The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
The economy today is full of businesses trying to stand out in fast-paced, highly competitive environments. Marketing initiatives and growth strategies are constantly adapting to keep up with social media trends on apps like Instagram FB and Twitter TWTR, as well as consumer preferences. Even business-to-business (B2B) firms need to find new ways to attract clients and close deals.
That’s where customer engagement comes in. Customer engagement entails interacting with customers through various channels, with a focus on developing and strengthening long-term relationships with them. Instead of investing efforts to constantly attract new business, customer engagement is about deepening your relationship with existing and potential customers throughout their entire journey.
How Customer Engagement Helps Companies Grow
Engaged customers constitute a 23% premium over the average customer in terms of profitability, revenue and relationship growth. Engaged consumers buy 90% more frequently, spend 60% more per transaction, spend 300% more over the course of a year and are 5 times more likely to stick to that brand in the future.
Plus, companies that manage to effectively engage customers were 2.2 times more likely to experience an increase in market share.
Effective customer engagement boosts brand awareness, enhances customer loyalty, generates valuable customer feedback, improves retention rates and increases sales funnel velocity. Customer engagement works to amplify sales and optimize existing outreach strategies. It also helps firms differentiate themselves from their competitors and ultimately enhances profitability.
How Companies can Increase Customer Engagement
Companies looking to boost customer engagement would benefit by introducing a couple of practices, namely:
- Tracking the customer journey: Analyze the customer’s experience as they progress through different sales points. Work to identify areas of frustration and gaps in the sales channel.
- Collect feedback: Be open to hearing what customers have to say and actively seek out feedback. Take your customers into account when making decisions.
- Deliver an omnichannel experience: Being available on multiple channels is key to effective customer engagement. Customers want to know they can seek out assistance and that help is never too far off.
- Use the right tools: It can’t be overstated how important the right tools are for enhancing your customer experience. Data, customer relationship management (CRM) technology, artificial intelligence (AI) and more are all critical for providing a seamless customer experience.
Customer Engagement Tools
When it comes to the best customer engagement tools, Infobird Co. IFBD is the front-runner. This China-based, software as a service (SaaS) company maintains top customer engagement solutions that help companies manage every stage of the customer journey — from brand awareness to post-sales relationship management.
Infobird uses top features such as AI-driven telemarketing, omnichannel support, intelligent chatbots and more to enhance the customer relationship. Infobird also provides AI-driven sales force management, intelligent training resources and quality inspection to optimize internal operations.
But what truly makes Infobird stand out from competing SaaS providers in this space is that Infobird can also provide standardized SaaS solutions to target business scenarios, which aims to empower clients to carry out better business outcomes rather than just providing pure product functions to them. Also, Infobird puts a huge emphasis on the value of customer engagement data. Companies can use their Infobird data to better understand their customer engagement, improve training practices and further enhance customer relations. Data can also be harvested to conduct multidimensional data analysis, including user portraits, customer focus, market conditions and more.
The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
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