Stop for a second and think how good it would be if you could increase your company's profits by 95 percent. Or let's be conservative and ask for a smaller number, like 25 percent.
The truth is that all it takes is an increase in your customer retention rate by 5%, according to a study by Frederick Reichhold of Bain & Company (who invented the net Promoter Score, so he knows something about the relationship between customer service quality and business growth).
Taking care of existing customers is not as tempting as attracting new ones, but it is much easier and more important for business than catching new customers.
This policy is based on customer engagement. Think of Apple fans in the era of Steve jobs or cult followers of Zappos. When customers identify with the brand and interact with it, the brand begins a white stripe. So if you want to increase profits, as Reichheld predicts, here are five tactics you can use to increase your customers ' engagement.
Tactic № 1: Create on Slack for your community
If you run a business based in Silicon Valley, or you have at least one employee-millennial, you're probably using Slack today. Communication software has become almost as important as an email to many companies when it comes to collaboration and communication.
But Slack will be useful not only for your internal team, it can also be a useful tool for creating community and customer interactions.
Such companies as the tool of social media posts Buffer has achieved great success, creating a lively forum for its customers over the public channel Slack, and other companies such as Crispy Mountain, do the same thing.
Tactic № 2: Attract customers, not sell them
We reach a saturation point as a society when it comes to marketing and sales. Marketers and salespeople look-through interest in sales. The real interest in the case simply vanished.
Fortunately, there's a way to get back to reality: make your company a friend, not a transaction. You don't find and hold customers by simply selling them time. You create loyal customers by offering the value of that time. Sell only when you slip into the sales field.
You should not direct your social channels to promote your brand (or even to your e-mails). Instead, offer interesting or useful information while taking care of your customers until they become loyal and trusting. You will get the next sale from them. You just need to have patience and faith.
Tactic № 3: Integration of chatbot for your website
I know what you're thinking: a chatbot? Really? Live communication has its disadvantages, but it is irreplaceable!
You are not alone in this judgment. But we examine the issue further because companies such as LiveAgent changed their attitude to the chatbot for customer interest.
"Chatbots are one of the fastest methods of customer service, but they used to be terrible," said marketing guru Neil Patel in his report on the need to use the chat functionality on your company's website. "But it's different now. In fact, live chat and chatbots have become the exact opposite.”
This is because customers don't like to wait, and a modern chatbot created properly is an extremely easy way for customers to interact with the brand when they have a question, comment, or need help.
Tactic № 4: Make customer history light in the story
Social proof is a powerful force in marketing. It also increases customer interest because customers are fans of real stories, especially those in which you post their comments on your site. By adding their testimonials to your site, you help them identify with your brand because they are now part of the brand history.
So make it easier for those customers who want to share their stories.
One easy way to connect with your customers through the stories they tell is to have a page on your site where customers can easily share their stories and thoughts about your brand. Don't hide this page, show it in every marketing communication.
Another good way to encourage customers to talk about your brand is to ask about it on your company's Facebook page. Just ask. It's simple.
Tactic № 5: Launch joint contests
Finally, a good way to increase customer interest is to create joint contests between your brand and customer, and then reward those customers who participate in the contest with something like a coupon or special offer, encouraging the finesse of further purchases, and encouraging customers to participate in the same. time.
A good example is the Domino's Pizza Mogul campaign
The pizza company offered buyers the opportunity to offer pizza themselves, and then share and sell their recipes on social networks, paying customers from $ 0.25 to $ 4.50. Every time someone buys this. According to Domino's, 204 more than 700 customers took part in the campaign, earning approximately 965 925 USD.
So the next time you start planning your sales and marketing strategy, stop giving love to your existing customers. Encouragement of already attracted customers is not as impressive as attracting new customers, but it is guaranteed to bear fruit.
Translation and adaptation of JT Ripton article.