Customer Loyalty: 3 Ways Marketing Automation Will Achieve Your Goal.
26 Feb 2020
Did you know that customer loyalty is still as valid today as ever? 43% of consumers spend more money on brands that they are loyal to. Now, can your business afford to ignore this? Should you be looking at the ways you can increase it? With improved loyalty comes an increase in customer retention. This can have a big impact on your bottom line.
When there is so much choice at our fingertips, you may think customer loyalty is a thing of the past. But you will see that Marketing Automation makes customer loyalty even more achievable in a digital world.
If you know your customer and understand their needs, you can create customer personas to help you enhance their experience. By using marketing automation, it makes it easier than ever to run customer loyalty campaigns. So, you can deliver targeted, accurate and appropriate communications to your customers, instead of bombarding them with mindless messages
“A 5% increase in customer retention can lead to a 25% increase in profit according to Harvard Business School.”
The most important stage of the buyer’s journey for customer loyalty is the delight stage, which refers to the stage that takes place after the sale. It shows your business as a useful source of information and one that cares about its customers. And it is at this stage you can stand out from the competition and keep your customers coming back time and time again.
What are the benefits of Customer Loyalty?
Here are a few statistics about the benefits of customer loyalty:
● Your loyal top 10% spend 3x more per order than the lower 90%; the top 1% of customers spend 5x more than the lower 90%. – RJ Metrics
● The cost of acquiring a new customer is 5x-25x higher than the investment required to keep an existing customer. – GetResponse
● Loyal customers are worth up to 10x as much as a first purchase. – MarketingTechBlog
● A 5% increase in customer retention can increase a company’s profitability by 75%. – Bain & Company
Retaining your customers helps grow your business with upsells and cross-sells. But you cannot just wave a magic wand and create that loyalty out of thin air. Customers are only loyal when you offer a better experience than the competition.
Identify and support brand advocates
Marketing automation helps you track and reach brand promoters. And By targeting these micro-influencers with relevant content and offers, they will share your brand with enthusiasm. Thus, effectively increasing the impact of your messaging.
Use the lead scoring options within marketing automation to identify those who regularly download, share, and comment about your content.
Then invite vocal fans to join rewards, referral, or affiliate programs. You will show your appreciation for their customer loyalty and encourage repeat purchases as well as new ones.
Personalise the customer experience
In today’s world, personalisation is key. Modern consumers want brands that treat them as individuals and reward them for their loyalty.
Automated marketing allows you to personalise cross-channel campaigns, that make your audience feel special at every touchpoint. Combining your CRM with your automated marketing helps you pack a more powerful punch by ensuring you are delivering the right message at the right time.
Instead of guessing what your audience likes, marketing automation helps you track customers across different channels. It is like an old-fashioned salesperson who remembers your customers favourite colour or when their birthday is, but with all the convenience of being digital.
Deliver relevant content every time
According to Gallup, B2B marketers with high customer engagement scores achieve 50% higher revenues and 34% higher profitability. The secret to increasing engagement levels is sharing content that your customers want to see and will be interested in.
Instead of sending your audience basic, impersonal content like newsletters. You can target them with pieces suited to their engagement history and behaviours. Use the customer information stored in your marketing automation platform to sustain and grow your customer relationships.
Should you want to see how marketing automation could help you enhance your customer loyalty and how your business could benefit from using marketing automation, request a free SharpSpring demo.
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