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3 perspectives when considering new social media and messaging channels
Digital transformation is a certain hot topic in 2020 – it’s been mentioned over 950 thousand times already on social channels this year*. At the core of digital transformation are modern channels: Social media networks, messaging apps, and new ways to connect with customers across digital. In comparison, TikTok has been mentioned over 62 million times this year*. The COVID-19 pandemic has only exacerbated the urgency for businesses, organizations, and governments to transform by shifting customer-facing operations to modern channels. At Sprinklr, we talk to new and seasoned customers around the world about how to best leverage CXM (customer experience management) software to make customers happier. In that spirit, below are three actionable perspectives inspired by sprinklr marketing, design, and startup strategy that can help you while considering new social media and messaging channels.
1. A CXM perspective: Let customer experience lead your consideration of modern channels.
As enticing as it seems, we should let go of the notion that “we need to be on TikTok because other brands are”. Instead, think first about where your customers’ experience with your brand may be lacking, then source creative ideas to the moments that matter most to your customer. For instance, many brands are struggling to manage the vast increase in customer care calls and messages due to COVID-19. Is this a marketing problem? Arguably no. Is this a CXM problem? Undoubtedly yes! Therefore, it’s crucial for marketers to think about how to help manage inbound messages, offset call volume with digital alternatives, or integrate live chat with incoming Tweets. Having your CXM be the driving point of ideation, not the channel itself, will lead to better ideas on how to leverage modern channels to better serve your customer.
2. A test and learn perspective: Pilot everything, and kill what doesn’t work.
A classic call to action over the past decade for business has been to “be agile” and “act like a startup.” But why? A major part of this can be attributed to how startups have grown to create very methodical ways of quickly validating, or killing, ideas (such as this example from seattle startup studio Pioneer Square Labs) [1]. It’s an established habit to rigorously test new ideas to quickly determine whether teams should keep investing in a new campaign, product, or venture. For marketers, CXM technology gives unprecedented visibility into customer conversations and impact of new brand content. Frog, a world-leading design firm, illustrates in a recent report that “New tech alone cannot save major flaws in a business’s overall offering, but it can lead to new ventures, offer forward-looking alternatives and influence new processes that improve overall CXM in a measurable, scalable way.” [2] We can take inspiration from startups by combining listening, customer service, and advertising intelligence to validate new content, campaigns and digital experiences before deciding to invest full budgets – resulting in quicker innovation and efficient spending.
3. A CAC (Cost to acquire a customer) perspective: Force cross-team collaboration by tying new initiatives to metrics that matter.
This is a tough one for marketers, since many campaign objectives don’t directly or cleanly connect to a new customer acquisition or sales measurements. CAC is a classic measure for entrepreneurs and business strategists that drives investment decisions, and I think it should be a cornerstone consideration for all CXM-driven marketers. By considering how new campaigns or initiatives contribute to a better CAC, new ideas and solutions will force a habit of collaborative innovation. For example, brands’ digital/social team should be collaborating with your care directors to leverage modern channels as primary sources for customer service, especially given our global pandemic. The social team can help offset case volume by effectively prioritizing messaging, routing to the right team, employing chat bots, and more. A bonus to all of this collaboration? All of these activities and its impact is measurable. Considering that it costs five times more to attract a new customer than to retain one [3], marketers should let a CAC mindset lead to converge brand engagement with customer care experience. Marketers are still able to leverage traditional digital metrics to measure progress (impressions, engagements, clicks), but by first thinking of CAC, new initiatives can be successfully tied to longer-term business results.
By bringing the customer experience to the center of your strategy, defining tests from the start, and holding new initiatives accountable to CAC, you’ll be able to consider new modern channels quickly, measurably, and in spirit to best serve your customer.
Sources:
*Sprinklr Listening Explorer search (Jan 1 2020 – May 1 2020)
[1] Pioneer Square Labs, PSL Studio Kill: Xylo
[2] Frog Design, Your Business, Your CX: Defining Quality and Unlocking Potential
[3] Invesp, Customer Acquisition Vs.Retention Costs – Statistics And Trends
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