Get the Lifetime Value
For many going beyond service into relationship is something that’s happened ‘offline’, however it’s all changing now. There are two key drivers for this change.
Firstly, the consumption of digital media is now at such a high level that reaching people by email, text and social media is not only accepted, but also preferred.
Secondly the cost of contact by mail or phone can be prohibitively high in comparison to digital contacts.
However, the reality is that all customers are different, but as increasingly consumers adopt and acquire digital media, then they need to be reached where they are. Not where they’ve just left the building.
Customer Retention = Discipline
Making contact with customers is not an art form, even if the means of communication is pretty. Customer relationship is a discipline that needs to be embedded into your marketing strategy.
You should be reaching customers with timely messages, offers and news of genuine value to them. You should be on hand to field their feedback, to manage their concerns and respond quickly to their needs. And, in the most part, they are now using email and web to contact suppliers and brands.
Your customers should provide the most cost-effective route to sales growth as well as the best means of referral and recommendation. The challenge is: are you going to see these results happen?
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