The Quest for Loyalty: The Ledges of Low Engagement [EBOOK]
The buzz these days seems to be centered around findings from The Gartner Group, Bain & Company, and others that all point to the increasingly valuable revenue stream that stems from retention through customer loyalty.
While much of the resulting commentary has brought an avalanche of industry attention to the fact that repeat customers spend 30% more on average than new customers, 5% increases in retention can lead to 25% increases in profits (source), many companies are still left with the very real challenge of accomplishing these goals and actually attaining a higher level of customer loyalty.
In our latest blog series, we’re diving into some of the most common pitfalls along the path to customer loyalty and what you can do to make a real impact.
- The Customer Journey Jungle
- The Ledges of Low Engagement
- The Obelisk of Obscurity
- The Island of Insight Ignorance
Conquer these pitfalls, and your brand will be on its way toward more meaningful, lasting customer relationships.
Avoid dangerous drop-offs along the path to purchase.
The Ledges of Low Engagement are treacherous drop-offs hidden along the purchase path, where high-impact customers who are giving you all the clues to what they want, and what they need, drop off your radar—never to be seen again.
In order to proactively identify these customers who need engagement, and act in time, you’ll need to recognize the most common ways in which prospects and customers fall off the ledges, damaging your brand and business in the process:
- Customers with a high-value cart who are left waiting.
- Loyal and returning customers treated with the wrong approach.
- Brands over-hiring call agents because they have failed to prioritize customers.
These scenarios leave higher-priority customers to fend for themselves. In the process, your brand loses both revenue and the opportunity to convert a high-value customer into a loyal brand advocate.
At one point or another, your website visitors will either be ready to buy or ready to bail. LivePerson allows you to identify them during these high-stakes situations, reach out to address their individual emotions, and usher them through the purchase process.
For more details about conquering The Ledges of Low Engagement, including more specific solutions, check out our latest ebook.
Cvent reduces bounces, keeps customers engaged
Cvent is a cloud-based enterprise event management platform, which offers solutions for event planners from event registration through venue selection, event apps, marketing, surveys and more. “… And because our site covers hundreds of types of events, visitors sometimes have trouble finding the information they need,” explains Dave Phillips, Cvent’s senior manager of digital marketing.
For Cvent, the critical goal was to proactively engage top customers and increase conversions. “It is important for our business to engage people in a conversation before we lose them.”
Partnering with LivePerson, Cvent deployed the LiveEngage platform with proactive chat, content targeting, and Click to Call. The results: Greatly reduced bounce rate, a higher-than-expected proactive chat acceptance rate, and significant incremental leads for the sales team.
Read more in our customer success story.
Stay tuned for the next post in the series, where we’ll talk about how to overcome the next pitfall to customer loyalty: The Obelisk of Obscurity.