HelpMe Button: personalized assistance to complete the onboarding process and drastically reduce the abandonment rate.
Engagement is a concept that companies and brands must handle skillfully if they want to establish lasting relationships with their customers.
ngagement refers to a set of actions planned and carried out to encourage the emotional connection and active participation of their audience and, in a digital environment, it is essential to retain a user who receives dozens of impacts daily.
Key to a sustained strategy in digital identities
The primary goal of an engagement strategy is to establish a long-term relationship with customers that goes beyond the simple business transaction. To achieve the so desired identification with the brand, companies use a variety of tactics: content marketing, participation in social networks, events, loyalty programs, etc. If we focus on digital channels, customer engagement is now a fundamental part of any strategy. With increasing competition and market congestion, companies must strive to connect emotionally with their customers and, from there, increase customer loyalty, improve brand perception, encourage word-of-mouth referrals and, ultimately, boost sales and business growth.
Engagement is a plan that can be deployed in any type of digital transaction, not only in the process of purchasing products or services. Each one of these transactions, from a video identification to the electronic signature of a contract, can have an impact on the relationship of trust and loyalty that is established with the company. It is important to pay attention to the quality and experience of all the contact points.
Impact on onboarding platforms
To improve this commitment to digital services, it is important for companies to focus on some basics:
- Personalization: Companies must personalize their content, messages and services to meet the specific needs and preferences of each customer. This can be achieved through audience targeting and data collection. According to a recent study published by Twilio that evaluates the engagement strategies of companies and customer perception, 75% of companies are satisfied with the personalization experiences they provide, while only 48% of customers have the perception that these experiences are both good and sufficient. This discrepancy shows that brands and companies overvalue their engagement tactics and that customers are not satisfied with just being called by name. They want proximity, proactivity and for their decisions about the product or service they are offered, to be considered.
Technology, placed alongside the personalization of the experience, offers a catalogue of very interesting possibilities. Through data analysis and artificial intelligence, a great deal of information is gathered (location, demographic data, browsing and shopping behavior, interests, etc.) to subsequently offer customized recommendations. For example, a product may be displayed that is related to the customer’s shopping history or that has been purchased by similar profiles.
- Interaction: Companies need to interact regularly with their customers through various communication channels. Today the possibilities are very diverse: social networks, each attracting very specific profiles, email, chatbots, etc. Each interaction must be meaningful and relevant. If the customer’s relationship with the company is not yet strong enough, an oversight at one point of interaction can have dire consequences. In addition, the strategy should focus on maintaining consistency across all channels. For example, if a customer performs an online video identification and then communicates with customer service via chat, they expect their identification information and transaction history to be consistent and accessible to the agent. This will prevent them from having to repeat information and they will feel that the company is taking their needs into account. If this does not happen, the customer may feel frustrated and disconnected. Similarly, in the process of signing up with a bank, it is important that the bank provides a coherent and seamless experience, from the website to the mobile app to text messages. This will enable the customer to complete the process smoothly and increase engagement.
- Innovation: Digital transformation shows no signs of slowing down and, although it may seem obvious, the truth is that constant innovation that adapts quickly to changes in user behavior is of great help in standing out from the competition and improving the relationship. Investments in this field have a direct impact on revenue, as shown in another of the report’s figures. On average, revenues attributed to investment in digital engagement of the companies analyzed grew by 70% over the full year 2021. Seven percent claim that their revenues tripled.
- Community: Companies must promote the creation of a community of engaged customers. This is well known by those who make a living from social networks: the number of followers is not as relevant as their loyalty, i.e. identification and number of interactions.
- Transparency: This is always a thorny issue. Consumers are willing to spend their money on a brand, as long as they don’t feel they are being targeted. It is one of the bases of engagement. The ever popular “cookies”, which collect information from our browsing habits, are going to give way to other modes of analysis that fill in the gaps when the user chooses not to accept them and at the same time are more respectful of data privacy. In this sense, Google has announced a new cookieless platform that will measure audiences and their reach while keeping data anonymous.
In identity verification or onboarding transactions it is vital to provide clear information about how customer information is used and protected during the process, how the security of the transaction itself is guaranteed or about identification requirements. This will help people make informed decisions, increasing satisfaction and confidence.
- Adaptation: Times change; so do habits. Younger generations are reluctant to talk on the phone and are much more accustomed to solving everything online. They would rather lose the relationship with a brand than resort to a call with a customer service if they have to resolve an incident. Taking good care of the channels and offering various forms of communication will always speak well of the company.
- Monitoring: A good engagement planning must be completed with an analysis of metrics based on user behavior and feedback. And this applies to any transaction. Sending a survey, not too invasive, after an onboarding process, can be a good starting point to ponder the weak points and improve the relationship. Another form of monitoring would be usability testing to see how users interact and evaluate the ease of use and effectiveness of the digital transaction performed. These tests can include screen recordings and real-time user feedback.
Security and trust that builds long term relationships
According to a study by Gallup consulting firm, engaged customers spend 23% more on average than non-engaged customers and they are also less likely to switch to competitors. Achieving these numbers is a critical task for companies seeking to survive in an increasingly competitive marketplace.
Bottom line, the trends seem to be pointing towards a true orchestration of the user experience, which will have an impact on user loyalty. Personalization, non-invasive tracking and innovation in consumer technology must go hand in hand. When there is a downturn, marketing departments are among the first to suffer. Now that global economies are on the upswing, it’s time to invest in strong engagement strategies that will “capture” and retain a satisfied, quality customer for the long term.