..BBYYY .Most companies focus so much on acquiring new customers that they forget the ones already part of their portfolio. This “leaving aside,” when you don’t focus on retaining these customers while using conventional marketing techniques or going with packaging options like mylar bags wholesale, nor on building their loyalty to make them promoters of your brand, ends up resulting in a high rate of abandonment or forgetting your business.
It is assumed that since the business may not have recurring revenue, loyalty-building is not important, but this is a mistake. Increasing the customer lifetime value instead of considering cost per acquisition becomes more important when working on customer loyalty. It means we invest less in sales and work more on better ROI.
The main goal of Inbound Marketing is to transform complete strangers into advertisers of your business through the sales funnel, involving several digital marketing fronts. Thus, it is possible to have a holistic view of the actions taken and better measure the results. But what does this have to do with customer retention?
In this article, we will learn the secrets that large companies have applied in their businesses to ensure customer retention and achieve success. You could adapt them to your sales strategies.
Starbucks: Know Your Audience And Their Needs
No one claim that any other coffee shop is more famous than Starbucks. People love going there because of the diversity of coffee and the atmosphere to enjoy coffee. So, the biggest secret behind the success of Starbucks is its improved services, constant improvement, excellent customer care, and personalization. Even the particulars given with the product packed in mylar bags child resistant tell about the brand. More interestingly, Starbucks provides internet access to all its customers to make its presence fruitful.
Starbucks Lesson: They know exactly what their customers expect from us. Moreover, they are aware of their customers’ habits. They do not bother about which of their coffee is the best. On the contrary, they love getting the real value of what they offer to their customers.
Inbound Tip: A marketing automation tool is essential to gather data and understand your target audience!
Apple: Competition And Differentiation
Apple is a much-differentiated brand, with a loyal audience and products that draw attention from their design and technology. The company invests heavily in the quality of its products. This way, it has differentiated itself from the rest of the personal computer market because of this. So how do you stand out from the competition and create a loyal and supportive audience?
Overseas, marketing strategies that explain why your brand is better than the competitors are widely used and gain a lot of repercussions. Apple used this artifice to compare the Mac and the PC, creating advertisements in a joking tone. The ad shows two characters that are the personifications of the brands and emphasizes the quality that the Mac would have and the problems of the PC, all in a funny language.
The advertisements help compare the two products generated great repercussions. It is because they not only focused on their qualities and defects but also identified the profile of the people who consume each one of the products, dividing them even more, the market and making their consumers more fans and engaged with the company’s causes, by identifying themselves with the characters in their advertisements and feel represented by the brand and the product.
Apple’s Lesson: It is important to know that your product is only for some. There is no point in fighting to conquer the entire market but in understanding who your audience is, their behavior, and how your product meets their needs so that the consumer can identify with the brand.
Inbound Tip: Create buyer personas based on your target audience. Understand exactly who consumes your products to offer what they need.
Amazon: Customer Retention And Loyalty
A great way to achieve customer retention is to implement in your sales tactics the option of subscription plans for products packed in mylar bags wholesale that would often be charged only once and separately.
Initially, your initial revenue may drop when your company creates a subscription plan for a service that would be charged per order. Still, the recurring payment is maintained, decreasing unstable variations and making the consumer’s purchase more enjoyable. Because for those who make many purchases over the month. It is possible to obtain advantages, such as not paying service fees for each order made.
Another more recent case is Kindle Unlimited, in which, through a monthly subscription, the user has access to the entire Kindle collection, being able to read as many books as they want in a month instead of paying per unit. This solution has helped increase the number of reads per month, decrease piracy, and bring recurring revenue with customer loyalty.
Amazon Lesson: Always analyze if it is possible to make your customer’s life easier and your revenue more predictable. Sometimes it is preferable to earn a closed recurring value per month than to have sporadic sales with higher values. Besides, by making the customer’s life easier, the tendency is that he will be much more loyal to your company.
Inbound Tip: If your product or service cannot be sold by subscription. You can build customer loyalty by offering content that is relevant to them. For example, if you have fashion e-commerce, you can send tips to customers given on mylar bags wholesale on how to combine pieces or on the trends for the next season. For this, you need an automation tool to automatically trigger this content according to the buyer’s personas you have created.
