Inspiring Customer Loyalty and LoveFebruary 14, 2013 By Seamas Egan
In this season devoted to hearts and flowers, it's a good time for businesses to assess and improve customer love and loyalty. The digital age has made it easier than ever for businesses to not only connect but engage with customers. This new level of transparency and sharing has made it extremely clear that emotional engagement is a key driver of brand loyalty. Companies can either show their customers the love or risk losing them to competitors.
Every business wants loyal customers for a number of reasons. From a return on investment perspective, it can cost a company five times more to acquire new customers than satisfying and retaining current ones.
Businesses may use a number of metrics to measure customer loyalty, but retention rate remains one of the most critical measures of loyalty. Email marketing programs are one way to measure retention. How long people remain on your list, how active they are and how they interact with messages are all ways that companies can measure customer loyalty. Additionally, a good email marketing program is an extremely powerful tool to build customer loyalty.
Better than a box of chocolates
Show your customers the love by always giving them something of value in your email marketing messages. That value may be information, a price promotion, or even early access to a new product or service.
One of the best practices in loyalty is to sometimes simply say "thank you." You don't always have to ask your customers for an order. A simple and sincere thank-you can show customers that you care. Thank them for an order, renewal, or for simply being a loyal or preferred customer. The Popcorn Factory rewards customers with a thank-you discount following an order. This makes customers feel special and encourages them to buy again.
To know me is to love me
Make your customers feel special by showing them that you're paying attention. Drilling down with a segmentation tool allows you to send one-to-one messages that are personalized and relevant to your customers. Use the implicit data that customers are feeding back to you, such as clicking on a link, watching a demo or making a purchase, to create and send personalized email marketing messages.
To turn your insights into action, it's important to have a system that allows you to manage and take action on your data. An integrated CRM and email marketing tool is one way to effectively use your data to drive personalized campaigns. This data can also help you to drive best business practices.