The Engagement Economy

Engagement Economy is a newly introduced concept for Digital Marketing. This can be considered as an outcome of the digital transformation that happens in the digital marketing scenario. The digital transformation has its effects on all those who are associated with digital marketing – the marketers, customers, prospects, partners, employees and others.

The future of all businesses depends on digital transformation and if a company wants to thrive, it should take the risk of digital transformation. Digital transformation enables the marketers to ensure their customers personalized purchasing experiences as expected by them. The marketers should act with futuristic outlook for the success of their business within the environment of Engagement Economy.

This new concept is based on the real fact that for any business today, the buyers are well informed and as a result they are more selective about the products and choosier about the brands. Today’s buyers straight away opt for the brand which is able to convince them at a personal level that it is made exclusively to meet their specific requirements.

Engaging the customers

In these days of Engagement Economy it is imperative for all marketers to deliver authentic and personalized experiences to the customers consistently. This is the only way for marketers to win the confidence of the customers.

The marketer should devote their time for listening to the customers across different channels to understand their needs and preferences and based on what they could understand they should provide the experiences to the customers.

The marketer should bear in his mind that the customer comes to him in search of experiences and not in search of products. Hence engaging the customer in the most proper as well as effective way is the best method to win the heart of the customer. When companies pass through the days of digital transformation they should make it a point to provide the customer exactly what he requires. Only this approach can enable the marketers to survive, succeed and flourish.

Future course of marketing

The Engagement Economy provides the marketers a wide range of digital channels to access their customers. Technology takes the marketers to these channels.

A complete digital infrastructure is a vital requirement of all businesses. Marketing management is undergoing tremendous changes as a result of digital transformation. In future, the marketer has to engage the customers with the help of technology.

The marketer will be accessing the customer across different channels to listen to him, learn from him and then engage him. The marketer should ensure to implement immediately what he learns from the customer. The marketer should take all necessary steps to translate his actions in to creative interactions with the customer so as to provide him the experiences that he expects.

All activities of the marketer must be carried out at scale to engage any number of customers and devices every day.