Today’s consumers have more choices on more channels than ever before. As a result, their expectations for brands have exponentially increased. While the “service is king” and “the customer is always right” mantras have been forming the customer agenda, companies have been searching for new ways to take customer engagement to a new level.
If brands want to thrive, they can no longer view and treat customers in aggregate, demographic categories, making broad offers through fixed channels. They need to see customers as individuals whom they know well and serve like no other. A recent McKinsey article states that, “Targeted communications that are relevant and useful can create lasting customer loyalty and drive revenue growth of 10 to 30 percent.”
Successful organizations need to understand their customers through a plethora of attributes, including behavior, context, interests and preferences, to properly “wow” them and turn them into loyal customers. To achieve this, reaching customers via the right channel, with the right content, at the right time is paramount in improving customer experiences, enhancing brand loyalty and increasing customer value.
