The average cost of winning a new customer is around five times higher than that of retaining an existing customer, according to the book ‘Loyalty Myths’ published by the research firm Ipsos Loyalty. Along similar lines, customer retention was identified as the most powerful revenue driver for any business, according to a recent study by KMPG. However, building brand loyalty in today’s cut-throat competitive environment is no easy feat. Customers today are better informed than ever before. They have more options to choose from – more customized solutions are available to meet their exact requirements. One way to improve customer retention in this day and age is by using Marketing Automation software. Here’s how you should use this tool to maximize brand loyalty.
If you can use the Marketing Automation software to your advantage, it would help you notice any signs of departing customers well in advance. Using Marketing Automation, you can identify which of your important customers are engaging with you as frequently as they usually do. This could be a sign that those of your customers are no longer happy with your brand. You need to communicate with them as early as possible; and maybe you’ll be able to fix the issue causing dissatisfaction among them, and thus prevent them from leaving.
Simplified Marketing Automation software like QuickDesk Marketing enables you to track past engagements and behavior of your customers. You can use that information to plan which special offers would entice which customers. For instance, if you find that a customer has not engaged with you for a long time, but is still subscribed to your newsletter – it would be a good idea to announce a special offer exclusively for that customer to bring his interest back to your brand. However, for this plan to be successful, you need to make sure that the special offer has a personal touch. This is exactly where Marketing Automation tools can help you by providing information about each customer’s personal interests, behaviors, likes and dislikes..
In order to improve brand loyalty, you need more customers giving you repeat business. With Marketing Automation software like QuickDesk Marketing, you can collect information about your most loyal customers. Once you identify your most loyal customers, you can reward them for their loyalty. This is a great way to enhance brand loyalty among your top-rated customers. Simple rewards like a coupon code or small discount can go a long way to strengthen the bond further.
Establishing long-term relationships with customers is crucial for customer retention. However, not all your customers would be equally amiable. Your job is to reach out to even the most restrained customers through follow-ups. If you can add a personal touch to your follow-up emails or calls, nothing like that! Thankfully, Marketing Automation like QuickDesk Marketing helps you integrate with other applications such as your website WordPress to track your customers’ behavior, demographic, gender, age, interest etc. The information you receive about your customers through Marketing Automation software can be used to devise an effective follow-up strategy for your valuable yet reserved customers.
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