Customer retention should be a cornerstone of any and all marketing strategies, no matter the industry, for the simple fact that it costs fives times more to attract a new customer than it does to keep an existing one. Despite this, 44 percent of companies focus more on customer acquisition than they do on customer retention (only 18 percent of companies focus more on retention than acquisition).
That being said, attracting new customers does tend to be a little more exciting than retaining old customers. So, if you'd still like to focus on new customers, that's okay; there are tools available to help boost your customer retention while still allowing you to focus your attention on new customer strategies.
Marketing automation allows you to automate your marketing for both retention and attraction campaigns. Here, we will focus on how you can use marketing automation to improve your retention strategies.
Seamless customer experience
Utilizing marketing automation means that all your communications will be consistent. Your thank you emails look like your feedback forms, tweets and Facebook posts are written in the same manner — all communications are consistent and seamless from the minute someone begins to communicate with you all the way through to purchase, referral, and retention. Frequency of messages is also made consistent through the use of automation. For example, if you want to send a follow-up email, instead of having to remember to do so manually, the platform will automatically send it for you at the same time, every time.
Personalization is key in today's digital marketing. You've known your customers for quite some time, long enough to know what they've purchased, what they've looked at on your website, what emails they've opened, and so on. Let marketing automation harness this information to create automatically personalized messages that appeal to each of your contacts on an individual level.
Leverage lead scoring
Take an active approach to connecting with clients but only when they're ready for you to do so. Lead scoring happens automatically within a marketing automation platform and allows you to see who is ready for that one-on-one call or who is ready for the special promotion email. Not having to manually track these scores saves you time and resources to spend on your customer interactions.
One of the main things that can help a company grow and improve is the feedback it receives. And, who better to ask than the clients and customers you've had for a while? Ask for their opinions through automated feedback campaigns, offer promotions for those that give you valuable feedback, and implement change based on the information you receive.
Are you ready to try marketing automation for yourself? Sign up for a free 14-day trial.