Measurable Success: Unleashing Data-Driven Customer Engagement with Which50
For over 100 years, businesses have been trying to measure the success of their customer communication and engagement strategies. John Wanamaker, a pioneer in modern advertising, famously said: “Half the money I spend on advertising is wasted; the trouble is I don’t know which half”. Today, the channels and the tools may have changed, but the challenge is still the same – how can you measure the effectiveness of your digital transformation investments and optimise for better results?
This is the topic of our latest article in our SMART Customer Journeys series, where we explore how to achieve Measurable Success with your customer communication and engagement campaigns.
Five Steps for Measurable Success in Customer Engagement:
At CustomerMinds, our goal is to help our clients to identify the 50% of their digital transformation spend that is wasted and that is why we called our platform, Which50.
In this article, we will take a look at 5 Key Steps that Service Providers can take to use customer experience data and analytics to enhance the effectiveness of their customer communications. We will outline some examples of how our clients have leveraged the comprehensive analytics and tracking capabilities of the Which50 platform to support data-driven decision-making, foster proactive data quality strategies, and re-engage their customers for more effective customer communication and engagement.
1) Track Response Rates and Engagement
Measuring the impact of communication is at the heart of the customer engagement challenge for service organisations. Which50’s analytics suite allows businesses to accurately track response rates and engagement across multiple channels, providing valuable insights into the effectiveness of their customer journeys. Armed with this data, organisations can identify patterns, trends, and pain points, enabling data-driven decision-making to refine their ongoing communication strategies. This data-centric approach empowers businesses to optimise touchpoints, personalise content, and create more compelling customer experiences.
Typically we may think about measuring engagement or “conversion” when we are thinking about marketing journeys, but tracking and analytics can be even more powerful for service providers that want to measure the effectiveness of their operational communications. For example, organisations may have critical reasons to contact their customers for regulatory purposes and with digital journeys they will be able to provide evidence that the customer received the communication and whether they responded or not.
2) Enhance Data Quality
Accurate customer data is the foundation of successful customer engagement and Which50 goes beyond conventional analytics by offering detailed analysis capabilities to identify potential gaps in data quality. By examining communication responses and patterns, businesses can pinpoint the reasons customers may not receive communications. Returned mail can cost businesses up to $25 per returned item and the US Postal Service, estimates that the overall costs of returned mail is as much $20 billion per year – that sure is a hell of a lot of waste in one year, along with a failure to complete a lot of customer journeys!
By leveraging the tracking capabilities of the Which50 platform, service organisations can immediately identify when their communications are not being delivered to the customer.
With this new found insight, businesses can implement remediation strategies, using alternative channels to reach customers and request updated information. This proactive approach becomes an essential component of an organisation’s data quality strategy, ensuring reliable and consistent customer engagement.
For instance, Energy Australia identified that outdated contact details led to missed communications for a significant number of their customers. By implementing automated remediation strategies and prompting customers to update their details, the telco was able to update over 7,500 email addresses as part of an existing two-way SMS journey.
3) Implement Automated Follow-Up to Re-Engage Customers
Which50’s ‘Measurable’ feature enables businesses to automatically identify customers who haven’t engaged with previous communications and initiate an automated follow-up message.
A good example of this automated process would be what we call the Digital-to-Print ‘Waterfall’. In the example illustrated below, the service provider sends an Initial Email as the first communication, this is then followed-up with a Nudge SMS after 3 days to everyone that did not engage with the Email. If there is still no response from the customer after 7 days then a printed version of the letter is posted to those customers that have not engaged digitally to ensure that the message has been successfully delivered.
4) Evaluate Compliance and Risk Management with Analytics
For businesses operating in regulated sectors, compliance and risk management are of crucial importance when it comes to customer communication. By leveraging Which50’s analytics and reporting tools, organisations can meticulously evaluate their compliance with the communication requirements mandated by the relevant regulatory bodies.
For instance, in a recent case study, we describe how we worked with Portsmouth Water to deliver on the regulatory commitments they had made to Ofwat (the UK water regulator) whilst at the same time saving £40,000 in postage and contact centre costs. Ofwat requires that every water company meets key performance commitments in relation to consultation with their most vulnerable customers in order to manage their Priority Service Register (PSR). Portsmouth Water had previously been using traditional communication channels for campaigns that ran over multiple months and they struggled to achieve their engagement targets. However, as evidenced by the figures below, using automated digital communications via Which50 they overachieved on their targets and all of this was completed within a few short weeks of launching the campaign.
5) Measure the Impact of Personalisation Efforts
Using Which50’s Analytics, businesses can measure the impact of personalisation on customer engagement without the need for any technical expertise. A prime example lies in the success story of Life Credit Union, who have been successfully delivering targeted “Welcome Journeys” to their new members for over five years, leveraging CustomerMinds expertise in marketing automation for credit unions. The images and messaging within these digital journeys have been carefully tailored to cater to distinct member age groups and the internal marketing team love the fact that the platform offers no-code targeting and segmentation features that can be effortlessly configured with just a few clicks. What is even more critical for the team is that from a tracking and measurement perspective, Which50 provides all of the Performance Statistics required to continually assess the effectiveness of each campaign. The engagement data from all the digital channels is available in one central location, facilitating real-time testing and evaluation of the different visuals and “Calls to Action”. The data provides detailed analysis of each interaction across Email, SMS and the Web, enabling the credit union team to identify what resonates most with the members in each different age group.
Conclusion: Measurable Success Delivers Key Competitive Advantage
Measurable success in customer communications is key to thrive in today’s competitive landscape. By following these top tips and leveraging Which50’s powerful analytics, enterprise organisations can extract valuable insights, refine communication strategies, and enhance overall engagement effectiveness. By embracing data-driven automation and proactive data quality strategies, businesses can re-engage customers and drive higher participation rates, unlocking unparalleled success in their customer engagement journey.
Which50 empowers organisations in the banking, telco, and utility sectors to navigate the complexities of data-driven customer engagement, ensuring personalised experiences that foster trust and loyalty among customers and regulators alike.
If you’re keen to learn more about Measurable Success in Customer Engagement, we encourage you to check out our case studies or sign up to receive our monthly newsletter by completing the form below. Stay up-to-date with the latest industry insights and customer engagement trends.