Igniting customer connections – Return on Engagement
A knowledge on how the customers engage and interact with your brand across all channels gives the brands a clearer picture of evolving behavioral pathways that your consumer is creating. It is very important to measure these pathways as it helps the brand to improve the quality of the interactions with the customers. Marketers used to only look for quantitative measures for determining the success rate of marketing initiative.
With marketing moving towards creating experiential selling points, customer engagement has become one of the biggest areas of emphasis. While it may not directly represent the sales numbers, but helps the brand track the involvement of the customer with the brand. This is crucial as it impacts the chance of purchase and repurchase of a product/service. A lot of successful brands have moved beyond the short - term impact to include return on engagement.
Events have always been considered as one of the most effective ways of generating engagements. For a lot of businesses, they might look as a platform to just enhance their pipeline of sales, but the fact is that events provide a powerful opportunity for the brands to build strong relationships with their target customers. They act as a vital point of contact between the consumers and the brands. Commenting on measuring the Return on Engagement from events’, Mr. Amol Naikawadi, Joint Managing Director, Indus Health Plus, says, “We regularly create on ground events and programs’ to engage with customers, build brand awareness and educate masses about the benefits of preventive health care. The success of any campaign for us is measured through footfall, an increase in social media followers, city-specific queries, and eagerness to know about the services, which may or may not generate revenue. I feel, it is not always about sales. Our engagements are to make people understand the importance of preventive healthcare and the need to avail the services. Direct consumer initiatives build a strong, trustworthy and stable brand connect with the consumers. For us, the overall customer satisfaction and trust always translates into improved market performance.”
There has been a shift of brands focus from Return on Investment to Return on Engagements. Manoj Rathi, CEO, Krono says, “ROI was a key factor in determining the success of an event/campaign. Today, engagement is the key. It is very important to measure that are people actually engaging with your brand or not? We need to measure on how many people are engaged with the content, speakers, attendees, etc. This is extremely important as this will determine whether they will attend and engage in the future events or recommend it to their peers and colleagues. Marketing has moved a level up from just helping in sales. A strong and a stable brand connect is what the brands want these days. As brand owners, we need to develop and maintain the voice of our brand. Create exclusivity and give your customers something valuable and you will see your customers coming back to you again and again. Relate the consumers with your brand and maintain your credibility. One of the best methods to measure the return on your brand's engagement with the customers is by asking them about their experience with your brand, products, and services.”
“Brands are constantly looking to innovate to deliver an enriching and engaging experience to its consumers. Increasingly, clients are looking at RoE to drive and measure meaningful conversations around the brand, and to take their brand to the audience,” says Ayonava Bagchi, Co-owner, Young Monk Communications. She adds, “I feel even consumers appreciate a brand that talks to them, engages with them and makes them a part of the journey. From a brand's perspective, it helps build more customer loyalty, creates a favorable disposition and ultimately builds a stronger equity.”
Thus, Return on Experience and Engagement helps a brand understand how the consumers feel about it. It just does not end on the buying of a product, but extends to actions like posting a review, referring it to their friends, visiting the website, etc. It’s about making that brand a part of their lifestyle. Digital might have become a tool for reaching out to mass consumers, but engagement through an event forms the base of interaction and loyalty. Create moments and vibrant experiences. Have a direct engagement with your customers in an authentic and personal way!
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