Let's face the facts, the cost of maintaining an existing customer is significantly less than the cost to acquire a new one. It's a fact that will never change.
Building loyal long-term relationships with customers is a process that develops over time and the main ingredients to the process are really simple... trust and value. The trust you build with your customers by delivering hi-value products & services and the value your communications carry for those customers.
Sounds like a plan, but as a Marketing pro you can't really control the delivery of your product or services, but you can do something about your company's communications. The more relevant your email communications, the faster you'll be able to gain readership, increase customer loyalty and keep them coming back for more.
Here are some simple ways to do just that...
Keep it Simple
Getting to know your customers better starts with collecting the right information. So be sure to customize your forms and give your subscribers options. This ensures you'll obtain the right data today, to give customers the real-time, relevant content tomorrow. In the beginning keep your forms simple, basic data points (title, name, home address, city, state, etc.), use the 2-3 minute rule for forms as a 'customer patience' benchmark and never ask a subscriber anything you wouldn't answer yourself. A well-managed list will yield trust and higher response later.
Case in point... By simplifying their online subscription process, The David Suzuki Foundation — who has worked to find ways for society to live in balance with the natural world that sustains us— has successfully leveraged opt-in list building to exponentially increase the size of their site subscribers. This unprecedented growth has helped them increase the reach of their advocacy and outreach efforts, while at the same time helping to increase their annual donations.
Deliver Real-Time, Relevant Content to the Right Person, at the Right Time
Well done! You've managed to get your subscribers to give you their information. But now that you've got it, they expect you to do something with it. So leverage the data you've collected to exceed the customer's expectations. Exceeding expectations generates customer loyalty second to none. Start by using the data you've stored to segment your audience into basic groups who share commonalities; geography, current/perspective customers, job title, etc. This will allow you to better hone the effectiveness of your messages and build stronger connections with your customers. Be sure to avoid "over-mailing." If your content isn't relevant, you will lose readers.
Offer Incentives
Relationships require give and take. Incentives are an easy way to encourage subscribers to give up personal data. Contests or discounts are a great mechanism. Offer a premium for completing a survey, or a free trial or product download. Anything perceived to add value to the relationship will keep your customers coming back for more. Next, respect the subscriber's opt-in preferences. Simply put, if a subscriber has initially subscribed to receive newsletters once a month, first and foremast, make sure you send a newsletter once a month. And if they haven't signed up to received special discounts, then refrain from sending discount offers or specials to them. Provide the value subscribers are looking for and you'll quickly establish long-term relationships.
Test Your Content & Optimize Your Next Campaign
Testing gives you the ability to exceed your customer's expectations. It quickly allows you to take the unknown out of the equation, allowing you to execute more effective email strategies, establish customer connections and develop longer-lasting relationships. Simple A/B testing will help you determine which messaging is working or not working. This will dramatically help you gain a better understanding of your target audience and enable you to give the customer what you now /know/ they want, not what you /think/ they want.
Conclusion
Infusing relevance into your email communications is a must-have for today's hi-growth organizations looking to develop long term, repeatable and profitable relationships. It's a fundamental necessity if you plan to remain competitive in today's global economy. Increasing customer loyalty won't happen overnight, but email marketing remains one of the easiest and most cost effective methods available in the march toward winning your customer's loyalty. I truly believe that if you incorporate these techniques into your communication strategy, that you will undoubtedly see results.
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Brian says: Our organization has found some success in this area by investing in an online marketer who's responsibility it is to ensure we are communicating effectively, meeting client interest needs and researches the web for relevant content. Our marketing dep't is too busy, and our IT team isn't set up properly to do this. Our Internet girl has proven to be a valuable addition, although that will be proven by web stats, which we'll be employing shortly based on your lead article :) |
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