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7 Critical Components of a Successful Marketing Plan in the Digital Age, Part 3
7 Critical Components of a Successful Marketing Plan in the Digital Age, Part 3

7 Critical Components of a Successful Marketing Plan in the Digital Age, Part 3

Cleveland, Ohio
August 04, 2017 02:11pm | Updated: December 16, 2017 02:15pm

mproved Customer Retention is “Critical Component Number 3” and the foundation of growing every organization. Why customer retention? Besides the fact it is so damn hard to attract new ones, a satisfied customer is not only your best source of new business, they are a critical referral source especially in the digital age. If your customer is not satisfied they might tell the internet damaging your hard-earned reputation. This article will review several concepts and techniques you can begin using today to improve your customer retention.

The Sale is Not Complete Until You Can Gauge Your Customer Satisfaction
The first step is to ensure you have a satisfied customer. It is critical to gauge your customers satisfaction level in the digital age. Develop a methodology that is customer friendly so they will respond with accurate data. Keep it simple and fast so you can maintain the methodology over time. It is imperative they share their satisfaction level with you before they tell the internet so you have an opportunity to fix or mitigate any issues. Check out this article about how to make your customer satisfaction actionable.

3 Reasons to Improve Customer Retention
There are 3 main reasons to continually improve customer retention starting with the fact it is substantially less expensive to maintain repeat customers compared to attracting new customers.
The best source of new business is your present customer list. Since they were satisfied with the last transaction they will usually come back next time especially if you remain top of mind. Satisfied customers will usually be open to subscribing to your blog or following you on social media channels allowing you to stay top of mind and greatly extending your reach by having access to their social sphere.

Staying Top of Mind is Easier Than Ever in the Digital Age
Staying top of mind is critical and easier to do than ever before thanks to the digital age. Staying top of mind with current satisfied customers gives them a reason to contact you next time and if done correctly may even increase ordering frequency.

Put Satisfied Customers to Work Promoting Your Business
They want to, really. Everyone loves to brag about their latest purchase or they were the first in the neighborhood. Sharing vendors and experiences is one of the favorite things people do on social media channels. When you get a referral from social media some of the creditability of the referrer comes with it. Studies continue to confirm your Next New Customer will trust online referrals, ratings and comments even from people they don’t know. Positive ratings and comments online from satisfied customers can drive your Next New Customer to you.

Two Reasons to Fix Issues Before They Can Tell the Internet
Bill Gates taught us “Your most unhappy customers are your greatest source of learning” so let your customer satisfaction program guide your continuous improvement. Following up with customers, especially if there is a problem is a wonderful way to show you care and can often mitigate issues at the same time you are improving your deliverables. The second reason of course is to protect your online reputation.

The Good News is People are Generally Habitual
Customers are often habitual and will usually call on the same vendor next time unless you give them a reason not to or a competitor shows up. Gauging your customers satisfaction can mitigate giving them a reason to try another provider but how to handle a competitor trying to take your customer is much more challenging.

They Won’t be Posting Poor Ratings if They are Still Buying from You
Encourage satisfied customers to publish ratings or reviews about their experience on social media channels or review sites. Who are they going to buy from if they are posting positive ratings about you?

Loyalty Program
A formal loyalty program especially in a B2C business can be a very potent tool. Once you start a loyalty program it is very difficult or impossible to take it away. So make sure you can afford it and can maintain it in the long term.

The Secret Is This “One-Thing”
The secret to success is really very simple. Your customers must feel you care about them. It’s that simple. If they feel you care they will purchase again, leave positive ratings and reviews and most importantly tell others in their social sphere about their positive experience with you.

Help Them Solve a Problem or Improve the Quality of Their Live
What better way to show you care than publishing content on a regular basis to help them solve problems and improve the quality of their live or the live of someone they love. Thank You and I look forward to hearing from you.

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Your next new customer has changed the way they buy . . . Have you changed the way you sell?