conversion

#GuruChats: Engagement Vs Retention Vs Conversion – The Customer Love Triangle

Your customer is ‘that special’ unique ‘someone’ you hope will crush on you. For that you need to entice them, engage with them and remain interesting to them. This requires a thorough planning for acquisition engagement and retention.

While there is a segment of marketers targeting the pro-active consumers ready to swipe their credit cards, others will go against the stream and aim to engage with new prospects. In order to nurture a consumer so that he converts, businesses often set certain micro goals. A promising converted customer is then targeted with retention strategies to make him loyal to the brand. In the chat “Engagement vs retention vs conversion – the customer love triangle” we discussed how the three are related.

Here’s a list of guruchatters who will unravel this complicated love triangle for you.

Cristina Roman

Cheval John

James Bowen

PRKRISTYNA

Rebecca Councill

Now let’s get straight to it.

1. What’s Your Favorite Customer Love Story?

Being a customer do you ever feel smitten by a brand? If you are in love, it could partly be due to a marketer who understands the love triangle between engagement, retention and conversion.

2. How Would You Define An Active Customer?

In the simplest ways, how can we identity an active customer among others customers who purchase your product or service. Most brands consider active customers as a prospect that can be converted repeatedly and nurtured to turn into brand advocate.

3. What Factors Help A Brand Retain Customers?

While some businesses still value the acquisition of new customers over developing a deeper relationship with current customers, it’s actually counterintuitive based on what we know about the lifetime value of existing customers. Let’s see what guruchatters think.

4. How Can Big Data Help Devise Customer Retention Strategies?

Whatever you wish to know about your customer demographics, their purchase behavior, big data tells you all. Now once given access to that valuable pool of information, how will you create and manage retention strategies?

5. What Are The Key Metrics For Customer Engagement?

In their quest to better understand the customer, marketers create campaigns for engagement. The success of a campaign can be measured through certain metrics. What are your goals and metrics for engagement?

6. Should Sales Be Your Only Conversion Goal?

When you hear the term conversion, what comes to mind? If you’re from sales department, you probably think sales. And of course, from a business perspective, that’s the bottom line. We all want sales. But if you think about it, there are a lot of small milestones that precede the final sales. So how is it for you?

7. What Are The Possible Reasons For Shopping Cart Abandonment In Online Vs. Offline POS?

Shopping cart abandonment was not a real issue before ecommerce gained momentum but it existed in offline point of sale as well. What are the possible reasons for increase in shopping cart abandonment, let’s find out.

8. How Can Apps Be Utilized For Customer Retention?

Some applications can be created for providing info, free service to keep the subscriber and customer hooked to your brand so that they don’t look for alternatives. In what other ways can apps be your aide for customer retention?

9. Is The Relationship Between Engagement And Retention Mutually Exclusive?

Some businesses would simultaneously run campaigns to engage with old and new customers. What kind of relationship do you expect between customer engagement and retention in that case?

10. Can You Increase Conversion By Decreasing Forced Engagement?

Not every interaction is an opportunity for engagement. Sometimes forced engagement runs the risk of annoying the customer. Although your aim was to convert, you can end up damaging the prospect of conversion. Is there anyone to oppose this idea? Please come forth.

11. Retention Vs. Engagement – Who Will Win Hearts In Customer Conversion?

Well, the focus is to win the hearts of the customer. Some businesses might choose to do that via retention of old customers or engagement with both old and new. What’s your practice? Share with us.

For full scoop check out the all the tweets from #Guruchats

Mehreen is a social media buff and design blogger, who keeps a keen eye on graphic design trends. She has a passion for experimenting with design ideas, and wouldn’t mind if it means going out of her way to find them in Timbuktu. Follow her on twitter for daily inspirations and findings.

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