The document discusses improving customer engagement and retention. It notes that focusing on retaining existing customers can be more profitable than acquiring new ones, as 20% of customers account for 80% of profits. However, many companies still prioritize new customer acquisition over retention. Effective customer loyalty programs use analytics to personalize the customer experience, incentivize interactions, and turn loyal customers into brand advocates who bring in new business through word-of-mouth recommendations.
LIfecycle marketing connects a company with its customers by sending the right messages at the right time.
Obtaining Customers.
Marketing projections, supply chain instability, and Jon's disappearance are among the enterprise's hits and misses…
We can't go back since we've gone too far.
Stars in video games.
Innovate!
First and foremost, the customer.
My point of view.
But there is one fundamental truth that never changes:
Why true digital transformation must take place across the entire banking ent...Epsilon Marketing
In the global omnichannel world we live in today, financial institutions are hindered by their disparate and siloed systems.
The rise of online banking has produced a massive shift in the way people engage with their money, bill paying, and most importantly, their banks. Today’s consumer is connected more or less 7x24x365 via mobile devices and WiFi in their cars. Banking and insurance companies are struggling to shape their online and digital engagement to match the expectations and desires of the consumers. They need to transform so that they can better understand their consumers.
With this focus on digital transformation, the financial institutions must focus on producing an enterprise-wide solution that enables the business to find, engage, convert, cultivate and expand their relationships efficiently.
Join us as we explain how organizations are successfully transitioning to enterprise-wide digital transformation.
Creating loyal omnichannel customers is critical. Retailers who embrace the customer-centric trend and build better shopping experiences will leap ahead of the competition.
Building a blended customer experience isn't easy. Need some help getting started? Check out our latest in retail trend research.
LIfecycle marketing connects a company with its customers by sending the right messages at the right time.
Obtaining Customers.
Marketing projections, supply chain instability, and Jon's disappearance are among the enterprise's hits and misses…
We can't go back since we've gone too far.
Stars in video games.
Innovate!
First and foremost, the customer.
My point of view.
But there is one fundamental truth that never changes:
Why true digital transformation must take place across the entire banking ent...Epsilon Marketing
In the global omnichannel world we live in today, financial institutions are hindered by their disparate and siloed systems.
The rise of online banking has produced a massive shift in the way people engage with their money, bill paying, and most importantly, their banks. Today’s consumer is connected more or less 7x24x365 via mobile devices and WiFi in their cars. Banking and insurance companies are struggling to shape their online and digital engagement to match the expectations and desires of the consumers. They need to transform so that they can better understand their consumers.
With this focus on digital transformation, the financial institutions must focus on producing an enterprise-wide solution that enables the business to find, engage, convert, cultivate and expand their relationships efficiently.
Join us as we explain how organizations are successfully transitioning to enterprise-wide digital transformation.
Creating loyal omnichannel customers is critical. Retailers who embrace the customer-centric trend and build better shopping experiences will leap ahead of the competition.
Building a blended customer experience isn't easy. Need some help getting started? Check out our latest in retail trend research.
Gary Vaynerchuk's advice can be found here: http://www.youtube.com/watch?v=TLZDzFKKwZw
BBC's Monitor Me can be found here: http://www.youtube.com/watch?v=aJlMwBaGcsk
Third Eye Project can be found here: http://www.youtube.com/watch?v=gbTQb1Hdp6U
The marketing world’s intense focus on analytics, of late, hasn’t always led to better performance — because, while it’s easy to collect data, it’s difficult to turn it into deep insight. This Insight Center covered content that included a leading practitioner company’s reinvention of market research, a framework for measuring what your customers actually value and will pay for, and a toolkit approach to defining the customer’s “job to be done.”
https://runfrictionless.com/b2b-white-paper-service/
1. Connect your CRM data. Don’t just collect it and keep it in silos.
2. Invest more in mobile. Mobile targeting and ROI are looking better than ever.
3. Personalize. It’s the big pay-off of all that data and analysis.
4. Measure, measure, measure. Know what works and double down.
5. Be up front about privacy. Consider the other side of targeting.
Tendências que irão transformar o marketing digital
Para 2013 os profissionais especializados apostam em big data, mobile e mídias sociais, revela relatório da ExactTarget
Customer service is more complicated than ever. Today’s consumers have more channels available to them, and as a result, more opportunity to go elsewhere for their products and services. To understand their high expectations, companies must know their customers better. Doing so requires a complete view of customers and their interactions with the company. This is challenging because customers interact through many channels, and information from each often is stored separately and hard to bring together. Thus companies need better tools than most have on hand. Using appropriate systems to integrate, analyze and manage customer information can make it possible to personalize the customer experience, engage with customers more fully, build loyalty and increase revenue.
Currently marketing is going through a revolution. We are seeing a fundamental shift from brands pushing marketing messages in one direction to organizations now getting involved in a two way engagement with their customers.
5 ways to boost customer loyalty using data analyticsgroupfio1
Great customer experiences lead to higher retention rates, increased brand loyalty, and bigger customer lifetime value (CLV). Improving customer experiences can seem like a straightforward task, but unless you base new tactics and strategies on tools like zero-party data, you might be putting in effort and resources in the wrong places.
So, what are some RIGHT ways to use data analytics to improve customer loyalty? Here’s 5 ideas to help you get started building that data-driven competitive edge.
https://www.groupfio.com/5-ways-to-boostcustomer-loyalty-using-data-analytics/
Marketing to small businesses requires nurturing and guidance to help build a strong foundation for growth. If this is new unchartered territory for you, consider incorporating these ideas into your marketing strategy to take on this new challenge.
Gary Vaynerchuk's advice can be found here: http://www.youtube.com/watch?v=TLZDzFKKwZw
BBC's Monitor Me can be found here: http://www.youtube.com/watch?v=aJlMwBaGcsk
Third Eye Project can be found here: http://www.youtube.com/watch?v=gbTQb1Hdp6U
The marketing world’s intense focus on analytics, of late, hasn’t always led to better performance — because, while it’s easy to collect data, it’s difficult to turn it into deep insight. This Insight Center covered content that included a leading practitioner company’s reinvention of market research, a framework for measuring what your customers actually value and will pay for, and a toolkit approach to defining the customer’s “job to be done.”
https://runfrictionless.com/b2b-white-paper-service/
1. Connect your CRM data. Don’t just collect it and keep it in silos.
2. Invest more in mobile. Mobile targeting and ROI are looking better than ever.
3. Personalize. It’s the big pay-off of all that data and analysis.
4. Measure, measure, measure. Know what works and double down.
5. Be up front about privacy. Consider the other side of targeting.
Tendências que irão transformar o marketing digital
Para 2013 os profissionais especializados apostam em big data, mobile e mídias sociais, revela relatório da ExactTarget
Customer service is more complicated than ever. Today’s consumers have more channels available to them, and as a result, more opportunity to go elsewhere for their products and services. To understand their high expectations, companies must know their customers better. Doing so requires a complete view of customers and their interactions with the company. This is challenging because customers interact through many channels, and information from each often is stored separately and hard to bring together. Thus companies need better tools than most have on hand. Using appropriate systems to integrate, analyze and manage customer information can make it possible to personalize the customer experience, engage with customers more fully, build loyalty and increase revenue.
Currently marketing is going through a revolution. We are seeing a fundamental shift from brands pushing marketing messages in one direction to organizations now getting involved in a two way engagement with their customers.
5 ways to boost customer loyalty using data analyticsgroupfio1
Great customer experiences lead to higher retention rates, increased brand loyalty, and bigger customer lifetime value (CLV). Improving customer experiences can seem like a straightforward task, but unless you base new tactics and strategies on tools like zero-party data, you might be putting in effort and resources in the wrong places.
So, what are some RIGHT ways to use data analytics to improve customer loyalty? Here’s 5 ideas to help you get started building that data-driven competitive edge.
https://www.groupfio.com/5-ways-to-boostcustomer-loyalty-using-data-analytics/
Marketing to small businesses requires nurturing and guidance to help build a strong foundation for growth. If this is new unchartered territory for you, consider incorporating these ideas into your marketing strategy to take on this new challenge.
White paper - Customer Experience TransformationPablo Junco
This white paper highlights the business value of customer experience as a differentiator and explores three critical enablers to guide organizations embarking on the transformation journey.
Predictive analytics reaps the value from CRM databases aided by customer segmentation, competitive intelligence, and learning from marketing campaigns.
Customers Are Channel Neutral: The truth about multi-channel marketingDavid Harkins
Originally written in 2003 as a prediction for what would come to be known as "Omni-Channel marketing."
______
From 2003:
The term "multi-channel marketing" refers to the process of building a customer relationship across two or more marketing or sales channels.The channels are those that are interactive,such as face-to-face,telephone,email,Internet,or perhaps direct mail.These channels provide an organization the opportunity to develop and maintain the brand promise as the customer engages the organization at each point of contact.
The term “inflection point” has multiple definitions. In differential calculus, an inflection point is a point on a curve at which the concavity changes from positive curvature to
negative curvature, or vice versa. In political science, an inflection point is a moment in history that dramatically alters a geopolitical situation, for better or worse. In business, Intel co-founder Andy Grove has described a strategic inflection point as “an event that changes the way we think and act.” Each of these definitions describes a moment at which our fortunes change — and in many cases, we can’t recognize the moment until
after it’s passed.
From Web Traffic to Foot Traffic: How Brands & Retailers Can Leverage Digital...Rebecca Lieb
My latest research report highlights how brands can harness the power of digital content and media to reach consumers and influence their in-store buying decisions. We surveyed 500 brand and agency marketers, including interviews with marketing leaders from PepsiCo, McDonalds, The Home Depot and Staples,
191 Castro Street, 2nd Floor, Mountain View, CA 94041 P 6.docxfelicidaddinwoodie
191 Castro Street, 2nd Floor, Mountain View, CA 94041 | P: 650-532-8155 | E: [email protected] | 1
CUSTOMER INTELLIGENCE:
THE KEY TO KEEPING
SAAS/CLOUD CUSTOMERS
There is good news and bad news for software
companies in the shift to the software subscription
model of the Cloud. The good news is that
revenues have become much more predictable and
stable. The bad news is that you have to keep
reselling the sale in order to retain those customer
income streams over time. The good news is that
there is more available data than ever before about
your customers. The bad news is that the data is
scattered all over the company and is therefore not
easily accessible.
The good news is that adding and supporting
application features and functionality is easier to do
in the Cloud. The bad news is that your
competitors will soon be adding those same
features to their applications too. The meaning is
clear. In the SaaS/Cloud business model, what is
really being sold is a relationship rather than
technological features & functions, and keeping that
relationship profitably going for as long as possible is
the core issue for long-term success as SaaS
company.
1
W
hi
te
pa
pe
r
Why should a SaaS company, especially if they think that they’re in their “land-grab” phase and therefore don’t have time
or resources to worry about churn at this point, invest time and money now in building dedicated customer retention
resources?
SaaS-Capital, a provider of debt-based growth capital for SaaS companies, answers the question. Churn is a cumulative
beast. The income that you lost last quarter continues to be lost next year and the year after. Consider their model of
two SaaS companies. Both sell only software subscriptions; no other income conduit is included. Both sign 10 new
customers per month @ $1,000.00 each. Both spend $120K per month on sales & marketing to acquire those
relationships (CAC). The only difference between them is that one has a customer retention rate of 95%; the other’s
only 80%. At the end of 5 years, the difference in bottom-line company valuation between the two was $15 million
dollars. Along the way, the company with the 95% retention rate also had increased revenues to work with, up to $24K
per month. That’s a lot of money – your money – both now and later.
THE HUGE COST OF CHURN
THE NEED TO KNOW
To make the initial sale, you needed to know quite a
bit about your prospective customer. What were
their business needs and requirements? Who were
the decision makers and influencers? What were
the timetable and the budget factors? All of that
knowledge and more made the signature on the
first contract possible. To get the renewal
signatures, however, you’ll have to keep that data up
to date and to add to it. Customer Intelligence is a
process that can’t have an end. It’s what you don’t
know about your customer relationships that can
cause you to lose them.
If the key ...
Mass marketing yields less and less from more and more as the number of marketing channels for communication and distribution increase in numbers. Predictive analytics finds the patterns that help to identify the clusters of customers more likely to respond to specific messages and offers.
Building Trust With Your Content MarketingJomer Gregorio
Earn your consumers' trust by improving your content’s authenticity and reliability. Learn vital tips and points through this presentation.
Full blog here - https://whitelabelseoagency.net/building-trust-with-your-content-marketing/
Published in Marketing Magazine July 2015Simon Rowles
Loyalty programs need to start (and sometimes re-start) with strategy. Outdated program engagement strategies aren't engaging customers. Instead they're breeding a consumer type : Deletists. 73% of them now close accounts & 60% delete apps to escape loyalty programs - Aimia Inc global research
2016 Lead Nurturing Report In Partnership With Salesforce PardotVeena Glover
Lead nurturing is a powerful marketing strategy and it is evident that marketers would like to continue reaping the rewards of their nurturing programs by setting a variety of objectives that revolve around this indispensable tool.
emedia and Pardot set out to discover the latest and greatest lead nurturing strategies currently deployed by the top tier marketers to drive their prospects through the buying cycle.
This report draws its conclusions from a 2016 survey that polled a large sample of B2B marketers based in EMEA and US/NA.
Insight into the mind of your peers: Discover the benefits that marketers have reaped, challenges they've faced and the future goals that they're now aspiring to.
You'll find top tips on numerous topics including segmenting data, personalising programs and marketing automation. This report will fuel your future plans and help you to design and implement successful lead nurturing campaigns.
Patient Loyalty: What it Takes to Earn Their Loyalty Sallie Burnett
Patient Loyalty Is Up for Grabs
Recent research showed consumers are just as likely to switch healthcare providers as hotels if they don’t get responsiveness and convenience. In fact, 61% would switch providers to get an appointment quickly. 52% would switch to get an appointment at a convenient location.
Those healthcare providers that develop strategies, capabilities and analytics to enable the key elements of a superior patient experience—speed to access, convenience, information transparency and personalized service— will be best positioned to outperform their peers.
This presentation gives you insight into the current healthcare marketplace and seven best practices for building patient loyalty.
Similar to THE SECRET TO BETTER CUSTOMER ENGAGEMENT (20)
Patient Loyalty: What it Takes to Earn Their Loyalty
THE SECRET TO BETTER CUSTOMER ENGAGEMENT
1. 1. THE SECRET TO BETTER CUSTOMER ENGAGEMENT I power2motivate.com
THE SECRET TO
BETTER CUSTOMER
ENGAGEMENT
2. 2. THE SECRET TO BETTER CUSTOMER ENGAGEMENT I power2motivate.com
When examining the various ways in which a business
can improve its bottom line, many organisations may fall
into the trap of believing that attracting new customers
is the most crucial goal. It’s an idea that makes sense
- the more people interacting with your company and
purchasing its products and services, the more cashflow
you should see coming in.
That said, improving acquisition isn’t the only side of the story as your existing
customer base may be ripe with untapped engagement potential. According
to research by Gartner, around 20 per cent of a company’s current customers
are responsible for as much as 80 per cent of future profits. With that much of
your business’ potential fortune lying with consumers you already have access to,
focusing on customer retention may be a better path to take.
Taking into account statistics like this, it’s somewhat surprising that more
organisations are still neglecting their current customer base, instead devoting
huge amounts of energy into capturing new clientele. A marketing survey carried
out by research firm eConsultancy found that just 15 per cent of respondents were
more focused on retention, compared to 40 per cent concerned with acquisition.
That’s despite the fact that the same survey revealed 82 per cent of companies
agreed that retention actually cost them less than acquisition in the long run.
If this research is to be believed, the source of most of your profits will come from
a market that can be engaged in a much more cost effective manner. The trick,
however, is how you earn the loyalty and repeat business of that market.
“eConsultancy found that just 15 per
cent of respondents were more focused
on retention, compared to 40 per cent
concerned with acquisition.”
3. 3. THE SECRET TO BETTER CUSTOMER ENGAGEMENT I power2motivate.com
THE INGREDIENTS OF AN EFFECTIVE CUSTOMER
LOYALTY PROGRAMME
In technical terms, Pricewaterhouse Coopers says the balance between incremental
revenues generated by profit and incremental costs is how one can gauge the
profitability of their customer loyalty programme. The financial impact on your
business from delivering communications, soft benefits including perks and
member events or general business overheads such as payroll should be weighed
against additional revenues you take in from running the programme.
With the right customer loyalty scheme, that balance should be measured
and easily observed or adjusted. Just as you should be constantly monitoring
the behaviour and buying habits of your customers to find new avenues of
engagement, how the service is delivered should be agile and easily tweaked
to improve ROI. To achieve this, you will need to make use of the information
collected over the lifespan of a customer, starting with the initial sign-up process.
CONNECTING WITH YOUR CUSTOMER BASE
THROUGH ANALYTICS
Customer engagement strategies can take a number of forms, however the end goal
should always be the same - to deliver an incentive that encourages further interaction.
“A compelling customer experience meets customer expectations and then exceeds
them,” says David Raab,principal at a marketing technology consulting firm Raab
Associates.In a study by Forbes Insights into effective engagement,he notes that using
collected data to read the demands of clientele before they even make them is incredibly
valuable.
“Assuming you know what your customer wants is the worst.Asking is better than
assuming.But observing real behaviour to determine preferences is the gold standard.”
It’s relatively easy to say all of this, but somewhat more difficult to put it into practice.
As the world increasingly moves towards the data-driven future, knowing the channels
where the most relevant customer information can be gathered is what separates a
profitable programme from one that struggles to perform.
4. 4. THE SECRET TO BETTER CUSTOMER ENGAGEMENT I power2motivate.com
SOCIAL MEDIA: Gone are the days of networks like Facebook
and Twitter being simply personal status or photo sharing platforms,
social media has evolved into a powerful marketing tool. Speaking
to TechTarget for its eBook ‘Taking action on analytics: Using data for
customer loyalty and retention’, Gartner research director Adam Sarner
says “the back-and-forth collaboration with things like social media,
where you can have that two-way communication, [means] you can
understand what a customer wants and needs and how to anticipate
them over time.” Opening up a dialogue on social media can yield an
endless stream of customer information; data that can be leveraged
into crafting a better loyalty programme.
GAMIFICATION. Research by Microsoft has shown that the
average human attention span is shrinking rapidly, from 12 seconds
at the turn of the century to just 8 seconds in 2013. Obviously
figures like this don’t bode well for an organisation trying to keep
people interested over a sustained period, but the possible cause
of our dwindling attention presents its own opportunity. With vast
segments of the population - particularly people under the age of
30 - constantly distracted by technology, introducing elements of
gamification into your loyalty programme can offer a fun hook to
keep customers engaged.
PERSONALISATION. In the battle for brand supremacy,
reaching out to customers as individuals may be an important
strategic move. While there is undoubtedly a large segment of
the population concerned about the collection of private data
for commercial use, a study by business intelligence firm Verint
learned that over half of consumers prefer a personalised shopping
experience. Essentially, the consumer desires a simpler model of
interaction, and were found to be more forgiving of brands that
they feel understand them. A careful use of customer information
to deliver personalised rewards can build that connection, and
strengthen engagement.
5. 5. THE SECRET TO BETTER CUSTOMER ENGAGEMENT I power2motivate.com
FROM LOYAL CUSTOMER TO BRAND ADVOCATE
As mentioned above, eConsultancy learned in their
survey that acquiring new clientele can be a costly
endeavour. According to Invesp, it may cost as much as
five times more to attract a new customer than to keep
existing ones. But what if you could rely on your most
loyal supporters to shoulder some of that acquisition
burden for you?
By focusing on the presentation of a service or product to those select few highly
engaged champions of your brand, the possibility of word-of-mouth referrals has
been observed to increase significantly. Given the aforementioned power of social
media networks such as Facebook and LinkedIn, the reach of one well connected
customer can translate to invaluable exposure for your brand. As Frederick F.
Reichheld and Phil Schefter eloquently phrased it in an article for the Harvard
Business School, “word of mouse spreads even faster than word of mouth.”
While so many organisations dedicate large amounts of their marketing budgets
to acquisition, by carefully implementing an effective retention strategy you
are essentially cultivating ambassadors to attract new business for you. These
brand advocates may in fact be the most valuable agents for driving growth,
with a Nielsen survey finding an impressive 92 per cent of consumers trust
recommendations from friends and family over all other forms of advertising.
“92 per cent of consumers trust
recommendations from friends
and family over all other forms of
advertising. ”
6. 6. THE SECRET TO BETTER CUSTOMER ENGAGEMENT I power2motivate.com
HOW POWER2MOTIVATE CAN HELP WITH CUSTOMER
ENGAGEMENT
There’s little argument that the world of customer
loyalty has changed, as digital technology continues
to seep further into all aspects of the modern business
environment. To meet the demands of your customers
and develop them into engaged brand advocates, you
need an innovative, forward-thinking loyalty programme
in place.
Power2Motivate has worked with hundreds of clients across the globe to improve
customer loyalty, and strives to deliver the best engagement solutions available.
Social recognition and points-based rewards drive the customer to be more
active, while our three-click reporting system allows you to track the progress of
campaigns, and easily assess ROI.
Having a fully engaged clientele is within your grasp - speak to Power2Motivate
today about how your organisation can unlock the potential of customer loyalty.