The value of the individual customer
If you’re in the process of developing your demand generation strategy, or aspire to, it’s crucial that you hone in on the unique value definitions of each customer or prospect. However, before you can effectively identify these unique value definitions, you have to understand that your customers are comprised of two value-segments. A customer’s fundamental value focuses exclusively on the product and service, whereas the total value also includes areas of value.
It’s important to understand the concept of customer value, what a customer perceives as value, how a customer’s value needs change over time, and how to collect customer feedback. Realise that people choose products or services that create the most value for them when compared to competing options. In order for your offerings to stand out among the crowd, you must be able to define what your customers perceive as value and understand how they view your competitor's products. This includes understanding what drives their buying decisions, the effect of price and potential product benefits, how you can best facilitate their needs and wishes, and how your efforts in this regard compare to the competition.
At the very core of every great commerce experiences, complementing the base value you offer, we find product discovery; helping customers effortlessly find what they’re looking for. The keyword here is “effortlessly”. Clearly, we need better e-commerce search engines. But the solution, in this case, isn’t necessarily to make e-commerce search engines more akin to traditional search engines. It’s all about seamlessly integrating them into the digital shopping experience. This does require a thorough understanding of your market, business, and specifically your customers (who they are, what products they’re interested in, how and when they want to pay, and so on).
You might think your top priority is bringing in new customers. And don’t get us wrong, this is obviously extremely important. But holding on to the customers you already have is easily just as important. This is where customer engagement comes into play. Simply put, this means building relationships with the people who are buying what you are selling. It’s the sum total of all the ways you connect with your customers; through emails, phone calls, conversations on social media, and more. Creating a clear strategy around these interactions will help you keep your customers happy, and bring in new business at the same time.
Engage customers the right way
A lot has changed in the digital world over the last couple of years, for both B2C and B2B companies. One single truth that has emerged, however, is the importance of having an omnichannel strategy in place. The customer is still king after all, and the king wishes to be served across a multitude of digital channels and touchpoints. Determining how, when, and where to engage with your customers is key. SQLI can support you with creating a business model canvas, allowing you to benefit from the structure of a business plan without the overhead. We can also help you determine the digital maturity of your organization, so you understand how each area of the organization is faring in terms of maturity individually, but also relative to other departments and organizations.
Setting up the right customer segments and mapping the customer journeys, granting you insights about what it actually feels like to interact with your own company, is equally important. This allows for the creation of your value proposition, and a touchpoint and content strategy. Note that a content strategy often goes beyond the scope of a content marketing strategy, as it helps businesses manage all of the content they have. To ensure you’re on the right track we always recommend extensive user testing and prototyping, one of SQLI’s areas of expertise, as this provides valuable feedback that designers can use early in the process to avoid costly mistakes. Another major benefit of creating and testing prototypes is gaining insights into what users consider to be the product’s main purpose and value.
If all this sounds a bit overwhelming, SQLI is your full-service digital partner for your customer engagement needs and for creating and successfully executing your engagement strategy.
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Find the issues that are hurting your conversions, your customer loyalty and your churn rate. We identify, measure, and benchmark your customer experience management results with our in-depth audit based on +60 criteria. This serves as the basis for our Engagement Strategy recommendations, based on empirical data, our more than 25 years of experience and insights from other players in your industry.
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