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Customer engagement is the process of actively building, nurturing, and managing relationships with customers. Customer engagement can unlock exponential growth for your company. Learn more about how it's done.
3 CUSTOMER ACQUISITION METRICS MARKETING
METRICS: THE DEFINITIVE GUIDE TO MEASURING MARKETING PERFORMANCE (2ND EDITION) IT IS 50% EASIER TO SELL TO AN EXISTING CUSTOMER THAN A NEW ONE. CUSTOMER ENGAGEMENT METRICS App Installs, CPI, CPA, CPM, CVR, CAC POTENTIAL CUSTOMERS MAU, DAU, Stickiness, Retention Rate, ARPU, LTV, NPS EXISTING CUSTOMERS
4 WHY IS CUSTOMER ENGAGEMENT
IMPORTANT? 1. Customer acquisition costs are getting expensive (the effective cost per engaged user is $71!) 2. Engagement boosts retention 3. Only a small portion of your customers will contribute to most of your revenue 4. Most of your acquired customers won’t stick around 😢
5 RETAINING NEW APP USERS
ISN’T EASY, WITH MORE THAN 75% OF USERS FAILING TO RETURN THE DAY AFTER FIRST USE, ON AVERAGE IF YOU’RE AN APP DEV SOURCE: APPBOY, 2016 MOBILE APP RETENTION REPORT
6 WHERE THE CUSTOMER RELATIONSHIP
STARTS Relationships with customers usually start at the moment of an app install, signup, ﬁrst purchase, or site visit. We're all smiles From: Sharon at Best Smile To: Matt Molar Dear Matt, We're so glad you joined Best Smile! Our mission is to make dental appointments as easy and painless as possible by assisting with your appointments, discounted dental goodies and great tips on keeping your smile bright for life. If you're ready to book an appointment, head to the front desk. Here's smiling at you! Sharon Best Smile Support Lead BEST SMILE
8 3-STEP PROCESS FOR
BUILDING YOUR CUSTOMER ENGAGEMENT STRATEGY 1. Understand your customers better with CRM data 2. Use segmentation to break away from old one-size- ﬁts all marketing approaches 3. Engage customers in the right place with multichannel messaging
9 1. UNDERSTAND YOUR CUSTOMERS
BETTER WITH CRM DATA The foundation of your customer engagement strategy is your customer and their behavior, demographics, and interests. The best way to understand their interests and how they engage with your app or site is to use a marketing CRM to manage intricate customer details.
1 0 2. USE SEGMENTATION
TO BREAK AWAY FROM OLD ONE-SIZE-FITS-ALL MARKETING APPROACHES Modern customer engagement strategies account for customer diversity and use segmentation to make campaigns hyper-targeted and relevant. A good starting point is to create ﬁve to ten segments based on behaviors and interests that you deem to be important for using your app or site.
1 1 3. GO MULTICHANNEL
Developing a one-channel-only strategy makes your approach one dimensional and too reliant on one channel to do your heavy lifting. With a multichannel approach, you’re able to give your messaging multiple opportunities to succeed and multiple ways to make the case for your brand. PUSH EMAIL IN-APP/BROWSER NOTIFICATIONS NEWS FEED
1 2 KEY TAKEAWAYS •
Customer engagement helps you build, nurture, and manage customer relationships • Customer engagement focuses on existing customers (only 20% of them will impact 80% of your revenue) • Customer engagement boosts retention and loyalty • A customer relationship usually starts at an install, ﬁrst purchase, signup, or site visit • Customer journeys aren’t linear, making engagement complex • Understand your customers using CRM data • Segment to increase relevancy and effectiveness of campaigns • Engage with customers in multiple channels for maximum impact