What is Customer Engagement?
Customer Engagement is a business communication process of interacting with the customers through various channels to strengthen brand growth and customer loyalty. The engagement can be an interaction or a reaction both online or offline.
How is Customer Engagement measured?
The customer engagement can be estimated based on the degree and the depth of the visitors’/audiences’/customers’ interaction against a clearly defined set of marketing goals of the organization. While there can be no absolute formula for the calculation of the customer engagement, there are certainly few important KPIs by which you can measure the levels of customer engagement.
Few KPIs like Average time on the site/page, Open rates/ Click-through rates (CTR), Customer referrals, Form fill ups, Social media interactions, Average order value, Purchase frequency.
Why is Customer Engagement important ?
“ Up to 2/3 of a brand's profits might rely on effective customer engagement - Hall and Partners”
As the competition grows, a customer service and engagement strategy is what sets the business apart. When there is enormous focus on the clicks, conversions and acquisition costs, businesses should also take efforts on engaging customers because acquiring strategies alone won’t suffice for long term.
Finding ways to engage the customers helps to retain them for having a sustainable growing business.