While you’re investing a huge slice of your budgets in gaining new customers, existing customers are leaving your brand and moving to the competition.
If the reason that these customers are leaving is because they are disappointed with service or treatment, then it’s likely that most of them will never return.
This is a triple loss: the loss of the customer; the loss of the chance of winning him back and the probable loss of their social media friends as potential new customers.
The good news is that to keep existing customers costs you about 5 times less than to attract new ones.
Engaged customers are more loyal than any other customers. But the majority of them are not engaged. In fact, statistics show that 68% of customers feel that brands just don’t care about them.
It’s no longer enough to simply provide good service – brands need not only to meet, but to exceed their customer expectations.
Therefore it’s recommended to measure your customers’ level of engagement. Do they open your communications, are they using your self-service channels or social networks, did they call the contact center and get the answers they were looking for? Every single customer action can tell a story about the customer-brand relationship.
That’s a good start in making them feel that the brand relates to them as individuals.
However if they are not engaged enough what are the chances that they will open the personalized content that you send them?
By sending a video, you can increase communication exposure. But by sending apersonalized video you gain from both the impact of video and the power of personalization.
For more on brand engagement through personalized video, click here.