The account managers in your company act as direct lines from your clients to the products or services you provide. Trusting your managers to accurately communicate your brand can be nerve-wracking if you do not take the time to educate them about the little things that keep your business booming. One important topic to introduce to them, if you have not already, is how you actively work to keep your customers interested and engaged. A terrific way for teaching them the best approaches to maintain your current customer base is with Pathwwway’s powerful client retention marketing strategy.
The Why and How of Pathwwway’s Retention Marketing Strategy
Although not a new concept, the world of retention marketing has transformed over the last few years with unending technological advancements and evolving customer expectations. Trends shifted the process towards more personalization and customer-focused participation. The focus on a retention marketing strategy is usually a lower priority than acquiring new clients. It receives a smaller budget and fewer man hours dedicated to its realization. Rather than concentrating efforts on individual clients, they construct a singular strategy for everyone with automatic nurture campaigns and other generic retention programs.
When your managers put Pathwwway’s retention marketing strategy tips into play, they will begin to see a blossoming of the relationship with their assigned client. The more customers trust in your managers, they more they trust in your business and your products or services. Their loyalty also grows as they feel the personal connection. Once they sense that connection, they feel obligated to purchase more from your business and refer you to their friends and family. You gain more revenue and customers without spending a single dollar on fruitless acquisitions. Simply retaining 10% of your current customers translates to doubling your income in just a few years.
Customers do not just spend more with your business or give you the benefit of referrals. They also become less sensitive to higher prices or costs since they understand and appreciate your value. The nature of business is that it constantly changes with new trends and styles and sometimes you need to make adjustments to keep up. Once you successfully earned your customers’ loyalty, you do not need to fear them jumping ship when you need to change a few things. They also tend to ignore the competition’s attempts to pull their business away. Again, your managers can help establish your intrinsic value with an excellent retention marketing strategy to demonstrate that value and solidify your position within your customers’ lives.
A Few Useful Tips from Pathwwway’s Retention Marketing Strategy
Pathwwway’s successful retention marketing strategy focuses on specific questions that you should continually ask yourself, your managers, and your lower level employees. The answers to these questions help you craft more meaningful internal and external communication along with unearthing new, potential targeting programs to increase the loyalty of your customer base. Start incorporating these questions into strategy meetings to encourage your managers to think about them on a daily basis and when performing their normal duties.
Are we staying true to our brand and our mission?
The brand and mission of your business are basically free-standing contracts between you and your customers. They inform your clients of the experience they can expect and all of your managers and employees should strive to incorporate them into every customer encounter. If someone fails to measure up to those expectations, the client loses faith in your brand and any loyalty they felt is lost.
Correct this issue by taking a hard look at your objectives and compare those to the known client experience. The message should be consistent within the business and when you reach out to your customers. If you do not have any idea about your current clients’ experiences, consider contacting a third-party to conduct an audit of your customers’ perception.
Who are our most loyal customers and why?
A customer perception audit does several things. It gives you a clear picture of the individual customer’s experience, their expectations, their preferences, and their satisfaction with your products and customer service. Many businesses already use informal methods, like social media tracking, or traditional tactics, like customer satisfaction questionnaires. You can then take all this data, learn to dissect it, and apply it to building your brand’s reputation and standing out from your competitors.
Your business’s most loyal customers also act as free advertising when they share their experiences using your products and services. Encouraging them to do so with referral bonuses or free gift offers for the people referred will jumpstart your income with very little expenditure. Do not forget about the unhappy customers either, however, while enforcing a retention marketing strategy. Concerns and complaints listed in audits or surveys yield insight into where you stand to improve.
Are we getting the most out of our existing, happy customer base?
Integrating Pathwwway’s retention marketing strategy means actively searching for ways to help customers get more value from the business’s products and services. Adding things like cross-selling or upselling opportunities for the things your clients actually want raises your worth in their eyes. Not only do they come to you for this one product or service, but for other related ones as well.
Thinking about adding a new feature to your website, a new product in your line, or providing a new service? Allow your managers to target your top customers first and let the clients have an advanced look or trial of the new features, products, services, etc. Recognizing your most loyal customers by introducing them to these new things increases their connection to your brand and your potential revenue streams without branching out to new customers.
What is going on with the competition?
Keeping an eye on the competition may not seem like productive customer retention marketing strategy, but it serves an important purpose. You need to understand why customers choose to go to your competition rather than you, just as well as why clients choose you instead of your competition. Explore your strengths and continually work to replicate them. Do the same with your weaknesses then improve upon them.