Continual product improvement increases post-purchase engagement and transactions
When we consider how much more expensive it is to acquire new customers than it is to retain existing ones, it pays to create best-in-class post-purchase engagement. Each fortnight, this loyalty series will track our predictive consumer trends that meet your customer engagement questions. We will dive into three trends for 2019. First we looked at how to retain customers building long term loyalty, today we explore how to grow the frequency of transactions and the next topic is encouraging brand advocacy.
Continually upgrade to promote post-purchase transactions
To help avoid customers hitting the “cancel” or “return” buttons, brands can look for inspiration on how to create post-purchase positivity from the emerging Internet of Things (IoT) era. It’s becoming normal for connected devices – from vehicles to household appliances to smart assistants – to routinely upgrade and improve weeks, months even years after purchase.
Take, for example, the Amazon Echo device. Owners of the smart speaker will be familiar with the weekly email notifications alerting them to new product features. This ranges from new Skills to new question configurations that Alexa will now understand and respond to. More, new features often neatly relate to topical events or the changing season. For example, during the 2018 holiday season, emails invited users to make the most of the festivities. This included organisation (“Alexa, create a Christmas dinner shopping list”) and teaching new Skills (“Alexa, teach me French”). This increased use of the device also leads to improved transactions on it, and the likelihood that consumers will pay to unlock more functionality.
Sizing the market
What this means for post-purchase engagement
Beat buyer’s remorse and improve post -purchase transactions with rolling product upgrades. That products reach their peak performance some time after POS is a message many will welcome, especially those maximisers who seek post-purchase reassurance that money has been well spent. In the case of unconnected objects, brands are embracing the allure of endurance. Retailers such as H&M are testing in store product care and repair services such as Take Care in Paris, or market new ways to use products. Rather than buying new, post-purchase transactions enhance the products already owned.
Weeks, months, and even years after purchase, the customer can always be encouraged to engage afresh with the product. Upgrades make paid-for add-ons positive, improving the functionality of the the product or platform now supports.
This is the second installment of a Future of Customer Engagement series published every fortnight. The first installment on Customer Retention is on our blog or Log in or request a demo to Foresight Factory online to see all the trends and data driving post-purchase engagement.