Customer Insight and Engagement
The current paper tends to discuss about significance of customer insight and its significance in the contemporary competitive business environment that is helping the companies to meet the business objectives. This paper therefore also focusing towards identifying and delivering some of the most critical aspects to provide sophisticated sets of business development framework to enhance the competitiveness. This paper has therefore able to contribute towards wider ranges of frameworks associated with customer insight development in a much appropriate and effective manner. Moreover, this paper has also focused towards the identification and analysis of ethical factors in widening the business developmental frameworks more efficiently.
Table of Contents
In the contemporary business environment, the concept of customer insights is becoming said to be the most vital component that broadens the scope for overall business performance. It not only contributes towards maintaining a higher degree of customer engagement strategies but also helps in widening the scope intrinsic to the overall business success. In this respect, the inclusion of proper sets of customer insight programs is allowing the businesses to think out of the box to retain and acquire a higher number of customers towards the companies (Terho et al., 2017). This paper is therefore focusing on the understanding and the analysis of customer insight programs and their importance on the overall significance of customer engagements for broadening the business performance. For this perspective, the current paper has selected health and Wellness services that are going to be established at Headington Oxford, United Kingdom. This location is very much nearer to that of Oxford Brookes University. In this perspective, the company is selecting college and university students as their regular customers.
2.0. Critical discussion on the role of customer insight and engagement
2.1. Rationale for selecting target segments using proper Customer Insight Research methods and tools
Today, the importance of customer insight is repeatedly growing towards providing some of the most vital significant contributions towards developing more excellent content. These factors are not only helping the companies towards widening their scopes for overall business performance but also widening the business competitiveness by satisfying the customers (Zolkiewski et al., 2017). The selection of the university and college students as target customers within the market is undoubtedly an effective strategy for the company to widen its business effectiveness. The rationale behind the selection of college and university students is based on the location and business enhancement perspectives in a much efficient and effective manner.
It is very much significant in this respect to understand the impact of customer insights on overall business performance; it is essential to develop a proper set of customer insight research methods and tools. At the same time, they are researching the importance and the significance of customer insights for enhancing the business efficiencies for health and wellbeing services that are growing at 5 to 10 percent each year. This rapid growth of health and wellbeing perspective is because of increasing awareness of the importance of wellbeing in daily life. This percentage is also growing at a rapid rate in the UK, with over 40 percent of people considering that wellness is very much significant in their daily healthy lifestyle (Rahimian et al., 2020).
With the above-mentioned market growth prospects of health and wellness centers in the United Kingdom, newly launching or re-opening Gyms are indeed very much market-friendly and effective to gain financial profitability. While doing so, an appropriate set of customer Insight research is also very much essential and effective to deliver enhanced business strategies. From these perspectives, the concepts of Customer Insights are very much significant and necessary to understand the changes in the market and their impacts on business performance and customer engagement. Proper market research helps in gathering various relevant data on customer behaviors using a number of marketing and customer engagement models and frameworks on focus groups, stakeholders, and the market research perspectives (Iankova et al., 2019). This market research, therefore, helps in generating a tremendous amount of information relating to customer demands and the changes in the marketplaces in a much appropriate and efficient manner. Hence, the concept of customer insight is firmly generated from the proper engagement of customer and market research relating to the effectiveness and relevance of products and services and their demands in the market. This issue not only helps in widening the perspectives of explaining the problems of “Why” behind statistics but helps in enhancing the brand values of companies like Gyms which is going to open in the locality of Headington, Oxford, United Kingdom. While there are a number of methods and techniques available for a proper and efficient mode of customer Insight research, surveys are indeed very much essential and effective to gain a higher number of customer engagement and enhancement of procedures for tackling customer research questions. This ultimately plays a crucial role in more complex sets of research methods to gather a higher number of information relating to the services and products that the Gym is providing or willing to provide (Koljonen, 2021).
2.2. Role of Digital and Social Media Networks in CRM for business effectiveness
Today with the growth of technology and engagement of social media in the business performance and the attention of the customers, companies are rapidly incorporating the same in the business operations. In the issues of customer relationship management, the importance of digital media and the perspective of digital advertisement is undoubtedly developing and enhancing the customer insight framework more appropriately and efficiently. Digital and Social Media help the customer relationship management provides the companies, including the Gym that is going to open in Headington, Oxford in Post-Covid period will help the company to access their information. It also strengthens the customer relationships with the brand and contributes to the overall development of the brand. From another perspective moving the entire framework of CRM towards social media is undoubtedly going to be beneficial because it is where customers are living now. It will therefore provide space for getting closer to customers using proper sets of connection development and engagement anywhere at any time (Rotar and Kozar, 2017).
It will also help the company to cut its overall operational cost and help in becoming more efficient. The combination of rapid feedback and responses using digital and social media are also some of the most effective sets of opportunities in the hands of companies like Gym that are going to be benefited in a much more efficient and effective manner.
3.0. Building compelling customer insights and engagement strategies
3.1. Customer Journey
While developing an appropriate set of customer journeys, the company must enhance some of the most critical and essential factors. These includes:
- Identification of customer pain points: The Gym that is going to open in Headington, Oxford, UK, must ensure efficiency and effectiveness regarding the importance of health and wellness (Holmlund et al., 2020). The company, in this respect, just needs to incorporate the growing customer awareness relating to wellbeing, especially after the covid period.
- Improving customer retention: The company must also need to work towards widening the scopes for customer retention procedures using a number of methods and frameworks. The digital media and social media inclusion for both developing relations as well as delivering information relating to the products and services appropriately to the customers will provide benefit in customer retention procedures.
- Improving the marketing efforts: In this perspective as well, the company must need to incorporate the digital media inclusion procedures and widen the scopes for business profitability to a much appropriate manner (Ancillai et al., 2019).
- Typing to understand the customers better: This requires proper incorporation of customer insight frameworks to develop the touchpoints of the customers. This will also help the company to understand the customer buying decisions and changing market and customer requirements more appropriately and efficiently.
3.2. Customer persona
This is also one of the most critical components in the contemporary competitive business environment to retain a higher state of market efficiency. While doing so, the company must also need to follow:
- Identification of the target customers: This is undoubtedly one of the most critical factors to widen the scopes for pinpointing the target customers more firmly to develop a big-picture approach and customer segmentation. This will also help the customer segmentation using proper demographics, including location, age, gender, and interests.
- Identifying the customer requirements: This stage will also contribute to the company developing its scopes for widening the business performance and customer persona. The goal of this stage is to put the company into the customer’s shoes and look for creating a detailed profile of the customer. Only through this way can customers be attracted and satisfied using a number of products and services (Chen et al., 2018). Customer personas in this respect must question, customer’s age, marital status, job titles, hobbies, life goals, values, health issues, medical restrictions. Each of these factors will help in understanding the number of factors associated with customer engagement for a much more extended period of time.
Figure 1: Customer Persona
3.3. Customer value Proposition
The concept of customer value proposition is undoubtedly becoming one of the most vital and significant components that widens the scopes for growth in the marketplaces. It also widens the measures for developing the products and services to sell or to distribute in the market, that conveys the messages of what the offering is solving, that benefits its overall searching. For this, some strategic components need to be followed by the company that is going to open in Headington, Oxford, United Kingdom. These includes:
- Identifying the customer needs: This process will also widen the scope for managing the business performance and helping in identifying the needs of the target customers, according to which the company can enhance its offerings and meet the requirements (Vieira et al., 2019).
- Turning the features of the products into customer benefits: the company can work towards “What’s In It For Me?” That is most important in contemporary times to develop a powerful value proposition that summarises the emotional appeal of the products and services that the company is going to offer.
4.0. Chosen customer segments and intended tools and techniques for acquiring new customers
There are a number of tools and techniques available for understanding and developing the perspectives of customer insights and enhancement of business performance in a much appropriate and efficient manner. These tools and processes associated with the development of customer insights can be understood using three broader perspectives, includes.
- Qualitative Research tools: This tool strategically works towards the enhancement and development of Business to Customers perspectives in a much appropriate and efficient manner. While doing so, this tool utilizes tools such as Observation and Ethnography, Individual depth interviews and focus groups, projective techniques (Hole, Pawar, and Khedkar, 2019). These techniques help the company to understand the customer engagement and enhancement of customer insight frameworks more firmly and appropriately
- Qualitative Research Tool, B2B: This Business to the Business model of customer insight also widens the scopes for enhancing the business performance and the engagement of the customers in a much appropriate and efficient manner. These include Customer visit programs, customer advisory panels, outcome-focused versus solution-focused approaches. These also work firmly towards the engagement and enhancement towards widening the customer engagement and drive the company towards the achievement of its business objectives.
- Quantitative Tool: This tool is also working strategically towards the enhancement and development of customer insight more appropriately and efficiently. This tool incorporates strategic market research for customer segmentation, targeting the proper understanding, conduction of ingenious experiments, pricing methods, products optimization process, appropriate conjoint analysis (Daugherty, Bolumole, and Grawe, 2019).
There are a number of other tools also available in the overall enhancement of customer insight framework, these includes:
- Formplus Surveys,
- Google Analytics
- Youtube analytics
- Facebook Audience Insights
Figure 2: Customer Insight tools and techniques
Each of these tools is strategically contributing to contemporary companies in widening their business performance and engagement of customers more appropriately. For the Gym, Health, and Wellness center that is going to be opened in Headington, Oxford, UK, the incorporation of these tools is undoubtedly very much effective and appropriate.
4.2. Role of tools and techniques for enhancing customer insights and acquiring new customers
Each of the tools helps the companies to widen their scopes for enhanced customer insights and contributes towards delivering proper sets of customer satisfaction in a much appropriate and efficient manner. These roles of tools and techniques for enhancing customer insights include:
- Helping an appropriate set of interactive paths for developing the buyer’s journey. This will result in a proper understanding of customers preferences, expectations, and needs using different approaches (Jermsittiparsert, Sutduean, and Sriyakul, 2018)
- Using the tools included in the Business to Customers will also help the company towards customizing the products and personalizing the same for helping towards better connection with the audiences.
- The inclusion of proper tools relating to customer insights also helps in identifying new trends and developments within the industry. This also works firmly towards managing the workforce more firmly to develop the customer interactions with the products and services. Such factors will also guide the company towards managing the customers and may also provide information about the market competitors and the way they stand out in the market competition.
- Tools and techniques also help in developing the bridge between the customer feedbacks to marketing publicity and revenue
Today with the growth of business digitalization, both companies and people are actively incorporating a number of methods and perspectives to broaden the ethical considerations. This not only helps the company to include a higher number of customer engagement but also helps in enhancing the business competitiveness in a much appropriate and efficient manner. Ethical perspectives on overall enhancement and development of customer insight play a crucial role by knowing the customers and consumption culture to enhance the business performance in a much appropriate and efficient manner. Moreover, the company is also improving its scopes for satisfying the needs and the needs of the customers (Ghoshal, 2019). These factors, in contemporary times, cannot be happy unless the companies are able to understand the customer requirement and fulfill the ethical considerations.
Therefore the role of ethics in customer dealing is widely contributing towards managing good light, and customers will trust the company despite having a significantly higher number of prices and minor service lapses. Moreover, the engagement of ethical practices in customer dealing is also helping in improving the quality-of-service delivery and sisters the positive relationships more firmly and appropriately towards business competitiveness. Such moral principles associated with ethical practices are also broadening the scope for governing the company in terms of customers’ needs and fulfilling the demands of potential customers (Lavery, 2018). The maintenance of honesty with the customers is undoubtedly very much crucial in the contemporary competitive business environment to widen the scopes for business enhancement.
Customer data privacy in contemporary times remains one of the most vital factors within the ethical consideration perspectives. This is because the role of customer data privacy in marketing is rapidly growing. Today with the growth of digitalization, companies are actively engaging towards the management and enhancement of privacy concerns are also diminishing the growth perspectives of businesses and brand values to a much more significant aspect. From these perspectives, despite having the growth in digitalization, the risks of data privacy concern indeed remain a vital issue (Heinonen, 2017). Hence the factors and government regulations using General Data Protection Regulations or GDPR are actively helping the companies towards minimizing the problems of ethical conflicts and reduce the issues of honest data privacy in a much appropriate and efficient manner.
6.0. Critical inquiry for assessing the effectiveness of marketing plan
The current assignment has focused strategically on the development of customer insights for the company that is going to open in Headington, Oxford UK, for providing health and wellbeing centers for promoting health-related awareness and Gym facilities. While doing so, this paper has also focused on the management of the number of marketing and customer engagement procedures that are helping it to launch and to recruit as well as to retain a higher number of customers for overall business efficiencies. In this assignment, a fundamental and strategic analysis relating to the development of customer insights has also been developed that focused on the maintenance and the enhancement of products and service delivery and satisfaction of the customers (Hamilton and Price, 2019). It has been observed that the growth of customer insights is actively supporting the services and products that the company is going to offer to its customers for their recruitment and retention. It also helps in utilizing a significantly higher number of financial profitability and engagement of customers. It also works towards the development of customer services to work towards retaining the customers and extracting more value from them.
While doing so, it is also essential to understand that building relevant and enhanced customer insights and effectiveness are also providing a higher number of customer engagement procedures and widens the business competitiveness. Ethical concerns in this respect are also becoming a significant issue of matter that is contributing towards the management of business efficiencies and enhancement of business growth perspectives to a much more effective and strategic manner. Ethical issues in this respect help in broadening the scope for business competitiveness and widening the area for business enhancement in a much more rapid way. But not following the ethical issues and considerations properly hampers losses in the businesses and impacts the overall brand image development of the companies (Alvarez-Milán et al., 2018). Therefore the Health and Wellness center that is going to be opened in Headington must work actively towards the management and enhancement of all the ethical as well as marketing characteristics more firmly to engage with a higher number of customers and to retain them for a more extended period of time.
From these perspectives, the framework of Customer Insights and customer engagement are indeed becoming some of the most basic and practical sets of attention towards brand development. The growth of business competitiveness is also providing sophisticated sets of business engagement and customer service delivery frameworks to the companies. Therefore the health and wellbeing center that is going to establish in the Headington of UK must also develop its marketing and business plan according to the customer requirements to fulfill their needs and demands. Only through this way can a company manage a higher degree of customer engagement and retention of these customers for a more extended period of time (Hole, Pawar, and Khedkar, 2019). The growth of health awareness within the UK population must need to be utilized and channelized by the company towards its brand effectiveness and competitive advantage in the current post covid business environment.
In conclusion, it can firmly be sad that customer insights are remaining most vital and strategic components in the hands of companies to compete in the globalized business environment in a much effective manner. Moreover, the concept of customer insights are also providing enhanced frameworks to the companies for proper market research and develops appropriate sets of buyers persona, value proposition, and strategies to overcome marketing challenges in a much fair and efficient manner. In this respect, the current assignment is able to deliver the objective of the paper regarding the growth of business using a proper implementation of customer insight frameworks.
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