In the last few months, top marketers at every level of expertise and top social communication platforms such as Facebook, Visa, Amazon, and Google have all been discussing the emergence of an ‘Engagement Economy that signals a positive disruption of the digital marketing landscape.
More than ever, brands must now demonstrate at every step of the customer journey that they understand what consumers need and want. It’s no longer about buyers listening to brands, it’s now about brands listening to buyers and forging real and lasting relationships.
The ongoing discuss about the Engagement Economy has ignited a sense of urgency to quickly embrace this change now if brands and social platforms want to succeed in this new era of marketing, not just survive. According to Steve Lucas, CEO, Marketo, the idea behind the Engagement Economy is a simple, but profound concept anchored in the shifting of relationships not only between the brand and customer, but across entire organizations. In today’s digital world, marketers must be able to reach their customers across every channel and engage in meaningful ways at every touch point.
I have outlined below 3 factors every marketer will have to consider to start winning in this new Engagement Economy.
- Listen to your audience.
What has remained constant and must change is marketers’ inability to listen to their customers. To succeed in this new engagement economy, it’s now critical for marketers as well as brands to listen and analyze what their customers want beyond their interest in a certain offer or product.
Customers expect brands to know who they are, not just their name! Do they prefer video over email? How often do they want to be communicated with? What content are they interested in?
Actively listening to our customers is the first step in forging a meaningful relationship. The next step is translating your listening into insight in order to engage and act on what you’ve learned. This process will demonstrate to customers that you value them, resulting in stronger bonds, customer advocacy, and, ultimately, greater revenue.
- Adaptation is the key to thriving
It’s no secret that one of the biggest challenges marketers face is breaking through the chaos and fighting for relevance. Marketers need to be able to pivot and adapt to a new environment at any given moment. Gone are the days of sending email blasts and hoping it ends up in the right inbox. Today we need to not only know who we are talking to, but make sure the message we are sending is relevant to the reader.
More importantly, marketers today need to “act” on the entire customer journey. It’s not enough just to talk about it. Segmentation and serving the right piece of content are key to engaging your customer.
- Win the heart of your customers
In today’s digital world, it can be easy to forget that our goal as marketers is to reach real people and tell our story in an authentic way. People want to inspired, surprised, delighted, and brands play an important role in fulfilling those expectations. And while we know the mind is a powerful tool, we cannot overlook the impact of building that emotional connection with our customers. In order to forge lasting relationships with customers, brands must win the battle of the heart.