In this blog we share the ultimate framework for customer engagement based on the actions that have really paid off for the brands we work closely with. We outline which KPI’s to track and how to really make sure your Customer Engagement is on-point.
For customer engagement leaders, e-commerce and CRM teams, this framework highlights two key cornerstones of your customer engagement work: customer growth and customer monetization. We share which KPIs to track and actions to take to really boost profits. This will help you drive value and prove the ROI of customer engagement work within your organization.
So, are you ready for concrete tips on actions you can take to help your brand with specific business goals? Whether you choose to focus on increasing customer acquisition, improving customer reachability, or reducing customer loss, or all of the above, let’s go get you those actions!
The first main cornerstone to focus on is…. (drumroll please)
By focusing on expanding the number of engageable customers, you can really expand the potential for profit for your brand. There are three main areas to focus on here: increasing customer acquisition, reducing customer loss and improving customer reachability. But how?
These are the KPIs to track:
If you want to see improvement in those KPIs, you want to think about taking these actions.
That’s an obvious one, right? Here’s how you do it.
Track these KPIs:
And take these actions to see the numbers soar!
You might have a lot of customers in your CRM, but if their details are incomplete and you can’t reach them with your communication, they are not worth much to your brand. But fear not, putting some effort into increasing customer reachability will really make those contacts count.
Track these KPIs:
And if you want to see improvement, here are some actions to take:
Once your customer growth strategy is in place, it’s time to put a little effort in on the second cornerstone in Customer engagement…
By focusing on improving campaign conversion and creating recurring customers, together with increasing the purchase frequency per engageable customer, the opportunities for customer monetization will only grow. But how?
First up, let’s take a look at increasing that purchase frequency. It’s a super simple way to get your engaged customers to spend a little bit more often.
Track these KPIs:
And here are some actions to take to really boost those numbers:
Another great way to increase customer monetization is to action a strategy to create more recurring customers.
Start by tracking these KPIs:
Then improve those numbers with these actions:
These are the KPIs to track:
How do those numbers look? Is there room for improvement? Sure there is! Here are some actions that will see your campaign conversion rate really fly!
To dive deeper into optimizing these KPIs through automation, explore our guide on B2C marketing automation. Here, we detail how leveraging automation tools and strategies can not only streamline your marketing processes but also significantly improve your campaign conversion rates
Is your head spinning with ideas on how your brand can boost customer engagement? We hope so!
If you want to know more about any of the actions mentioned, book a meeting with us so we can talk more. We really love all things omnichannel retailing and e-commerce, and we could talk about customer engagement strategies into the wee small hours. (And we frequently do, just ask some of our partners!)
We love all things ROI at Voyado and can help you to calculate the potential ROI of your customer base, based on our expertise and data from over 300 brands across Europe. If you want to know more, get in touch.
We love all things customer and product data, and would love to chat about your brand’s individual challenges, and how our solutions can help.
