Ecommerce strategy: deepening customer engagement in 6 weeks!
Ecommerce strategies can enjoy boost in customer engagement and satisfaction with minimal intervention. Here’s how customer value maximization helped.
eCommerce companies and other entities with a primary online delivery model are served by great Digital execution & innovation. In my experience I’ve seen most of these entities who employ eCommerce strategy understand the old economy cocktail of low prices, large selection, convenience/customer experience and use the digital lever appropriately to significantly outperform the conventional competition.
Either after carefully assessing the true advantages of the Digital channel most CEOs and Leaders of these companies have pushed the the following to their boundaries:-
- Current gen Content Management platforms and surround utilities
- Analytics enabled Real-time optimization
- Bi-variate and Multi-variate testing before production releases
- Unlimited inventory and categories
- Ever-improving metrics & optimization
- Saturating digital media and exposure to traditional media sporadically
With an implicit digital maturity within, I found it quite challenging to deepen the customer engagement for the client. First things first, we went after the slack in all the above mentioned areas but the real fulcrum that could provide the ‘lift’ was missing.
Its then that the ‘Ahaa‘ moment happened! CSAT…YES, existing customers’ satisfaction index.
The metaphor of thermometer can be used to best describe CSAT. Its a collective representation of customer beliefs over factual deliveries of products and services. The insights it reveals form the basis of powerful marketing interventions that can radically alter customer engagement
Realizing that this exercise would hold the keys to the kingdom, we progressed and:-
Week#1:- Identify key dimensions from the business model that are assigned as Latent Variables. Further the influencing subset variables for these key dimensions were created. Blending domain expertise, marketing acumen and adaptation of the ServQual model these dimensions were arrived
Week#2:- The key dimensions and influencing variables were validated with data using the affirmative approach on the sample base. Using a traditional focus group this was easily executed, the challenge here however was building the questionnaire and establishing sample homogeneity
Week#3 and Week#4:- Armed with a audience confirmed Key dimensions and infleuncing variables, the final questionaire was built and adminstred on the carefully selected sample that included all segments and sub-segments of the customer base
Week#5:-The response collected from customers was structurally data modeled using SPSS. The outcome was a final set of dimensions along-with respective influencing variables and their respective weights. This revealed the importance of each dimension and the relative correlation that the audience really experienced.
Week#6:- We put together the final recommendations for changes that impacted the Portal Usability Mobile App Search Feature, Product Quality and Tiered Pricing plan
Thankfully, the client allowed us to implement most of the suggested changes and in fortnight we saw remarkable results:-
A.Customer Engagement went up by 31%
B.Bounce rate reduced by 54%
And subsequent survey confirmed that the overall Customer Satisfaction went up by 40%.
Personally my biggest learning in this exercise was the rank ordering of the key dimensions and influencing variables that the customers felt. The dimensions and variables we felt would top showed up at the bottom of the pile, almost rendering them irrelevant!
Well, this makes one wonder whether Brand Wants and Consumer Wants can truly be synonymous? And how as marketers we constantly ignore the view from Customers’ vantage point.
This reminds of an interesting CSAT assignment we did years back for a bank which I’ll park for a later date :-). Do write in for any clarifications or if you seek help
Want to learn more about the ins and outs of introducing Customer Value Maximization in your Organization? Find out more through our services here: