The Customer Engagement Recap - June 19, 2015

By Brandon Carter | Updated on Jun 19, 2015 9:00:00 AM

Customer_Engagement_Recap_-_June_19

 

Finish off this week with the news (and news you may have missed) that's going to impact your customers in the coming weeks and months.

 

In this week's customer engagement recap:

  • More low-income Americans to get high-speed internet thanks to FCC
  • Millennials' banking habits could make Wall Street obsolete
  • The Number One Killer of Customer Loyalty Is…
  • Facebook’s News Feed Algorithm Relinquishes Control Of What We “See First”
  • 10 Reasons Why Discount Programs are Worth Your Investment

 

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  • More low-income Americans to get high-speed internet thanks to FCC (The Guardian)

Did you know less than half of American households making under $25k/year have internet access? That could soon change thanks to government subsidies of broadband bills. This has major ramifications for education, health, and access to information that could change family fortunes. There are less-important implications for marketers, such as a new demographic entering the online marketplace, but everyone can agree this is a net good. 

 

  • Millennials' banking habits could make Wall Street obsolete (Business Insider)

How much do Millennials loathe banks/love Google & Apple? Nearly half of them would be willing to ditch the financial institutions and trust (even more of) their money with the tech giants. With payments and even traditional banking being hot spots for Silicon Valley startups, the lumbering giants at the traditional banks are going to find themselves in a tough spot with a generation soon to wield a ton of power (and moolah).

 

While price and shoddy products are repellent to customers, a poor personal experience with an employee of a brand is the quickest way to kill any good will they might have. The data backs it up, especially in the dual bleakness of employee engagement statistics and customer loyalty statistics.

 

  • Facebook’s News Feed Algorithm Relinquishes Control Of What We “See First” (TechCrunch)

Stalking friends - and brands - just got a little bit easier on the world's largest social networking site. While the feature is nice for individual users, it also provides yet another call to action that marketers will have to attempt to get across in an attempt to stay in front of their own fans. 

 

Look, don't get me wrong, free stuff is fantastic. But speaking as a marketer, I'm very skeptical of a service claiming to market my brand to consumers for free.

As the saying goes, if you're not paying for it, then you are the product. 

It's even worse with free discount programs. With those, its the customers serving as the product, on behalf of your brand. Yeah, taking care of customer relationships is worth the investment.  

 

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Topics: Customer Engagement, consumer trends

Written by: Brandon Carter

Brandon is a writer and marketer for Access Development. He's a frequent blogger on customer and employee engagement & loyalty, consumer trends, and branding.

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