Relationship Marketing Strategies in 2020


Anton Shabatov - February 6, 2020 - 0 comments

Nowadays, being a god at attracting customers is no longer enough for effective business development. You need to learn how to make them come back. This is more complicated and requires a number of other competencies.

There is not a single business in the world that does not know what the “customer churn” is. But there is something that distinguishes successful entrepreneurs from all others: they are constantly working to reduce the churn. It allows you to create a loyal base of regular customers, generate repeatable sales, reduce marketing and advertising costs, and, accordingly, get a significant advantage over competitors.

“Advanced segmentation and personalization

Trends come and go, but there are those that show consistent stability every year. This is a course towards rapprochement and improvement of relationships with potential and existing customers. Personalized emails that are tailored to your preferences help customers view mailings as a friendly gesture, not an annoyance factor.
Do not forget about email verification service before launching email campaign.
I wish you a good open rate and reply rate!”

We decided to share with you 7 relationship marketing strategy ideas to reduce the customer churn, which you can start using in practice just tomorrow.

1.Facilitate the communication processes

In many cases, it is extremely important for a potential customer to get additional information about a product or service before making a purchase. Moreover, it may be necessary for him, for example, to clarify the features after placing an order and so on.

Give customers the opportunity to quickly get feedback using a convenient channel and in a convenient way. In addition to the usual phone number and email, you can use the social media approach – messages via the Facebook page, contacts in the WhatsApp, etc.

Even if a customer uses these channels to complain about quality or service, you can always get a chance to solve the problem instead of letting him just leave. 

2. Always analyze the churn reasons

Very often, it is caused by non-obvious problems that occur regularly. By eliminating them, you can stop losing profits and increase customer loyalty. Moreover, you can organize appropriate training for your employees.

Customers can go because you didn’t offer them the simple extra value that competitors did. The reason may be a high price, insufficient guarantees, consulting managers’ behavior, and many other things. But the only way to find out the real reason is just to ask.

This can be done by phone or email, as well as regular surveys to assess the satisfaction level and respond quickly if necessary.

3. Provide them with more information 

In order for the customer to continue using your product or service, try to provide them with appropriate information support. They must clearly understand what value you offer, know how to act in cases of guarantees and refunds, and have access to the necessary documentation and reference materials. Otherwise, he or she may start looking for this information from your competitors.

4. Offer additional incentives

It can be a discount for a second purchase, a cumulative bonus, or something similar including loyalty programs. Exclusive events and insights, nice gifts, free consultations – these things not only stimulate repeatable purchases but also greatly increase the loyalty to your company.

In the vast majority of cases, such maintenance costs pay off well by reducing advertising budgets to attract new customers.

5. Educate, not just sell

The best way to establish a trusting relationship with customers is to help them at all stages of choosing and using the product you offer. Investing in training your future customers and those who already bought from you allows them to better understand the features of your offer, get acquainted with the processes in the organization, and make it possible to feel closer to the company.

It’s about content marketing – blog articles, YouTube videos, PDF books, live demos of your goods — all this allows you to make your customers feel comfortable and informed.

6. Personalize customer services

On the online store website, this can be implemented through technical improvements, for example, you can configure the recommendations output based on views and order history, sending individual promo codes and other personalized offers.

7. Create the additional value

As an example, you can take a look at the hosting offers. One hoster offers just a place on the server, and the second one adds a free two-week trial period + client’s website transfer from another provider.

In fact, in almost any niche, it is easy to come up with, create, and convey to your potential customers the added value that your business offers. And this can be the very opportunity to stand out from the competition.

Conclusion

Reducing churn and establishing stronger customer relationships is necessary but not sufficient key to any business success. Yet, bringing in new customers is sometimes easier than keeping those that already exist. But exactly the customers who remain increase your chances of building a successful business as a result.

We hope that our article will help you solve this problem. There is no magic in it. It simply boils down to analyzing the churn reasons, eliminating them, and acting ahead of the curve.

And remember a simple truth: if you value your customers, they are more likely to value your cooperation.

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