Chris Baldwin
Chris Baldwin 1 January 2020

Changing Strategies: How to Connect with Electronics Customers

With increasing interest in technologically-advanced products, the consumer electronics industry is facing a rise in competition. A recent study by Persistence Market Research predicts that the consumer electronics industry will be worth $2.9 trillion by 2020. Products are becoming continuously commoditized with revenues and margins declining. It’s now harder than ever for brands to stand out, differentiate from competitors, and bond with customers. In such a crowded industry, the key to success is to nurture engaging, meaningful experiences with each and every shopper throughout the search process.

In short, there are too many products available for consumers to effectively compare specs at scale, so rather than finding the product that is the best fit for their needs, they go with whatever product seems the most comfortable or most in-line with their budget.

It’s vital for brands and retailers to stay on their A-game and deliver personalized, conversational engagement to win over consumers. Leading consumer electronics brands have implemented the following strategies to engage consumers in conversational ways.

1. Direct-to-Consumer - Invest in the owned brand experience
More and more consumer electronics brands are selling direct to consumers to take control of the search experience. In 2017, direct to consumer sales increased by 34%, and that number has continued to grow. The DTC model allows consumer electronics brands to take the reins of the search experience to truly learn about what consumers are buying and why. By investing in the improvement of the search experience, brands can create engaging and compelling search experiences while building long-term relationships with consumers.

2. Retail Digital Media - Leveraging the power of online retailer dominance
Most consumer electronics brands sell through retail giants such as Amazon or Best Buy to reach a larger assortment of shoppers. However, listing products on retailer websites can have serious disadvantages, like standing out against the competition. Retailer websites have thousands of products to choose from and becoming a customer-preferred brand is far from easy.

Using a Conversational Search experience help brands regain back control of how their products are being sold. By producing a quality search experience for the customer, brands can engage and convert up to 211% more

3. Store-Within-a-Store - Mastering the multi-brand store experience
Over 64% of consumers prefer an in-store shopping experience where associates can provide in-store service through digital technology. Because the in-store retail space focuses more on varied brand inventory than specific branding, it’s easy for consumer electronics brands to miss conversational opportunities with customers.

Brands are getting creative with brick and mortar retailers, finding innovative ways to connect with consumers in-store through relevant, guided content. Tools such as store-within-a-store pop-ups and conversational search kiosks are gaining popularity because they offer exposure to brands in a familiar retail space.  

4. Deep Personalization - Understanding and delighting consumers
Every consumer is different, so they should be treated as individual shoppers throughout their search experiences, not as a mass. Consumer electronic brands are recognizing the value of understanding their customers, as it’s a key component to drive brand and preference loyalty. With technology and AI on our side, brands can use third party solutions to gain access to critical insights to purchase patterns and product performance. This valuable information can help brands customize their offerings for consumers.

5. Post-Purchase Strategy - Solving customer queries faster
With customer loyalty come online reviews and long-term support which is why a seamless after-sales strategy is imperative. In such a crowded market, leading brands see potential in artificial intelligence to support both its customers and its support team to improve its after-sales strategy. With 24/7 troubleshooting and support, engaging customers after a sale turns good brand experiences into great brand advocates.

Check out this free whitepaper to find out more!

Hardik Gala
Hardik Gala

At Engati, we are deeply embracing automation and bots to help businesses dramatically enhance their customer experience and achieve faster growth. That’s why we help you build an intelligent chatbot that automatically and instantly resolves your customers’ most common questions.

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