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Keeping customers happy in the relationship economy

  • Posted on July 15, 2015

Making a customer happy is one thing; ensuring they stay happy and loyal is a completely different matter. The best way to do this is to get to know them: their likes and dislikes, their preferred platform and social media tools, their interests and their preferred communication channels. We work in a relationship economy and continuous and relevant conversations create a healthy, open connection between a company and their digital customer. This can only be achieved by creating meaningful and relevant content and service offerings – at the right time and the right place and only from the point of “Help Me” or “Entertain Me”. Therefore companies need to transform their collected customer data and information into sticky, individual, personalized offerings – in real time.

Today’s successful companies are achieving most of their growth by building relationships with their existing, valuable digital customers. 93% of people have been introduced to a business through word of mouth, meaning that it’s vital that organizations keep existing customers happy if they want to grow. Ensuring customers are satisfied is achieved by making them feel content and taken their individual questions or tasks seriously.

One of the requirements to do so: we all crave ‘comfort technology’ – intuitive, reliable tools without channel, device or media breaks that augment the way we interact with businesses. This seamless experience builds a sense of trust, and means we’re more likely to stay loyal to the brand. Comfort technology and exciting brand experiences are built by utilizing customer trends to enhance their experience, thus increasing the possibility of further engagement.

For example, the Avanade Digital Marketing Managed Services team worked with an insurance company’s IT and marketing departments to employ a tool that’s able to analyze visitors to its website. The process went as follows:

  • A couple search the website for home insurance
  • In their search, they include the fact that they have two children
  • The analytics tool is able to understand this data in real-time
  • A pop-up banner then appears on screen asking the couple if they also need car insurance on the family vehicle or other insurance products that make sense regarding their individual family situation

This reactive up- or cross-sell was possible after using our customer experience calculator and bringing the IT and marketing departments closely together. Tighter and more strategic collaboration enabled each area of the insurance company to fully realize the value of the idea.

No matter what business you’re in or the services provided, embracing the relationship economy more than ever means connecting the digital customer, data and analytics and digital marketing worker to create long life loyal customers and brand ambassadors to achieve and align around common goals and ultimately benefit both business and customer bases.

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