Reach3 Insights, in partnership with Rival Technologies, today launched a consumer insights tool specifically designed to help brands better understand how to retain customers gained during the COVID pandemic.
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“Keep your COVID customers: How Brunswick is leveraging mobile messaging-based conversational insights to nurture the next wave of brand advocates”
New Customer Experience enables brands to more effectively monitor the needs of new customers and respond rapidly to shifts in attitudes and perceptions by engaging directly with consumers and providing an ongoing communication channel for capturing in-the-moment insights.
The solution leverages Rival’s mobile messaging-based insights technology, allowing brands and marketers real-time access to both projectionable quantitative data as well as rich photos, videos and other more qualitative inputs, submitted by consumers, to help bring to life their needs.
New Customer Experience was developed in response to research performed by Reach3 Insights, using Rival Technologies mobile market research platform, that indicated 45% of U.S. consumers had shifted brands during the pandemic, with 85% of these consumers planning to stick with their new purchase decisions.
“The results of our ongoing COVID research clearly show that there were both winners and losers as a result of pandemic behavior changes, with many brand switching behaviors sticking,” explained Matt Kleinschmit, Reach3 Insights Founder and CEO. “This shows how brands that can quickly adapt to evolving consumer routines can steal share even during extreme market volatility, and also highlights how important it is for companies to have a tool in place that enables them to better anticipate the needs of both tenured and new customers so they can ensure they too don’t lose share to the next brand that comes along.”
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Companies like Brunswick, whose boating group has enjoyed a massive influx of new customers during the pandemic, are using New Customer Experience to drive deep, immersive ongoing learning with new customers so they can better anticipate future, unmet needs and prevent future churn. There is an entirely new set of customers with entirely new expectations and notions of what their experience should be, and New Customer Experience enables in-the-moment understanding of their motivations and expectations so that Brunswick can increase loyalty, advocacy, NPS and retention, map the “new” path to purchase, identify points of friction during the purchase journey, and track how consumer needs and preferences change over time.
“Prior to COVID, new customers followed a familiar path to purchase. COVID introduced us to an entirely new cohort of end-consumers – a unique segment of end-consumers who are a real catalyst for change,” said Larisa Mats, Consumer & Market Insights Leader for Brunswick. “It was imperative to deepen our understanding of this new segment and develop a plan that builds trust, loyalty and ultimately long-term customer value.”
“New customers are increasingly difficult to secure. The cost of acquisition is skyrocketing,” added Andrew Reid, CEO of Rival Technologies. “The ability to rapidly engage and retain new customers on mobile is mission critical. Traditional, email-based methods may actually harm those new relationships. We developed this solution to feel less like a ‘test’ and more like a meaningful mobile engagement that new customers crave.”
Reach3 Insights and Brunswick will be presenting more details on this unique insight solution at this week’s Quirks Chicago Marketing Research conference this Friday, October 1 at 10:30 a.m. CT during their session “Keep your COVID customers: How Brunswick is leveraging mobile messaging-based conversational insights to nurture the next wave of brand advocates”.
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