Making Customer Retention A Reality
Converting a lead into a customer is a celebration-worthy event, but the momentum shouldn’t stop there. Your end goal should be converting that lead into a customer who will come back and purchase from your brand—or your customer’s brand—again and again.
We’ve already established that acquisition strategies are important: they help you achieve the goal of gaining new customers. But then what?
To build loyalty and maximize the lifetime value of your new customers you need to focus on their retention as much as (if not more than) you did on their acquisition.
You Can’t Retain What You Don’t Understand
How much do you really know about your customers? Do you know where they hang out online? Or what their hobbies are?
Do you know if they make purchases for themselves or if they also buy on behalf of their family? Do you know if they are budget-conscious or budget-optional?
Having insight into who your customers are, as well as their specific buying patterns and behavior, allows you to target them at the optimal time through the best channel with the right message—increasing the odds of additional purchases.
Data Helps You Know (And Grow) Your Customers
When you understand who your customers are, you’re able to market to them more effectively. The emails and ads that grab your customers’ attention are the ones that emphasize a product or service that’s relevant to their specific interests, in a way that’s appealing to their habits and lifestyle.
Having access to data selects like gender, age, income, marital status and children help you zero in on your customers’ interests and create an impactful message that develops more authentic customer connections and builds brand loyalty.
At Keono, for example, we work with customers to enrich their data with nearly 150 geographic, demographic and behavior data selects to help our clients gain a clear picture of their customer base—and establish a clear path to retention. We also hygiene a customer’s database so the brand and advertiser have the most updated postal addresses and deliverable email addresses.
One Size Does Not Fit All
Without data, your marketing campaign becomes a one-size-fits-all approach. And generic campaigns deliver generic results: poor click-throughs and little to no conversions.
To maximize your retention rates, you need to control and modify your message based on your knowledge of your customer base. And the only way you can know your customers is through quality data.