There are 3 levers businesses can use to compete with each other. They can be cheaper, they can have unique intellectual property, or they can provide an exceptional customer experience.
Brands can master one, maybe two of these areas, but to do all three at once is extremely difficult.
For many e-commerce properties, competing on price isn’t practical, especially when stacked against Amazon. Even having unique inventory and intellectual property is a challenge given the vast selection of products from industry leaders.
This leaves businesses with one last lever—the ability to deliver exceptional customer experiences. Delivering this can be easy, but many brands are actually failing. Why? They create a frustrating experience by over-messaging their consumers with irrelevant, impersonal communications. Consumers are sick of it:
- 91% of consumers unsubscribe from emails (Salesforce)
- 60% of consumers opt out of mobile push notifications (Kahuna)
- 33% of consumers use an ad blocker (eMarketer)
- 44% of direct mail is never opened (NewsCred)
But it doesn’t have to be this way. Brands can start delivering relevant, personal communications and thus also deliver an exceptional customer experience. The answer is to invest in AI-powered tools that help brands speak to consumers as the individuals they are and breathe new life into the customer experience. As a result, brands are able to build stronger connections with consumers and increase conversions by 150%.
The 4 elements of meaningful customer engagement
Investing in AI-powered tools is just one part of rethinking the customer experience and how to better engage with consumers. Let’s take a look at all 4 elements of meaningful customer engagement:
In order to stand out in today’s crowded landscape, businesses need to leverage consumer-centric tools to meet the needs of individual consumers. This means that the tools should be built from the ground-up with the individual consumer in mind, as opposed to being channel-centric, device-centric, etc.
- Behavioral segmentation
Behavioral segmentation involves grouping customers based specifically on how they act when making purchasing decisions. For example, brands look at readiness to purchase, level of loyalty, and frequency of interactions with the brand. Demographic segmentation, on the other hand, is more limited, focusing on general characteristics such as age, gender, location, income level, and marital status to create profiles of target buyers.
AI-powered tools help eliminate marketing guesswork by enabling brands to perform actions at a one-to-one level. It enables businesses to not only know who to target messages to, but the precise moment they should be sent.
- Extreme personalization
Extreme personalization means that brands are communicating with each consumer as an audience of one, based on a variety of factors (preferences, content, channel, send time, and so on). AI-powered tools can help facilitate this.
Want to dive deeper? Hear Sameer Patel, CEO at Kahuna, and 3 leading B2C marketing pioneers discuss the 4 elements of meaningful customer engagement. Simply click the button below!