In the emerging Customer Engagement Economy, the buyer holds all the cards. The proliferation of internet access, combined with an abundance of public information, has revolutionized the buying experience. With instant access to comparison pricing and user options, the ‘informed customer’ is in the driver’s seat, able to examine differentiations between products before purchasing. In this new environment the customer is king. Companies must adapt, or risk falling behind in an increasingly mobile and social world. This means meeting the buyer’s needs through exceptional experiences across all touch points, and shifting towards a more trust-based sales model.  

The availability of information has created a transparency into most products and services. Many companies, like Amazon and Kayak, are taking advantage of this new breed of comparative shoppers by presenting side-by-side comparisons of products stripped down to their core offerings. For companies—this means there’s nowhere to hide. If your product is inferior, or if your customer experience is lacking, you will eventually be exposed. Social media has become a global public forum where products and services are dismantled and evaluated. For the customer who’s ‘always on,’ or constantly connected to the web and social channels, this means engaging them through their preferred communication platform. One poorly handled social exchange can have damaging effects on a company’s reputation. Companies must not only generate quality products, they have to differentiate themselves through excellent customer experience—seeking out customer engagements on multiple channels. In markets with miniscule deviations between products, it’s the buying experience that makes all the difference. 

Technical advancements in data collection and mobile applications have made personalized shopping experiences ubiquitous. Those who have grown up in the digital age expect a personalized touch throughout the buying process. They want to feel like they are having an exclusive interaction with their vendors, not performing a transaction. Harnessing cookied information allows for companies to present relevant cross-sell and up-sell opportunities—delivering the most personalized offerings. However, customers want to feel unique to the company, not harassed by pop-ups or stalked by retargeted display ads. While there remains a fine balance between helpful suggestions and abusive tracking, custom-tailored offerings are beneficial to all parties. 

So if customers are empowered to own the buying process and brand loyalty is dead, how do businesses win the customer? The answer—engagement, engagement, engagement. By engaging the customer, companies can control each customer ‘moment,’ ensuring a positive and consistent experience across all contact points. It doesn’t matter whether it’s via social platforms, call centers, or written correspondence, customer experience is the linchpin that makes or breaks a business. It’s this engagement that sets enterprises apart, creating customer loyalty and turning buyers into brand evangelists. 

How does a company dive head-first in customer engagement? It takes the right tools, the right processes, and the right people. Unlock the power of customer engagement, and get your guide to customer-obsession today.