In some organizations and companies, it is very common to talk about “new customers”. Think about recruitment Marketing, find a way to seduce those who use competitive products or services, or show their qualities to potential new buyers.
If the brands are new, using this strategy is more than valid, because what we need is to start the beginning of the customer’s life cycle. Generate consideration, remembrance, trust, educate about the benefits, how to use it, and many other topics. We are working on the conversion funnel that will lead us to a sale, to a particular person.
But once we get that person to become our client and go through the early stages of the funnel, we have to think about how we can make them buy from us again and recommend us.
This is where you start working with Retention Marketing. Where we think about increasing the Lifetime Value (LFT).
Increase the frequency of purchase, the monetary value of each transaction, decrease the number of buyers who leave, reduce complaint levels, make the same customers recommend our products. These are some of the items that we have to take into account.
How do we carry it out? With loyalty programs, making personal and exclusive offers, offering bonuses for presenting referrals, emailing, retargeting based on complementary products to the purchase made, etc.
We always have to evaluate our Retention Rate, the opposite of the abandonment rate, to know how we are carrying out our work on our clients. So we must have our client base clustered, structured to be able to do intelligence work on it.
If we know more about our client, we will be able to offer him offers that are of his real interest. We must build the so-called Buyer Persona. Know what motivates it, what process it takes to purchase the product. Are you a decision-maker or influencer? And many more issues that allow us to sustain the commitment between the buyer and the company.
That is why we always have to work with campaigns to welcome new customers, active customers, those who are about to leave us, and reincorporation to those who left us. But in order to do this, we need to recognize customers and where they are at.
With data analytics, digital campaigns targeting 1st, 2nd, and 3rd party audiences, active listening to our customers and prospects, and working both digital and in-store customer experiences, we are more likely to have happier and more profitable customers.