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.
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.
A1. I love how @WestJet made a video about the night before christmas a couple years ago. Well done #guruchats
— Cheval John (@chevd80) August 23, 2017
A1) Well, there are many brands who know the art of pleasing their customers. For example @Delta focuses on customer experience. #GuruChats pic.twitter.com/7yhM5ubRRc
— Aamina Suleman 💐 (@thinkdesignvis) August 23, 2017
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.
A2 Traditionally, it's someone who's used a product/ service in the past year. Digital, however, is broadening the definition #GuruChats pic.twitter.com/PPJObIvRrP
— Cristina Roman (@cristina_ssft) August 23, 2017
A2. An active customer is chatting with their friends about your brand and finding out if you are the right fit for them #guruchats
— Cheval John (@chevd80) August 23, 2017
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.
A3: Following up! After the purchase, check in to see how the customer's experience was, if they'd like to share a review, etc. #guruchats
— MyCorporation (@MyCorporation) August 23, 2017
A3E. And @Cinnabon hosts their own Twitter Chat called #sweettalk. You will see a reply from them soon here #guruchats
— Cheval John (@chevd80) August 23, 2017
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?
A4: reward customers with loyalty programs that pay attention to their specific purchase preferences based on customer data #guruchats
— Mehreen (@ThinkDesignbuzz) August 23, 2017
A4 #Bigdata can give demographics, customer behavior, preferences #analytics etc. info imp for cust retention or conversion strat #GuruChats
— Janil Jean (@JanilJean) August 23, 2017
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?
A5 Aside from revenue, CTR, conversions & satisfaction a key metric is brand sentiment. How do customers feel about our brand? #GuruChats pic.twitter.com/lyW7V0Etc6
— Cristina Roman (@cristina_ssft) August 23, 2017
A5 Apart from knowing them inside out? ROI, revenue increase over period of time, NPS, satisfaction #GuruChats
— Janil Jean (@JanilJean) August 23, 2017
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?
A6: Absolutely NOT! There are other ways to measure conversion. Depends on what your goals and objectives are. #Guruchats https://t.co/FXJNHPAwIl
— Rebecca Councill☕️ (@RebCouncill) August 23, 2017
A6 also want retention and participation in positive word of mouth #guruchats @LogoDesignGuru https://t.co/P9gvG7TiXh
— James Bowen (@jamesBowen2015) August 23, 2017
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.
A7 Unclear pricing, slow page load times, long forms, website errors or return policies, but the biggest culprit is hidden costs. #GuruChats
— Cristina Roman (@cristina_ssft) August 23, 2017
A7: I've abandoned a shopping cart if the checkout process is lengthy and complicated. Make it easy and done in a few clicks. #guruchats
— PRKRISTYNA (@PR_Kristyna) August 23, 2017
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?
A8: @uBreakiFix interacts with U through their app, when you drop the device for them to even look it-it is like a direct line. #Guruchats https://t.co/kn9wo37Ffi
— Rebecca Councill☕️ (@RebCouncill) August 23, 2017
A8: Apps are great platform reward programs to help customers continue engaging with the brand. @Starbucks is a great example. #guruchats
— PRKRISTYNA (@PR_Kristyna) August 23, 2017
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?
A9. They work simultaneously because you are building trust with them and they are naturally staying with your business #guruchats
— Cheval John (@chevd80) August 23, 2017
A9 the more engagement generally the more customers tend to stay @LogoDesignGuru #guruchats https://t.co/oZAGnSAg30
— James Bowen (@jamesBowen2015) August 23, 2017
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.
A10) Yup! Forced engagement is a turn off. Intrusive marketing messages via mobile and email for example. Just bad practice. #GuruChats
— Aamina Suleman 💐 (@thinkdesignvis) August 23, 2017
A10 Forced engagement isn't really engagement so what we're really doing is creating annoying noise customers will walk away from #GuruChats
— Cristina Roman (@cristina_ssft) August 23, 2017
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.
A11B. @Cinnabon @Applebees won over customers because of their engagement on social media especially twitter #guruchats
— Cheval John (@chevd80) August 23, 2017
A11) Tell you what! It will always remain a love triangle. Some relationships are too complicated to untangle. ❤️💙💜 #GuruChats
— Aamina Suleman 💐 (@thinkdesignvis) August 23, 2017
