Customer marketing, big data, brand advocacy… Just a bunch of industry buzzwords, right? While these terms can be tricky to decipher, they are a crucial part of approaching and building a successful marketing campaign.
With such a massive volume of consumer data and marketing metrics available, it’s important for businesses to know how to tailor their campaigns to meet their desired results. While it can feel like finding a needle in a haystack, knowing which data insights to use is a vital part of any customer marketing technique.
What is Customer Marketing?
Customer marketing refers to any marketing activity or campaign that’s aimed towards your current customers. Customer marketing efforts are meant to improve customer retention, reduce churn, and boost customer loyalty, advocacy, and participation. Providing your customers with customized types of communication is what converts them from prospects to advocates.
Benefits of Customer Marketing
- Get to know your customers
While other businesses are solely focusing on attracting new customers, customer marketing experts know the value of developing their buyer personas. Time is money, so invest your time gathering real-life examples of your current customers to imagine new possibilities for them.
- Create positive experiences
Creating a culture of great customer service is a great way to bring in new customers- but this principle applies to your current customers, too. Did you know that your existing customers are 50% more likely to try new products and spend 31% more compared to new customers? Don’t underestimate the power of great customer service. Positive experiences will always boost the chances of repeat purchases.
- Customer retention
Customer marketing strategies should aim to increase retention rates. If your customer marketing strategy is well-executed, then why would your customers ever turn to your competitors? Is your product messaging resonating with the right audience? Are your customers actively engaged in your business? The longer your customers remain familiar with your business, the more reluctant they’ll be to sever your relationship- which is great news for your retention rates.
- Brand advocacy
Brand advocacy is a fancy way of talking about word-of-mouth recommendations. If your customers like your business, they’ll do the advertising for you. Beyond that, existing customers are more likely to explore the rest of your company, leave you feedback on how you can improve, and trust you for future purchases.
Understanding the Customer Journey
The customer journey is a great way to target areas of growth and areas that need improvement. What do these five stages look like for your business?
Awareness: The number of visitors to your website or in-person location.
Consideration: The number of buyers that indicated their intent before an actual sale. This is the number of marketing conversions, or those that click add-to-cart, fill out a contact form, or request a product sample.
Loyalty: The number of recurring purchases or contract renewals.
Ambassador: The number of customers that have left positive reviews or promote your company to their social circles.
Optimizing each of these stages will help to increase conversion and retention rates for your business. Employ your customer marketing techniques step-by-step as you follow your visitors from first-time buyers to loyal clients.
How to Use Marketing Metrics for Business Success
Improve your social intelligence
Active cultural listening is one of the best ways to stay relevant today. Conversations surrounding impressions and feelings about your business are more valuable than gold today. Gathering data based on real facts in real-time is the best way to remain plugged into your customer’s experiences.
Retention, retention, retention
In the era of direct-to-customer branding, it’s getting harder to convince people to try something. Focus on long-term strategies for retention in addition to first-time awareness. This balance can help increase the number of advocates willing to market your brand for you.
Understanding your customer’s lifetime
Measuring the value of your customer over their lifetime with your brand is an important way to check the health of your business. Using data that shows frequency and recency of purchases on an individual basis allows you to measure value and fine-tune your customer marketing campaigns.
Looking for the Right Tool?
It’s easy for upper management to solely concentrate on new customer growth- at the risk of missing the big picture. You need solid, quantifiable metrics that you can trust.
Fenix Verify can help you implement a successful customer marketing strategy for your business with the following tools:
Social Media Monitoring:
Monitor social media posts for all locations and overall brand and provide responses.
Brand Standards Audits:
Measure employee feedback through digital surveys delivered through your company App or via QR codes.
Customer Satisfaction Surveys:
Gather direct customer feedback through digital surveys delivered through your customer-facing App or via QR codes.
Leave the hard work to the experts. Visit our website to schedule your free demo today.