It’s easier to repurpose past clients than to find new ones
Whether you’re an e-commerce shop, a small "brick and mortar" boutique, or a major retail chain, you should never overlook past customers and clients as a potential source of future revenue. In fact, it’s often easier to remarket to your past clients than it is to generate new business leads.
Your past customers are invaluable, in that they already understand your product or service, they have had personal interaction with your brand, and they have likely developed an opinion about your product and its ability to satisfy their needs.
As we’ll see, sometimes all that is needed is for your company to re-introduce itself, reminding the customer about your product. Other times, you’ll need to do some harder work, changing customers’ opinions and perceptions about your product and its ability to satisfy their needs. Both of these paths achieve the ultimate objective…
Only 16% of companies focus on retaining a customer when all data points to the fact that acquiring a new one is at least five times more expensive.
In this modern digital world, with fleeting loyalties and diminishing attention span, brands and businesses are continuously trying to come up with new plans and ideas to keep their customers in the fold.
Today, this is largely driven by the data an organization can collect on its customers. Thanks to the proliferation of the internet and social media, much of this information is available freely. Brands are now studying customers’ behavior, expectations and motivations to learn more and more about what goes into their purchase cycle.
A large part of this is trying to engage with the customer once the purchase has been made. One common mistake that most brands (especially those in the e-commerce sector) make here is assuming that the customer will re-enter…
For digital marketers, it’s the actions (or lack thereof) that our customers take that speak the loudest.
The latest neuroscience research is crystal clear: it’s our emotions, not our intellect, that drives our decisions. As Nobel Prize-winning behavioral economist Daniel’s Kahneman’s characterized in his book, ‘Thinking Fast and Slow,’ the intuitive parts of our brains work super fast, like on ‘autopilot’, while our reflective frontal lobes plod along methodically, like a ‘pilot’.
For digital marketers, of course, it’s the actions (or lack thereof) that our customers take that speak the loudest. So we need ‘full spectrum’ tools — ones that capture, analyze and report on everything from affect to action.
The good news is, with the latest tech, we can now scientifically measure whether or not our ‘stimuli’ (our marketing creative, user experience designs, etc.) are generating both the intended effect and affect.
Digital marketers need experience-based metrics
If you’ve been a digital marketer for more than a quarter, you know your key performance metrics by heart - things like Cost Per Acquisition (CPA), Marketing Qualified Leads (MQLs), Return on Ad Spend (ROAS) and, of course, Conversion Rate (CR). These are what I call the ‘hard’ marketing metrics - the ones associated with money.
But there are other ‘soft’ metrics you should be tracking as well - ones related to the customer experience you’re providing. Why? Because they represent the feelings that ultimately cause your visitors to click that call to action or complete a purchase.
It has become increasingly clear over the past few years that fast-changing consumer expectations and rapid technological advances have raised the bar. ‘Good enough’ no longer is. To survive - and, ideally, thrive - you need to know…
Creative, low-cost ideas are the way of the future, and they work just as well (and sometimes better) as some of the most expensive methods of marketing
Despite what you may have heard from expensive marketing companies, it doesn’t take a lot of money to get your customers to engage. As long as you know what you’re doing, you can keep costs low and still facilitate a high level of engagement.
Whether you’re an entrepreneur in a small company, a freelancer, or a member of a big marketing team at a large company, it pays to save money where you can in your advertising techniques. Creative, low-cost ideas are the way of the future, and they work just as well (and sometimes better) as some of the most expensive methods of marketing.
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If you can get customers to become loyal to your brand, their lifetime value to your company will skyrocket.
Turning customers into loyalists was once the holy grail of branding: If you can get customers to become loyal to your brand, their lifetime value to your company will skyrocket. Today, fanatics are the new loyalists. They don’t just buy your brand all the time, yours is the only brand they buy, so it becomes an important part of their identity.
A loyal customer loves your brand, but they might also buy your competitors’ products half the time. Brand fanatics — like sports fanatics — are fiercely loyal to the point of exclusion. They’ll even turn other items into billboards for your brand by placing your stickers and logos all over their computers, cars, and backpacks.
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One of the newest tools in digital marketing, messenger applications present a great opportunity for brands to boost their open rates, enhance their visibility, and build a great relationship with customers
Messaging applications are online communication channels that facilitate free, instant messaging between individuals or within groups. Some popular examples include Facebook Messenger, WhatsApp, and WeChat in China. In recent years, companies have started to use these apps to privately share relevant content with customers.
So, are messaging apps the next big thing in customer communications?
As of 2015, mobile messaging app usage surpassed social media usage for the first time and has continued to grow since. As such, messaging apps have become an essential marketing and communications tool for businesses. Many marketers in 2019 are drawn to messenger apps by their impressive open rate, which is far higher than that of traditional B2C communication methods such as email.
The stats on messaging app…
Millennials want the same thing as every other age group, it's just the channels for delivering it that have changed
They have youth, influence and spending power. They can also spot BS from a mile away, and it’s not easy to win their hearts.
EContent even predicts that Millennials – or Generation Y – will "become the world’s most powerful customers".
Indeed, it seems that the demographic has reached an important point where its purchasing power is approaching its peak.
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It’s also a huge generation, born anytime between the early 1980s and 2000. Of course, there are major differences in life experience and expectations between someone born in ‘83 and someone born in ‘99, but the important…
Reducing customer churn is a powerful strategy. An HBR study found that positive customer experiences are associated with big increases in future revenue. But how do companies stop customer churn?
Customer churn is an expensive problem for businesses. Acquiring a new customer costs at least five times as much as retaining a current one. Meanwhile, existing customers are 60%-70% more likely to make a purchase than new customers. Chasing prospects costs businesses marketing dollars and sales.
Companies are better off spending their money trying to reduce churn by improving customer retention. Many businesses use tools like loyalty programs, customized email responses, or personalized thank you notes to make customers feel valued and important. A recent study by Motista showed that when customers have an emotional connection to a company, they have a…
Customer listening is now essential
Ever talked with someone who doesn’t seem to listen to you or let you get a word in edgewise? Pretty annoying, right?
The same is true in digital marketing. In order for you to market and, ultimately sell better, you need to listen as much as you talk. Only then can you capture the critical customer feedback you need to inform the tactical tweaks and strategic transformations you need to make to take your business to the next level. The best way to do this is by listening – at first manually if that’s all you can afford to do – but eventually in a deep, analytics-based way. This is the realm of customer listening (CL) platforms.
What’s a Customer Listening Platform?
A customer listening (or CL) platform is a SAAS-based app that allows you to listen to all the streams of customer data you have available so you…