Forbes magazine recently conducted a study of six successful companies on how technology has redefined customer engagement. The resulting information shows just how effective a solid customer engagement philosophy can be when done correctly. All agree that having such a strategy is paramount to secure future gains. All of them developed their own successful customer engagement strategy, and gave some excellent tips to those looking to do the same for their business.
Société de Transport de Montréal (STM): Adding Flare to Everyday Commuting Using public transportation can be hectic and intolerable sometimes. STM knows this, and made several innovative decisions to change the company’s focus to the customer, and not just the revenue generated by that customer. STM combined geolocation and mobile technologies with analytics to serve the customer immediately in a number of different ways. For instance, once you purchase a transit card, STM knows how often you use their transportation and your time pattern. From there, STM uses mobile application technology to alert you ahead of time of any changes or delays in your route. Using analytics and data collected via mobile technology, STM can send you offers in real-time that coincide with your current location and past consumer activity. Advertisers spend a lot of money to get their brand in front of such targeted opportunities. It is a win-win for everyone.
Lenovo: Real-Time Trending Lenovo, a computer technology corporation, has reconfigured the way it markets their brand in the social media arena. Instead of analyzing past sales data, purchase data, credit ratings, and other indirect metrics, Lenovo uses social media to go right to the source: the NOW customer. Data analysts at Lenovo use data collected via social interaction with its readers to establish their own real-time trends. This gives Lenovo a chance at being the very first source of a trend. Now, instead of following trends, they are setting them.
Australia and New Zealand Banking Group Ltd (ANZ): Keeping it Simple ANZ uses mobile technology, such as their goMoney app, to simplify a customer’s banking transactions as much as possible. To achieve this, ANZ regularly reaches out to customers who have a less-than-favorable experience in one of ANZ’s banks. They do this by using raw data collected via their goMoney mobile app, and offering alternative solutions to that customer in real-time. Even though ANZ can act on real-time data, it also uses archived data to better shape the customer’s experience.
ARI: Predicting and Preventing Equipment Disasters ARI is the largest private fleet-management services company. After collecting huge amounts of raw data such as travel distance, average speed, and other metrics related to the fleet, they set out to use that data in a constructive way that benefits both ARI and its customers. Data analysis pinpointed problem areas affecting ARI’s efficiency and customer experience. ARI used these results to predict maintenance problems before they became catastrophic. ARI also made its datasets available to customers via a web portal. Sharing such data with a customer develops trust and loyalty to ARI’s brand.
COOP: Critical Feedback is Surprisingly Constructive Coop is a grocery purchasing application available to mobile users to make food purchases without going to the grocery store. The owner, Ellen Brasse, was determined to improve her customers’ experience. Therefore, she began collecting feedback data from current and previous customers via her mobile app. She was surprised to discover that her most loyal customers were those who previously had a problem with the service and had the issue resolved almost immediately thanks to quality customer service. The obvious lesson here is that if you put a customer’s needs ahead of their money, then the rest will take care of itself.
CEMEX Inc.: Transparency in Delivery Service CEMEX Inc., a cement and concrete materials provider, realized that due to the fluctuation of the market prices that it wouldn't be able to last by market differentiation alone. They needed to be proactive and use customer engagement principles to make their company more secure. Cement and concrete are very time-sensitive materials, so accurate timing is essential to making a profit. In response to this need, CEMEX equipped company delivery vehicles with live-feed video equipment and provided their customers with access to the feeds so they could monitor their delivery in real-time without having to chase people down for updates. This one little change has proven key to the company's success.
In today’s fast-paced markets, a fresh new marketing campaign is simply not enough to sustain a company’s future. Customer engagement should be the primary focus for any business. Finding new and effective ways to serve your customers should be the passion for any business owner.
The original content was published by Forbes Insights.