This Is The Most Popular Channel For Luxury Buyers

luxury brands

Approche Sur Mesure group (ASM), the French Customer Service Centre specialising in luxury brands, recently published the 2018 benchmark of their 70 luxury and premium brands using 2,746,898 contacts.

Standing out from their data is the fact that despite e-commerce representing half those researched, the phone remains the most popular channel used by luxury customers.

ASM found that 53 per cent of their buyers choose to dial in over all other modes of communication including chat, email and social media.

There are multiple reasons both psychological and monetary as to why buyers prefer to hear a human voice, consumers attach emotion to goods that are considered more expensive because they are associated with social values.

“We will often purchase luxury items to show off to or gain acceptance from others and to reward ourselves for an accomplishment,” writes Investopeida.

The more money involved means higher stakes and due the steadfast perception that robots will mess up, it’s easier to relate to a human when both money and emotions are invested in a purchase.  

In addition to these findings, the group noticed an increase in customer complaints and pre-purchase calls. According to Approche Sur Mesure founder François-Xavier Poels, “this represents an opportunity for brands to catch up, to retain or convert new customers.”

Here’s What Makes A Good Mobile SDK

Mobile SDK

A software development kit (SDK) is a way to enrich an existing system with advanced functionality, meaning it is a kit that provides tools for developers to create applications on a specific hardware platform or within a software framework.

Mobile SDK

A mobile SDK allows users to create dynamic apps for either desktop or mobile. Developers would rely on the best mobile SDKs to build applications that are both robust and reliable.

According to Statista, “in 2018, 52.2 per cent of all website traffic worldwide was generated through mobile phones,” with almost 2 million apps available through Apple and Android portals. There is significant competition in this space due to the rapid growth of the smartphone market – developing apps that stand out is often down to the quality of the SDK used to create it.

What makes a good Mobile SDK?

Security

A good kit would have an excellent track record of security; meaning no backdoors or untoward intentions for your customer’s data, like bagging their information through app permissions.

Easily Integrated and sustainable

Integrating a mobile SDK into an existing app should be easy, if it isn’t then you may need to reconsider your provider. It should not take a ton of time or man power to integrate an SDK, at the most a few hours.  

Additionally, ensure that the app built using the chosen kit does not drain a consumer’s battery.

What Is Self-Qualification And When Do Customers Hate It?

self-qualification

Self-qualification in a sales/marketing sense simply means a lead that wants to inform themselves by doing individual research without prompts and nurturing through targeted campaigns and follow-ups.

These days, buyers have a very varied path-to-purchase with a huge consideration stage involving multiple channels, comparisons, peer reviews, searches and sharing.

An example of this would be a real estate prospect’s experience. They will visit multiple property portals online before settling on an agency or a collection of properties they want to pursue. According to Inside Real Estate “90% of all home buyers start their home search online, and are more likely to communicate via the web.”

For a brand, knowing, when to step in and bring them over to your side, is down to how the data (acquired from touch points along the way) is analysed. Customers will call or reach out when they need you. The onus is on a brand to make sure there is enough relevant and targeted content within that time period.

When customers call

At this point, customers have researched and settled on options. The calling process should be as smooth at the online journey. However, often the calling process for customers is rife with IVR issues and the kind of self qualification they don’t like, which involves a myriad of numbers to press and drawn out call queues.

In summary, the best self qualification is the one where customers feel empowered and informed about a brand on their terms, with helpful and targeting care along the way.

The kind they hate? An outdated IVR process that requires them to do all the work to close a sale.

Do You Need To Update Your Lead Management Tools?

lead management tools

Creating healthy relationships with a large pool of digitally-led customers can be difficult to tackle, but lead management systems are making leaps and bounds.

According to Inside Sales, “Research shows that 35-50% of sales go to the vendor that responds first.” When future proofing your lead management system which tools should stand out above the rest to ensure a rapid conversion?

Is there enough automation?

Using the time to individually qualify each lead by sifting through resources is a waste of it. Automation has revolutionised how leads are processed, allowing sales and marketing teams to create customised interactions with prospects, without the need for manual involvement. It works by removing any roadblocks during the conversion stage using workflows to shorten the sales cycle and target audiences with accurate data.

What about segmentation?

Segmentation is simply a process that defines who receives the appropriate information and when. Integrating a segmentation process into a CRM is a benefit to any brand because it organises pools of data in a way that creates trends and patterns while also eliminating silos.

Is there a customisable option?

Every company has a mode of operation that differs from another, it’s important that a lead management system has customisable features in its arsenal. An efficient setup would be able to scale according to demand and adapt workflows and other features specific to a company’s needs.


Experiment: Does “Click-to-call” Improve Call Quality?

call quality


The customer is in the insurance industry and website visitors are invited to call an agent in their contact center.

What would you expect to happen:

  • Will the number of calls go up or down?
  • Will the call be more valuable or less?

On the one hand, it would seem obvious that adding an extra step to reveal a phone number adds friction. So surely that would deter some people and reduce the number of callers? Maybe the people who do call are more likely to buy.

On the other hand, psychologists tell us that people making micro-commitments are more likely to follow that up with a bigger commitment. So maybe that means visitors will be curious to see what is behind the button, and then — to be consistent — call that number.

Let the data decide.

The Experiment

The customer’s original call to action just displayed the phone number. This was our control that we compared to three alternative treatments. The treatments hid or partially hid the phone number until the visitor clicked on a button.

The experiment ran for a week and 11,600 unique website visitors sessions were randomly and evenly split across the four versions.

Result 1: Call Quantity

Hiding the phone number, increased the number of calls over 1 minute by 11%. Partially hiding the phone number, decreased the number of calls by 24%.

Result 2: Call Quality

The customer knew that calls over 1 minute were people most interested in buying. So we analysed the calls over 1 minute as a way to measure call quality.

Partially hiding the phone number, had almost no effect on the number of calls over 1 minute.

Hiding the phone number, increased the number of calls over 1 minute by 32%.

Conclusions

For this insurance customer, adding a “Click-to-call” button is beneficial. There is a very high level of confidence that both the quantity and quality of calls are higher.

There is an additional benefit. Only showing Freespee dynamic phone numbers to visitors that click the button is much more efficient. Numbers are only allocated numbers to the visitors who have shown an interest in calling.

Your results may vary. Even if it seems counter-intuitive to you, try this experiment for yourself and see for yourself what effect “Click-to-call” will have.


The Problem With Third-Party Feedback Systems

third-party feedback systems

If a company’s success revolves around the day-to-day happiness of customers then asking them for relevant feedback is a good way to clarify what they want. In this day and age, most people don’t want or have time to fill out long forms or surveys, no one likes homework.

Creating customisable feedback workflows that get to the point of what the company needs to know and what the customer wants to say is the sweet spot. However, using third-party feedback platforms can create a separation between brand and buyer, and take away the ability to manage that connection. Let’s look at a few reasons why a third party route might not be best.

The timing is off

Delayed feedback is problematic. Why? Because timing is everything when it comes to responding to customers. The ideal practice is to reach out within 24 hours but many companies rely on costly third-party feedback systems to manage this process which can take longer.  

They also usually have a generic structure which sends out survey emails to customers, sometimes more than a day after an interaction.

Lack of visibility

This correspondence doesn’t always contain the context of what transpired between the company and their customers – leading to a lack of visibility over which channel influenced the commentary.

Reluctance to integrate

Adding to this, data collected by a third-party system tends to not be integrated with the customer journey, therefore analytics can be inaccurate. Feedback data shouldn’t be out of the loop.

How do we solve this?

There are established systems using urls, call recordings and other features, that can create a 360 view of the customer journey and easily integrate vital feedback data into a dashboard. It depends on whether a company requires this level of functionality or not. Frankly, it’s less costly to have it all in one place.

Before updating a CRM system, consider the impact of customer feedback on the growth of a brand, this can be done by ensuring that this data is always embedded in the original customer experience.