5 Ways to Improve Customer Retention with Marketing Automation Tools. In other words, they’ve cycled through the buyer’s journey once and they’re ready to go through it again, but this time they know the way forward. Retaining Customers Requires Strengthening Relationships Although existing customers have already gone through your buyer’s journey once before, it’s still up to your marketing team to help guide them through time and again in order to strengthen the relationship and identify new paths those customers may not have traveled before. For example, you should capitalize on each new cycle as an opportunity to not only re-sell to existing customers but also to cross-sell and/or up-sell to them (this is a valuable frontier, as loyal customers are typically worth up to 10 times as much as their first purchase). 5 Ways to Use Marketing Automation Tools to Improve Customer Retention Strengthening customer relationships through marketing automation can not only help you keep customers coming back to your business, but it can also turn them into advocates and advisors for your business. With that in mind, here are the top five ways you can use marketing automation tools to strengthen your relationships with existing customers and improve retention: Create a seamless end-to-end customer experience: Letting customers simply drop off your radar once they make a purchase is far from a best practice. In this sense, you need to actively engage with customers to keep your business top of mind. Continue to personalize the experience: With what content are your customers engaging? Identify and support brand advocates: Beyond the value returning customers bring in terms of reduced acquisition costs and increased purchases, they can also become advocates for your business and reduce the legwork for bringing in new customers. Instead of making inferences, why not create a regular feedback loop where your loyal customers can share their thoughts and become true advisors for your business.
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Did you know that it’s seven times
more expensive to acquire a new customer than it is to retain
an existing one?
How about that a 10%
increase in customer retention yields a 30% rise in the value of
your company?
Grow Your Business From Within By Improving Customer
Retention
As the statistics above demonstrate, improving customer
retention is one of the most powerful ways to grow your business.
And the best part about that is that you’ve already done the
initial legwork to bring these customers into the fold: They know
who your business is and what you offer, they’re familiar with the
value of your product/service and they’ve seen how that value can
impact their business. In other words, they’ve cycled through the
buyer’s journey once and they’re ready to go through it again, but
this time they know the way forward.
Retaining Customers Requires Strengthening
Relationships
Although existing customers have already gone through your
buyer’s journey once before, it’s still up to your marketing team
to help guide them through time and again in order to strengthen
the relationship and identify new paths those customers may not
have traveled before.
For example, you should capitalize on each new cycle as an
opportunity to not only re-sell to existing customers but also to
cross-sell and/or up-sell to them (this is a valuable frontier, as
loyal customers are typically
worth up to 10 times as much as their first purchase).
However, whether you’re trying to re-sell, cross-sell,
up-sell or anything else, the most important thing you need to keep
in mind is how you can continue to build and grow your
relationships with your existing customers. That’s because the
stronger your relationships with them, the more valuable the
benefits you’ll receive. And when it comes to nurturing
these relationships, your marketing automation platform should
be your go-to source.
5 Ways to Use Marketing Automation Tools to Improve Customer
Retention
Strengthening customer relationships through marketing
automation can not only help you keep customers coming back to your
business, but it can also turn them into advocates and advisors for
your business.
With that in mind, here are the top five ways you can use
marketing automation tools to strengthen your relationships with
existing customers and improve retention:
- Create a seamless end-to-end customer
experience: Letting…
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