The Future of Customer Engagement Part One: Retention

Big Data creates insights that drive post-purchase engagement
When we consider how much more expensive it is to acquire new customers than it is to retain existing ones, it pays to create best-in-class post-purchase engagement. Each fortnight, this loyalty series will track our predictive consumer trends that meet your customer engagement questions. We will dive into three trends for 2019. First we look at how to retain customers building long term loyalty, second how to grow the frequency of transactions and third how to encourage brand advocacy.

Bring customer data to life
Brands are working hard to use Big Data to personalize and improve usage experience. Marketers, however, could also be using the same stats to boost brand loyalty. Consider using using using data to boost retention like the brands bringing customer data to life in an engaging and visual way. This satisfies customer curiosity into their own behaviors, and simultaneously shows them just how much they depend on your services.
Consumers morbid curiosity about themselves has given rise to a number tests and services that quantify consumers. DNA testing, microbiome samples and health tracking services are all examples of this. By surfacing customer insights, brands can take the hard work out of quantifying a customer’s behavior for them. Simultaneously a brand will continually signal the value of its service long after the time of purchase.
Sizing the market

What this means for post-purchase engagement
Present customers with engaging (and shareable) records of their engagement with your brand. Show them, for example how many hours of entertainment they have enjoyed, are they a top user, what their top plays are, what time of day do they log in, when do they order healthy vs fast food… Be wary, however, to use customer data for interesting insight but not to poke fun at your users. Revolut (on the right) fell foul of data misuse in a 2019 Valentines ad that was called creepy, mean and is under investigation from the FCA at the time of writing. Instead, make it your aim to provide compelling reasons to stay, renew and advocate.

This is the first installment of a Future of Customer Engagement series published every fortnight. Log in or request a demo to Foresight Factory online to see all the trends and data driving post-purchase engagement.
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