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The Next Frontier of Data and Analytics for Building Brand Engagement

The most powerful way to engage customers and increase brand loyalty is often overlooked.

Data and Analytics for Building Brand Engagement

Companies continue to overlook the most powerful way to engage customers and increase brand loyalty. I shared this fact in a recent Payment Week article, The Next Frontier of Data and Analytics for Building Brand Engagement.

Essential customer communications – bills, statements, regulatory communications, etc. – typically account for more consumer engagement than any single marketing campaign on a monthly basis. And most companies overlook their potential.

Think about your own behavior as a consumer. How often do you communicate with your service providers and what drives that engagement? It’s likely your communication is predominantly around bills and statements, and these interactions are also the primary way many companies collect information about you. This exchange is often limiting for companies and frustrating for consumers.

Luckily, enhancements in the technologies used to create, deliver and present content digitally are changing how consumers and companies communicate. The benefit of reaching customers digitally extends far beyond better customer engagement for brands; it also reveals more customer insights with data and analytics.

Engaging customers online and tracking that engagement in an automated, immediate, digital way removes the guesswork about individual customers. Instead, companies can respond accordingly to individual preferences, specific actions, and unique behaviors.

Companies can create better customer experiences and leverage their essential communications by identifying additional information that is most helpful and relevant to individual consumers and distributing it to the same channels as their essential customer communications. Whether it’s an infographic, video or another form of useful information, companies can monitor and react to any engagement the consumer has with that content, empowering their next communications.

It’s time for companies to move beyond using data and analytics solely for marketing purposes and use it to ensure all communications – especially their bills, statements, and regulatory communications – create exceptional customer experiences.