Andrea Aker is the CEO of Aker Ink PR & Marketing , a full-service firm that helps companies build awareness, thought leadership and grow leaders.
The recession continued. Inflation is market volatility. Businesses of all sizes and in all industries face seemingly endless financial challenges. As cost-cutting measures are introduced, suppliers must prove themselves to avoid this obstacle. Businesses debate what is essential, and marketers must focus on generating new business and retaining existing customers.
Business acquisition and retention strategies are brief. Current customers are likely to have adopted the brand, mission and value of the product/service. But how can businesses build loyalty when their competitors offer bigger, better and possibly cheaper deals?
Start with a solid foundation.
You cannot build a house without a solid foundation. A statement chandelier or intricate crown molding cannot be installed until the cracks are repaired and the walls are solidified. Think of your marketing strategy this way. Without a proper foundation, your efforts will surely fail.
A customer relationship management (CRM) platform is the foundation of any business and not just for prospects. HubSpot, Salesforce, Zoho, and other CRM solutions can help businesses track cross-sell, upsell, and customer retention opportunities. Assess common questions, identify retention trends, and automate consistent, personalized communications to demonstrate value A company's retention strategies will derive from CRM, so make sure it's not only implemented, but that sales and marketing teams are trained to use it properly.
(PS Outlook or Google Address Book is not a CRM).
Educate, educate, educate.
The phrase “location, location, location” remains relevant in many environments, but in the digital and on-demand world, convenience is far from the only factor driving customer loyalty. With almost all information available (and countless social media posts for users' attention), "educate, educate, educate" is the new mantra businesses need to build customer loyalty in a digital environment.
The work does not end after the initial sale; This is where the real work begins by applying content strategies to demonstrate more value (clearly over your competitors) and build loyalty over time. Consider the following:
• Must-read email newsletters: Beat the sales pitch and learn by providing your customers with tips and opportunities to grow their business or optimize their operations with hard-to-reach newsletters. Discuss industry trends, case studies and relevant data with specific orders that match your product or service.
• Content strategy built around frequently asked questions: Create a content plan for your customers' most common questions and issues. Anticipate their questions with social media posts and blogs that confirm the effectiveness of your offerings while solving their problems
• Celebrate Milestones: Don't forget to celebrate your victories. While a spreadsheet may contain data, a video, infographic and perhaps an accompanying giveaway will be more memorable and build loyalty.
Centralize communications and resources.
Comfort and convenience are essential in our demanding environment. Consider creating an online customer portal to house the resources, templates, and tools your customers need to work effectively. While initial costs may be high and intensive, the long-term benefits and ROI are multiple: customers get what they need easier and faster, suppliers can improve customer service and reduce time and effort. Efforts associated with repetitive tasks. Questions and explanations of how it works. The customer portal also provides an opportunity to sell services and educate users.
Say thank you in a creative and memorable way.
Saying "thank you" helps a lot. However, saying words at a monthly meeting or in an email doesn't have the same impact as a broad gesture that truly communicates the value of the relationship. Think loyalty discounts, relationship-building activities, donations to mutual charities, access to exclusive events and special incentives for those who participate.
It's easy to lose focus on an already protected business. After all, you won. But as businesses examine their budgets, the need for different products and services will undoubtedly come into play.
To be indispensable, salespeople must not only perform well, but must continually prove their worth, continually educate customers, and build genuine relationships to maintain business. It not only provides financial benefits, but also creates a greater impact and makes everyday life more satisfying.
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