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 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
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
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