Customer retention is extremely important to smart marketers, and they understand this. Existing customers are five times more likely than new customers to make a repeat purchase, seven times more likely than new customers to test a new offer, and four times more likely than new customers to refer.
Whether you run an online affiliate tracking platform or a brick-and-mortar company, improving the customer experience is at the top of any marketing manager’s priority list. On the other hand, marketing is continually evolving, as is the nature of business and society. The emphasis is changing away from simply customer retention and toward customer collaboration as well.
The efficiency with which a firm captures and uses consumer input to improve the customer experience will determine its capacity to adapt to new trends and remain competitive in the marketplace.
Businesses often have many touchpoints with their customers and a large number of opportunities to encourage collaboration. We’re able to stay on the same page as our customers about what matters most to their businesses and how we can meet those demands. The most distinguishing feature of our company is the amount of engagement we have with our customers.
Customer Feedback is being gathered.
It is possible to obtain client feedback through various methods, which can assist you in understanding why customers connect with your offering in a particular way or why one feature is more popular than another. According to Kissmetrics, some of the most effective methods of obtaining consistent, high-quality feedback are surveys, feedback boxes, user activity, and usability tests, as well as simply reaching out and asking.
While there has been an increase in business intelligence tools, heatmaps, and analytics to analyze user activity online and even track customer movements in-store, the most basic measures are sometimes disregarded. Taking the time to chat with each of your consumers personally will give you a better understanding of what is going on (and give you extra brownie points if you treat them to a nice lunch or discount voucher).
Also important is that businesses make full use of their online communities, newsletters, and communication dashboards if they have one available for usage. Travis verifies, saying, “We solicit feedback from our online community and do online polls.” But we don’t stop there. We continue to innovate. Indeed, we intend to allow some of our customers to examine the work we are making on the new capability in order to determine whether or not we are moving in the correct direction.”
Keeping Your Customers on Board is Critical.
By 2020, it is expected that the customer experience will surpass both product and price in terms of distinguishing one company from another. Maintaining your clients’ loyalty, engagement, and happiness is critical to obtaining their repeat business and referrals. However, with so much competition available to the typical company just a few mice clicks away, how can they ensure that their consumers remain onboard?
Take, for example, Jeff Bezos’ internet behemoth, Amazon, which has expanded into nearly every aspect of our lives. Even though they accounted for a whopping 43 percent of all online retail sales in the United States in 2016, they still recognize the significance of consumer involvement.
Through attractive offers and promotions, such as Amazon Prime Days for prime members, they are able to thank their customers and give back. B2B affiliate programs, exclusive member discounts, and other incentives and revenue sharing models can all help keep clients from defecting to the competitors’ ranks.
“Because Scaleo operates on a revenue-share basis, we are focused on the same things that our clients want: success,” explains Travis. We win when they win, and vice versa. When they lose, we lose as well. We begin by establishing relationships with them and ensuring that their firm is set up for success with our affiliate tracking software.”
An organization using this type of financial model is incentivized to keep its users engaged and assist them in becoming more successful from a commercial standpoint. “We make every effort to ensure that they are actively utilizing our technology to expand their businesses,” says Travis.
Contact with a Single Person
In his research, Travis discovered that one-on-one communication is extremely successful in building client relationships.
According to Travis, by recruiting personnel with relevant experience to work alongside a specific client, “they have taken on a role in which they proactively reach out in a consulting capacity, solve high-level business challenges, and share best practices.”
In fact, previously criticized platforms such as PayPal and Upwork are improving their customer service by making it easier for customers to get in touch with them and have their problems fixed by direct communication with a representative. Developing initiatives to recognize and reward their most loyal customers, such as lower commissions or lower rates.
Hosting events to better understand your clients’ pain concerns and business models is another excellent approach to obtain face-to-face time with them. “Our annual user conference is one of the most important ways we keep partners engaged,” says Travis.
This year, we are going all out and bringing our entire team of professionals, allowing our consumers to have an unprecedented amount of access to get their issues answered.”
Collaborate with your clients to address their major challenges and assist them in achieving their goals. In the process, you will find yourself on the same “side of the table” as they are.
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