Looking to increase your sales with cheap strategies? A good solution is to focus on customer relationships. A loyal and happy consumer spends more per purchase, repeats their purchase more often and even refers your business to others. A loyal customer is the greatest asset a company can have.
The rise of technology has changed the way we relate to the world and these changes have also reached the business and buying behavior of potentially loyal consumers. To survive in this situation, your business needs to adapt and rethink its processes, strategies and the way it builds its customer relationships.
Due to the technological revolution buying behavior has been irreversibly altered and you can no longer use outdated marketing strategies to sell and form relationships. Reinventing yourself is necessary to connect with your customers.
How can we reinvent ourselves to suit the modern consumer? Digital transformation is your main avenue. Digital platforms allow you to better understand your customer, study their habits and get to know your company better. For example, we can find out which are the busiest days and times for your business, the most redeemed awards, how often each customer visits your store, etc. The business owner should take advantage of this powerful tool and constantly strive to improve their relationship with consumers. Using a points and rewards programs to collect data, it is possible to analyze consumer behavior and offer increasingly personalized discounts, promotions and rewards. A loyalty program also acts as an important method of building your relationship with your consumer.
To be successful in serving this increasingly demanding, discerning and well-informed consumer, it is not enough just to offer personalised customer service across multiple channels. We need to integrate and optimize these channels for everyone to deliver the same quality of experience. Omnichannel experiences unify inbound and outbound communications to provide proactive and contextual interactions for your customers and a hassle free experience. With the right omnichannel experience, you promote seamless engagement across all channels of your customer’s journey. Your customers, agents, and representatives can switch channels without losing context. Your company can expertly design, initiate and monitor even the most complex journeys using routing to automatically route interactions to the best resource available.
While your organization has many different functions, each of these functions exists to serve the customer – so they have to work together to provide a comprehensive, positive customer experience. Cross-functional teams help organizations put their customers first, by encouraging effective communication across teams. Bringing people together with different perspectives can improve problem solving and lead to smarter, more sustainable decision making. Instead of competing for resources, cross-functional teams collaborate to optimize use of time, money and effort to improve customer satisfaction while helping to meet organizational goals.
With so much information available to users in the online world, it can be complex to store and process such a large amount of data and somehow make it useful for your business. Therefore, it is essential to use solutions that make internal processes more practical and efficient. By creating information flows, a tool performs a certain task simply and quickly. Marketing automation makes the way to reach your goals faster, cheaper and more efficient, generating better results. This can lower the cart abandonment rate in your e-commerce or can even increase customer loyalty.
After implementing a customer Loyalty Program, it’s imperative that you determine whether it has increased customer retention or customer satisfaction. There are many different ways to do this, especially with the recent rise of user-friendly business analytics software. You can measure a reward program’s success by: Customer Retention Rate, Customer Effort Score, Negative Churn, etc. You can also easily measure improvements in your company through branding awareness. When you know how much and how the brand is perceived by the market, it is simpler to develop a marketing strategy, especially branding or advertising. When most consumers have a positive brand recall, these insights can be harnessed in a campaign to reinforce this bond. On the other hand, when a brand is not well known, a strategy may be needed to increase its exposure and highlight its differentials. Digital marketing tools help measure and prove the value of brand awareness. You can calculate this indicator with the help of other metrics such as site visits, mentions on social networks, engagement on post, types of brand mentions and comments (positive, negative and neutral), scope of publications, brand interest in search engines, etc. Mobile computing has given customers greater access to competing services and increased their expectations for quick customer service. Companies can no longer retain reliable, long-term customers without updating the way they relate to their consumers. Loyalty programs are a great step in this direction, especially when implemented with a long-term strategy and with tools for analysing customer data.