consumers and reduce their loyalty benefits with a downgrade strategy. Recognize your best customers with industry-specific metrics and qualified loyalty engagements based on marketers’ criteria through tracker support.
Benefits:
Engage and encourage customers to make more purchase
Reduce costs for business by downgrading liable consumers
Flexibility to set industry-wise tier criteria
Use Cases:
Use trackers to set a tier management strategy for each industry. The metrics could vary – for Hospitality, it could be room nights and for Fuel retail, it could be the volume of fuel purchases
Customers who can upgrade to the next tier by making a purchase for a smaller amount could be informed about it using gamification
Consumers are moving more towards digital and are embracing digital channels to learn, communicate and shop. This new trend has increased the pool of customers who interact with messages on various channels. Marketers should leverage this to their advantage by sending relevant and contextual messages which strike a chord with their consumers.
With Capillary’s personalization capabilities, brands can now recommend products at the right time of the day, based on the purchase behaviour of customers. Knowing your customers’ changing preferences can come in handy to enhance their online experience. The current trend of customers’ preference of making purchases from nearest stores can be used by marketers to incentivize customers with the best offers based on their propensity to shop from a particular store.
Benefits:
Improve your ROI with 1:1 targeted messages
Enhance your customers’ online shopping experience
Connect on a personal level by understanding their preferences
Use Cases:
For a customer who prefers to buy casual wear from your brand, sending the right offer on work from home collection might entice him/her to shop
A personalized, time-bound offer can be sent to a customer on Tuesday if he/she prefers shopping on Wednesdays. This creates a higher top of mind brand recall that can increase the chance of engagement and conversion.
Conclusion
This is the time to build trust, loyalty and win your customers’ hearts by developing a more personal relationship. Show them that you care by understanding their preferences, engaging them with the right information and delivering unique online experiences. And that’s how you will create a brand identity of being the most loved brand for your customers.
Interested in exploring these solutions? Reach out to your Customer Success Manager or contact us
The rapid pace of digital transformation in the last 5 years has impacted every industry. With increased mobile usage and internet penetration, customers are increasingly becoming information weary and they expect brands to deliver more personalized experiences. As more brands jump on the digital bandwagon, it becomes even more imperative to create highly personalized and tailor-made experiences for every customer.
But 2020 has been a ruthless year; hitting businesses hard, forcing them to devise new strategies to survive the COVID crisis. Smart brands have innovated and even benefited from the situation by offering unique digital experiences to their customers. Taking the appropriate precautions, boosting reach on digital channels and providing a touchless delivery experience has enabled businesses to retain their customers and slash costs.
While the situation might get better, brands should be aware of the shift in customer psychology, shopping preferences and overall purchase behaviour. With digital adoption on the rise, brands must utilize the full potential of online channels while augmenting it with the latest customer engagement strategies.
Capillary’s new feature additions will help you achieve just that and maximize your customer engagement.
WhatsApp Notifications
WhatsApp is one of the most loved messaging apps with 1.5 billion users in 180 countries. The penetration is only increasing with each passing day due to the coronavirus situation. According to statistics from May 2020, there has been a hike in the use of Whatsapp by 51% during COVID-19 lockdown.
Capillary’s integration with Whatsapp enables marketers to send transactional messages to customers to provide information about their transactions, loyalty program points, coupon codes, and also collect feedback and bot support for various enquiries. WhatsApp can be enabled from Loyalty+ using Events Notification Queue. Identify the most relevant customer events (e.g. new transaction, customer registration etc.) and use WhatsApp utility to read and respond with a message. Sending WhatsApp messages to customers helps brands to improve the campaign effectiveness by tracking various metrics such as coupon redemptions, tier downgrades and the total value driven from this channel vs others. Automated workflows can also be set-up for frequently asked questions and requests to save time.
Use Cases for Marketers:
Retain the customer by issuing coupons and points earned in the transaction based on their profile
Provide information about ongoing offers and nearest store to encourage customers to shop
AI-Powered Filters
Capillary’s AI-powered filters help you foresee your customer’s likelihood to respond, transact or churn. During these difficult times, knowing your customers can help enrich the whole customer journey and overall purchase experience. Marketers can choose filters required as per the business need while creating an audience list in Engage+. A single filter or combination of filters can be used to create a hyper-targeted list. Increase your ROI and win back customers who are about to churn with the predictive filters.
For businesses, it’s always more expensive to acquire new customers (almost 5X ) than retaining existing ones. A staggering $1.6 trillion was the estimated cost incurred by businesses due to lost customers and, once they leave, 68% of them don’t ever go back to the same brand again. Additionally, the COVID-19 crisis has created a highly competitive marketplace, where every brand is vying for customer attention, and retaining existing customers is a clear growth strategy brands should adopt. After all, the probability of selling to an existing customer is 60-70% while the probability of selling to a new customer is 5-20%.
Use Cases for Marketers:
Understand customers’ propensity to a particular store, product and time to send the right message to the right audience at the right time
Predict the likelihood of a customer to respond to a particular campaign
Foresee customers who are likely to churn
Channel Priority
In current times, ecommerce has become the go-to channel for customers. This presents marketers with an opportunity to reach a massive customer base through online channels. And brands who don’t get their digital strategy right, risk losing out on a lion share of customers. On the other hand, customers are divided by their brand/product preferences and their propensity to respond to different channels.
Capillary’s Channel Priority has been designed to address this challenge by offering marketers a list of channels that is ranked from highest to lowest priority based on the likelihood of customer response. It can be set-up while creating a campaign in Engage+. Choose the scenario most suitable for you and the channels within that by prioritizing according to the customer preferences. The feature helps marketers to prioritize channels of engagement based on customer’s availability on each channel, without having to create multiple campaigns. This enhances the productivity of internal teams and empowers them to create personalized customer experiences to increase hit rates.
Use Cases for Marketers:
Minimize the cost of communication by prioritizing channels to reach the customer
Maximize the probability of conversion with channels known to give higher ROI over others
