Best Practices For Customer Retention

This is a guest post by Frank Vitetta who works as a freelance marketer for Metrilo.com.

Over the last few years, I have been increasingly involved in retention marketing and I have noticed how this new terminology is replacing the old “brand loyalty” term.

Best practices for customer retention

(source Google Trends)

Before we go into details for efficient customer retention, let’s ask a simple question. Imagine that you are a stamp collector, a dedicated gatherer of valuable assets. What is easier – to nurture your collection by buying protectable holders or simply search for a new set of stamps once you lose or destroy your existing ones?

Even a child would state that this is a silly question. If you cherish your collection, you will try to keep it intact. Customer retention works in a similar way. Your users are the valuable stamps. It is way cheaper to keep the ones you already acquired than to convert new ones. With the added bonus of adding revenue to your business. Because customers, unlike the stamps, generate profits for the whole lifetime of your relationship (Customer Lifetime Value).

  • Even a 5% increase in retention rates may boost your profits by up to 95% (Harvard Business School)
  • 4/5 of your future business comes from approximately 20% of your current, loyal customers (Gartner Group)
  • The chances of selling to an existing customer are capped at 70%, while new prospective customers add up to only 20% (Marketing Metrics)

Customer Retention As a Top Priority

A core of loyal customers is the backbone of your successful business. This is why customer retention is a must. It is essential to build a lasting relationship with your customers, and this comes easier than you would think. If you care about your customer base, they will notice it – amazing customer service, high level of engagement, and also education – these are key points for an efficient customer retention platform.

A noticeable percentage of business owners approach customer retention with minimal care. They assume that retention marketing works on its own. But an existing customer base is not enough to keep your business going. You will need to invest more in keeping those customers. And it will cost you a lot less than leaving the future of your store on just a good faith.

Here are some of the most promising customer retention strategies. Some may suit your business perfectly; others may not be your type of action. In any case, you can only benefit from them.

Customer Loyalty

Customer Retention Strategies For Optimal Success

Put simply, it is close to impossible to retain a customer who doesn’t notice you. They have to pay attention to your idea, to your products and deals. Like every relationship, business-to-customer also requires decent communication and engagement. An engaged and satisfied customer is a loyal customer.

A Rebel With a Cause – Customer Retention Basics

All of us embrace the idea of standing for something. Even the most rebellious people stand for their values. And a mass percentage of consumers share this ideology when it comes to picking favorite brands. Research shows that over 60% of loyal customers express “shared values” as the main reason for choosing a particular brand (Corporate Executive Board).

Retention marketing relies heavily on the personal connection between you and your customers. Although you can’t meet each of them in person, you can make it seem this way. A real connection is generated through personalized experiences for them. If you can make any customer feel special, they will gain the sense of knowing you. Not only as a brand/store leader but as a virtual friend. And this should be a key component in your customer retention strategy.

Summon the Inner Catalyst

Every customer, in general, chooses their preferred brands by resemblance. If the product/s vision and purpose relates to customer values and beliefs, it is more likely to provoke interest. In order to accomplish strong customer interest, you need to study your customer base thoroughly. Identify the core of loyal customers, and develop a message for their needs and goals. Every promising customer retention strategy has to be equipped accordingly.

It is easier to satisfy an existing demand rather than create an entirely new one. You can’t be sure how many customers will relate to your innovative ideas. The safer and more profitable route is the first one. In times of such competitive marketing, it is essential to present your customers with the most accurate answer to their desires.

Take Customer Experience to Another Level

You will be surprised how low-cost customer retention initiatives work on your clients. The key factor here is uniqueness. Think of welcome surprises, milestones, and customized rewards for each customer. It may seem like a lot of work, but it will pay off greatly.

Add a bonus item with their second or third purchase. It doesn’t need to be something overwhelming. Even a handwritten Thank you-note will make them feel special. And always rely on the surprise. Don’t proclaim bonuses on your website. Keep it on the low side. This way, every surprise gift will summon a feeling of personal involvement. And this type of retention marketing creates the most loyal customers.

Customer Loyalty

Passion, Engagement, and Responsive actions in Retention Marketing

First and foremost – care for your customers. This includes friendly behavior, gifts, and bonuses, but also innovation. Make sure to be aware of new technologies and ways to benefit your customers. Every properly answered question adds up to the Customer Lifetime Value (CLV). Every piece of customer feedback enables you to react to their needs. Every proactive customer retention initiative expands your loyal customer base.

We know how tough it can be to satisfy every customer. This is why you need an efficient customer support system. Hire professionals, rather than temps to do the job. Optimize your automated customer support tools, and invest in real employees to cover every customer’s need. After all, your clients are the people who dictate the place and time of engagement with brands. Follow their leads and try to be everywhere. At any time given.

Don’t Hesitate to Implement Customer Retention Platforms

In relation to the previous point, being “everywhere” is easiest when you engage in the digital world. Metrilo.com is SaaS platform, oriented towards e-commerce retention marketing. With their help, you can track purchase history, campaign success, and the most promising existing customers.

To identify the strengths and weaknesses of your customer retention actions is crucial. With enough data, you can greatly boost customer lifetime value, average order values, and even conversion rates.

If you want to check our more retention marketing platforms, my friend Tom has got a nice site here: http://retentionmarketing.co/ with the right platform you can expect a 67% rise in Customer Lifetime Value, along with 39% better conversion from emails, and 48% better retention rates.

Is brand loyalty dead? Let me know what you think.

5 Signs Your Website Hosting Company is Unreliable

5 Signs Your Website Hosting Company is Unreliable

Where your website is hosted can be just important as any other part of your marketing campaign. Without reliable service, your site might not be seen when it really matters, including holidays and other important high traffic days. Here are some signs of an unreliable web host, if any red flags come up, it might just be time to switch!

1) Offering deals that sound too good to be true:  Are you signing up for plans that only “cost” $1 a month or come with unlimited bandwidth? While these things sounds great on the surface, make sure you know what you’re getting yourself into. For example, buying the bare minimum package and having to add more services (which can really add up).
Having an unlimited plan sounds great, but is everyone receiving the same deal? At some point, traffic can overload servers and your unlimited plan may result in a lot of website down time.

2) Slow website loading time: Sometimes, having a big or super busy website can slow down your load time. Other times, your hosting company just might be overloaded, causing your pages to slow down and deter visitors. Check out Google PageSpeed Insights to see what the problem is.

3) Bad reviews and reputation: Do your research and check out what customers have to say on review sites. It’s understandable to have a few bad reviews but if the overwhelming majority is negative, it’s not really worth it to save yourself a couple of bucks each month for a semi-reliable host.

4) Unreliable customer service: Is your web hosting company closed on weekends? Do they keep you on hold for hours when you’re trying to call? A reliable company offers support when you need it and through different ways: email, phone, online chat, forums, social media and more. Don’t limit yourself on when you can talk to your web host.

5) Bad Advice: Some web developers handle the hosting aspect for you, but they can also offer very risky advice. For example, I recently heard a client was advised to let his domain expire and then re-purchase it! All because the developer was too lazy to get the login information needed to renew the site…

Learn more about reliable website hosting and call Emarketed for a free consultation today.

Why You Should Feature Case Studies on Your Website

Why You Should Feature Case Studies on Your Website

There are many different types of content you can feature on your website but many businesses overlook the benefits of including case studies. They can be a great promotional tool that helps demonstrate why your product or business is effective and what you can offer to potential customers. Businesses that are looking for some fresh and interesting content that will provide a boost to their marketing efforts should look into case studies.

By producing case studies you are providing customers with definite proof that your products or services work and they will be more effective than your competition. Within the case study you can include evidence with specific facts and numbers that demonstrate what your product or service is able to do for customers. The data and information you provide will give readers a compelling argument as to why they should purchase something from you.

The template for a case study usually includes an example of a client problem and how your business was able to solve it for them. This helps showcase a specific instance in which you were able to really help someone through your work. You can start working on a case study by interviewing some of your best customers to get their testimonies so that their story can be featured.

Talking to your clients can give you the information you need and they might even be able to share facts and figures you can include in the case study. Real stories that show your product or service as a concrete solution to a problem can be a major selling point to include on your website. Featuring a few case studies gives your business greater credibility because your customers are willing to share their experiences.

Case studies can be a very convincing addition to your content and including them on your website may help sway customers to make a purchase.

Is Your Brand/Business Future-Proofed?

Is Your Brand/Business Future-Proofed?

Technology and innovation can change the world so rapidly that businesses often get left in the dust if they aren’t prepared for major shifts in consumer habits. The move toward mobile apps and making purchases through mobile devices has been a dramatic change that many businesses are still struggling to keep up with. Business practices need to adapt to new technology as often as they can otherwise it could mean trouble for their longevity.

There are a number of ways to stay prepared for future changes and prevent them from affecting the success of your business. One thing to consider it that it can be too vulnerable to focus your business on only one niche or product. Diversifying your product portfolio can make it easier to survive a changing market because you are not just relying on one part of your business.

It can also be a good idea to constantly tailor your strategies and adjust to always reach new customers. Strategies that you have used in the past to reach existing customers may not always be effective as the market changes. Explore and adopt new ways so that you always keep trying to find what works.

Another helpful strategy to future-proof your business is to work on identifying any potential risks and manage them as early as you can. You should look into possible points of failure for your business and determine the best solution in case any of these issues should arise. Addressing any future problems early on can keep you prepared for changes that might affect your business.

Future-proofing a business means staying in touch with customers, adapting to changes and being prepared for all possibilities. Technology and the way businesses interact with customers will always constantly change so you need to be able to adjust to every shift in the market.

Trending Topics are a Marketer’s Treasure

Trending Topics are a Marketer’s Treasure

When coming up with a marketing strategy, businesses can benefit from finding and taking advantage of recent trending topics. Content marketing that incorporates trending topics can be more effective at reaching people online who are interested in what’s new and relevant. You can get your content read and make sure that your brand is involved in recent events and discussions.

The first step in using trending topics is to be able to find them and search for one that you can easily incorporate in your own content. Trending topics are easiest to find on sites like Twitter, Google, and Facebook. Twitter was the platform that gave birth to the trending topics feature through the use of hashtags to track trends but other websites also incorporate trending topics based on what people search for the most.

You can look through the list of trending topics on any of these sites and try to identify some that would be most relevant to your brand and will interest your followers. You will need to make sure to produce and share the content quickly before the trend loses momentum. You can also plan content with trending topics in advance if you know something will be relevant such as upcoming holidays or events like festivals and award shows.

It is important to use trending topics correctly by employing the exact hashtag that people are using. You also need to make sure you understand the context of the hashtag or the topics so that you don’t use it incorrectly and appear out of touch. Make sure to do enough research beforehand so that your content is useful, relevant and appropriate for the trend.

With enough planning and the right content you can use trending topics to increase brand awareness and reach a new audience.

What is “Content Seeding” and When Should I Start Planting?

What is “Content Seeding” and When Should I Start Planting?

The concept behind seeding is to spread something over multiple areas in order to yield more results. The same is true of “content seeding” which in the world of digital marketing refers to the strategic approach of scattering content across the internet. Of course content seeding is not haphazard or random in any way but rather a calculated and targeted strategy that focuses on placing content in the most effective way possible.

With content seeding you need to put a link to your content in a place where people are most likely to find it. This will usually mean targeting relevant influencers who are well-connected and similar to your brand. You can hire various influencers on different channels so that you can reach more people with your content.

In order for content seeding to work it is important for the content to be high quality and as relevant and creative as possible. The content itself must also be targeted to specific networks and audiences so that it will be suitable for a certain influencer. Some of the most effective sites to target with content seeding are social media channels because this is where most people view influencer content.

You can start content seeding whenever you feel that you have an established website and good quality content but simply need to spread the word about your brand. When your content is ready and you want it to be seen by as many people as possible then you need to begin a content seeding campaign. Once you start you might find that really good content begins to spread on its own after it is seeded.

As long as you have great quality content and pick the right influencers you can start to see positive results with content seeding.

Ghostwriting Your Content? Here are the Pros and Cons

Ghostwriting Your Content? Here are the Pros and Cons

Most marketers know that the quality of your content is crucial in getting the best results from a campaign. Some businesses hire ghostwriters to produce content for their website, blog or social media posts to ensure they have the highest quality. There many benefits associated with having a ghostwriter but there are also certain drawbacks as well.

With a ghostwriter you know that the content will be much more polished and in most cases perfectly optimized to increase traffic. Ghostwriters have enough experience to understand what kind of content gets results and works best for SEO or advertising purposes. A ghostwriter can also create content quickly and meet deadlines for your campaign.

However, with in-house writers there are also some advantages that might make them preferable to a ghostwriter. A business that has in-house writers usually has much more control over the type of content that they create. You can oversee everything that they create and provide your own ideas and insight so that the content is tailored to your vision.

In-house writers also typically have more in depth knowledge of the field your business is involved in. They know the day to day details of what you do inside and out and won’t need to put in all the research that a ghostwriter might need to. In-house writers can also be more affordable, give the content the specific personality of your company which might be difficult for a ghostwriter to capture.

There are pros and cons to hiring a ghostwriter but it all depends on your business goals and how you want to achieve them. Both ghostwriters and in-house writers can be useful options based on the type of content and results you are looking for from an ad campaign.

Missing Out on Mobile Technology?

Missing Out on Mobile Technology?

Digital marketing encompasses a broad spectrum of different strategies that all contribute to increasing brand awareness. If your marketing plan does not include mobile technology in any way then you may be missing out on a key component of your campaign. Customers engage with brands across an increasing number of devices and incorporating mobile technology into your marketing can provide a big boost in visibility.

The way that customers find products has been shifting toward mobile in recent years and now the majority of retail purchases actually happen on mobile devices. More businesses are embracing apps as a way to reach their customers and increase business by making it easy for them to purchase something on their device. They are also incorporating mobile technology into purchasing items in-store as well for the convenience of customers.

Some interesting ways to incorporate mobile technology into marketing can include providing personalized discounts to a user’s mobile phone or notifications after a purchase to review the experience. Finding unique ways to engage customers through the use of their mobile devices can keep them connected to your brand. Mobile content should target customers based on what they want to see at the right time and their current location.

In using mobile technology it is important to be able to provide content across all channels that customers subscribe to. Content also needs to be timely so that it can encourage customers to make a purchase through their mobile device. Getting more involved in mobile technology can help your overall marketing efforts because it will influence people and reach them in a more immediate way.

If you haven’t yet embraced mobile marketing then it is time to move toward new technology as a tool to increase customers and provide them with what they need.

General Data Protection Regulation (GDPR) Update & What You Should Know

GDPR

I’m sure you’ve seen some emails come in from various companies with updates to their privacy policy over the last few weeks.  If not you might be on a remote island with no Internet connection. 😉 These emails all have to do with the upcoming changes in the EU.

We are quickly approaching the European Union’s deadline of May 25th for the new data protection law. Even though the changes take place in the EU the impact is global.

The below info is meant to help with this transition. But it’s important to know that I’m not an attorney so please check with your attorney or legal team to make sure that your business is in compliance with this new law.

GDPR (General Data Protection Regulation) — What is it & what does it mean for you?

Well this has been a long time coming and we’ll most likely see something in the United States as well soon. With all the security breaches over the last few years the EU decided to tighten up the rules for companies that collect data. In the end this gives more control to the end user. Finally! 🙂

First of all the changes will impact your business if you collect any data whether it be through tools like Google Analytics  if you’re tracking who visits your website or MailChimp if you have an email signup form. The EU has a great infographic that explains this.

What does it mean to be GDPR compliant?

In short, GDPR’s purpose is to give people more power to protect their personal data, and it requires businesses who collect that data — whether it be names, addresses, email addresses, phone, IP, etc — more transparency on when and how it’s used.

Here is what you need to do:

  1. Tell them who you are when you collect any data,
  2. Get clear consent to process their data,
  3. Allow people to access their data,
  4. Inform people of data breaches,
  5. Give people the right to be forgotten, 
  6. Give people the option to opt out of direct marketing that uses their data,
  7. If you use “Profiling” to process applications there’s a bunch of new rules,
  8. Use extra safeguards for sensitive info like health, race and more.

What should I do now?

Well, that part depends on your situation. You may need to bring it to your legal team if you operate internationally, or have a lot of moving parts. You should probably review this helpful infographic/website to get familiar on how it might effect your business.

If you use WordPress, there is team of core developer that are working together to help plugin developers quickly get up to code. You can read more over there as well (https://www.gdprwp.com/).  Next, you’ll need to evaluate the process for data collection, how you make it accessible on-demand, and update your Terms of Use.

What we’re doing

We’re updating our privacy policy to be in line with the changes and making sure that our newsletter signups are compliant. Right now we’re collecting emails when people download our resource guides and that can be deceptive since we don’t explicitly tell them we’ll be emailing them our newsletter. We also have a call scheduled with our attorney Jon Tobin with Counsel for Creatives to talk more about this to make sure we’re covered.  We’re also going into Google Analytics and selecting the date range for the data retention option so it’s in compliance.

If you’d like to hire us to do an audit of your site to make sure it’s in compliance or implement the changes I’ve suggested above please reach out today!

When to Outsource Your In House Marketing

When to Outsource Your In House Marketing

As a business owner there are different options for how to approach your marketing strategies based on what will be more effective for your company. At some point you may have to decide between creating an in house marketing team or hiring an external marketing provider. Digital marketing can be crucial so making the right choice can strongly influence the success of your business online.

There are many different things to consider when you are deciding whether or not to outsource your marketing campaigns. Analyzing your business’s current needs and plans can help you get a better perspective on when you should choose to outsource. Looking at the pros and cons of outsourcing can also be a good way to make a decision either way.

There are many advantages to having an in house marketing team but if you are a smaller company and don’t have the resources to run your own digital marketing strategy then outsourcing might be the better option. An established marketing provider has more experience working with a business like yours and will understand how to approach your digital campaigns.

A new startup business that has no experience with marketing will need to outsource so that they can get started and not spend too much time or money on figuring out a strategy that will work. A marketing provider can get more immediate results and get your digital marketing plan up and running quickly. The main thing to consider if you are planning to outsource is to find a marketing company that fits within your budget and will not charge more than your business can afford.

Outsourcing can be a great option for smaller companies that need help with their marketing or any business that wants someone with more experience and expertise to handle their ad campaigns.