Market Insights

As the competition for customer attention and brand loyalty escalates, consumers must decide what content is worth engaging with. In today’s highly dynamic and interactive business environment, the role of “customer engagement” in co-creating interactive customer experiences and value is receiving widespread attention from business practitioners and academics alike. It is suggested that customer engagement represents a strategic imperative for generating enhanced corporate performance, including sales growth, superior competitive advantage and profitability. The rationale being that engaged customers play a key role in viral marketing activity by providing referrals and/or recommendations for specific products, services and/or brands to others.

The brand experience is arguably the most valuable aspect of customer engagement today. The ability to win consumers over and activate sales through incredible brand experiences is integral to the success of businesses today. By creating experiences that matter and are shareable brands can attract and engage customers over a long period of time. For example, 98% of consumers create digital or social content at events and experiences and 100% share the content. Additionally, 72% of consumers say friends’ posts about branded experiences makes them more likely to purchase from said brand.

What exactly is customer engagement? In short, it’s the way you interact with your customers in meaningful ways. Just as personal relationships make up the network in a community, customer relationships are your business network. By investing in consumer engagement, you are nurturing these important relationships.

As marketers, collecting or acquiring data is all in a days work. Constantly crafting new ways to acquire information about your customers to achieve a 360 degree profile of them is the name of the game in today’s marketing profession. The ability to know the wants, needs, and behaviours of your buyers is invaluable and the only way for businesses to compete today.