Every product has a customer engagement strategy and it is crucial to know about these strategies so you can understand what engagement strategy your product falls in. Having this information is going to help you to create a better growth framework for your product and you will be able to develop a precise strategy to hit your customers.
There are 3 strategies, transaction, productivity and attention. You could say that your product has all of them, but it is really important to understand which one fits best. If you try to develop a framework for all of the customer engagement strategies, you will be chasing too many rabbits at the same time and you will not catch any.
The products which fall into Attention strategy aims to make customers stay longer in their platforms. Of course, they are not going to be spending their precious time in your platform for nothing, you provide amusement, entertainment, information or emotional peace. Social media and gaming are good examples The more you stay on their platform, more advertisements they show you which leads to higher revenues for them. So any type of business that tries to keep you long in their platform and shows ads, falls under this category.
In order to provide better value to your users, you should understand that content is the king. You need to provide them with tons of content that will make them keep coming back. In order to have a user level understanding of your customers, you can get a deep insight into their behaviours by using a product analytics tool.
Main goal is to maximise the amount of time customer spend on your platform
If your product is aiming to provide a hassle-free way of completing an existing task of a user, then it falls under the productivity. If this sounds like your product, then you need to make sure that your product is optimised in a way that it can solve your user's problem quickly. Unlike in attention strategy which I described above, time spent on your product is not something you should look for. It could imply the inefficiency. This customer engagement strategy is usually predominant in B2B.
Companies in this category should prioritise two things. First one is being user-friendly, the product should be easy to adept and your user should be able to use it without extensive training.
The second important thing is that your product should be efficient. Your users should be able to complete their tasks like they are expert at what they do. Your product should give them a feeling that they have mastery over the task they are working on.
Your product should help your customers to complete an existing task in a most hassle free way
The best example of this strategy would be an e-commerce company. Transaction strategy is built around the idea of providing you with a reliable and efficient way of purchasing a product. Time spent on your platform is not relevant therefore you do not really need to track it.
There are two ways companies who are using transaction strategy can provide value for their customers. First one is, focusing on the utility part of the game. Meaning that you focus on providing a good price and ease of shipping, you could say cost efficient shipping as well. A good example of that would be Amazon.
The second way of providing value is that you become more of a niche company or exclusive. Unlike the utility strategy, your customers are less price sensitive but fulfilment plays a big role as well, you should focus on fulfilment and gain the trust of your customers. A good example to that would be Peloton Bikes ( I am using one)
Provide a platform for your customers where they can make a purchase with full confidence
So now you know the customer engagement strategies, you can try to match your product to one of these and try working on your strategy to maximise your customer engagement.
Provide a platform for your customers where they can make a purchase with a full confidence