7 Ecommerce Segmentation Hacks for Profitable Customer Loyalty
MARCH 9, 2015
While you won’t have those same face-to-face interactions in the online world, you know more about your customers than you think! With the right ecommerce and marketing platforms you have access to advanced customer segmentation that most merchants do not take advantage of. You will undoubtedly have your “Power Customers.” Gaining Customer Loyalty.
Tips to Improve Customer Loyalty: Necessity is the Mother of Retention
DECEMBER 22, 2015
My to-do list is clear, and all I have left to do is write a blog post about customer retention. Do they know I’m writing a blog post on customer loyalty? One thing is obvious, the Starbucks marketing team knows a thing or two about customer retention. Would you like to create a retention campaign that will make your customers think you’re a mind reader?
Identifying Buyer Profiles: 5 Ways To Segment Your Marketing Audience
It's All About Revenue
MAY 5, 2014
The challenge arises when you apply that to outbound mass marketing; without the right targeting and segmentation strategy , you might as well just walk over to that aforementioned security guard and give yourself up. Here are five starting points for consideration if you’re looking to enhance your segmentation: 1. Segment by Persona. ?The Segment by Geography ?Each
New Developments in B2B Loyalty Marketing
NOVEMBER 21, 2012
Business customers tend to be fewer and more valuable—meaning you can’t afford to lose even one. But how do you keep your customers active and buying from you, versus the competition? Let’s look at the traditional approaches to retention marketing in B2B, plus some new developments in loyalty marketing being adopted by B2B marketers today, including social media and gamification. .
Retention that Drives Revenue: 5 Tips for Customer Loyalty Programs
SEPTEMBER 26, 2014
Customer loyalty programs are a great way to boost sales and revenue. But they can be even more valuable when it comes to increasing the satisfaction and ensuring the retention of your high-value customers. According to Forrester Research , loyalty programs today are doing much more than driving more purchases and bigger profits. The Loyal Customer is Great for Your ROI.
Automated Behavioral Segmentation: Personalized in Real Time
DECEMBER 2, 2016
Automated Behavioral Segmentation: Personalized in Real Time Behavioral segmentation categorizes prospects in different groups based on their actions or engagement patterns. The Basics of Behavioral Segmentation The concept of behavioral segmentation in marketing divides a demographic based on behavior. Personalizing the content makes this a reality.
7 Customer Loyalty Programs That Actually Add Value
APRIL 3, 2012
According to Inc. , it costs a business about 5-10 times more to acquire a new customer than it does to sell to an existing one -- and on average those current customers of yours spend 67% more than a new one. So, what are you doing to keep your customers coming back to your business? If you’re like 65% of marketers, your company has implemented a loyalty program. Companies lose money on time and effort, and customers get no more value from the businesses to which they are "loyal.". So how do you keep your business out of that one-third segment?
Market Segmentation 101 for Retail Businesses
SEPTEMBER 4, 2015
One of the most valuable strategies for effective marketing is segmentation. What is marketing segmentation? Market segmentation is dividing your total market into smaller groups based on common characteristics. Defining your target market allows you to communicate better with potential customers. Why do we have to segment? Conclusion. All rights reserved.
Measuring the Pay-Off for Customer Loyalty
JANUARY 24, 2012
Let me take a minute to inundate you some commonly accepted facts about the impact of customer loyalty or the lack of it on an organization. 98% of the dissatisfied customers never complain, they just leave and 75% of the reasons these customer’s leave has nothing to with the product? Sixty seven percent of customers switch from one company to another because they didn’t feel appreciated? 85% of dissatisfied customers tell nine people about their poor experience and 13% tell 20 people; while a satisfied customer tells just five people? Measure.
Segmentation Ideas for Nonprofits and Member-Based Organizations
FEBRUARY 13, 2015
What I also know is that when it comes to mailing lists and email segmentation, there is plenty of room for improvement. Buyer personas are fictional characters based on your actual customers and target markets. You create buyers personas by dividing your customers into groups based on different attributes (like age, occupation, demographics, personalities). Active Members.
Is customer satisfaction really important in B2B?
The B2B Research Blog
AUGUST 1, 2016
Customer loyalty is critical to any business. This truism sees many B2B companies striving to satisfy and even delight customers. After all, the logic goes, if customers are happy then they won’t feel a need to change supplier – satisfaction leads inexorably to loyalty. Higher levels of customer service. The second segment are the ‘emotionally loyal’.
The Differences Between Behavioral Segmentation and Audience Segments
NOVEMBER 11, 2016
The Differences Between Behavioral Segmentation and Audience Segments Behavior-based marketing tactics are commonly broken down to ‘fixed audience segments’, and ‘behavioral segmentation’. However, profit is lost by ignoring huge segments including women and those outside the age bracket. Loyalty – Engagement metrics can be an indicator of loyalty.
4 Latest Loyalty Marketing Strategies
Manhattan Marketing Maven
MAY 13, 2013
Marketers have been manufacturing consumer loyalty through rewards and loyalty programs since the 1970s. And yet in spite of competition and attrition, fifty-seven percent of respondents say they modify when and where they buy to maximize loyalty benefits. Loyalty marketing is personal, fickle, schizophrenic and well worth doing. Building and sustaining loyalty is tricky. Enter Maritz Loyalty Marketing who recently published its first US Loyalty Marketing Report, under the leadership of Scott Robinson and Bob Macdonald.
27 Ways to Slice & Dice Your Email List for Better Segmentation
MAY 31, 2012
We've already made the case for list segmentation in email marketing , and we sure hope you've bought in. Still in need of a little refresher on the merits of email list segmentation? Alright, now that you're undoubtedly on board with list segmentation, you're probably asking yourself how you should slice and dice your own list. 27 Smart Ways to Segment Your Email List.
One Case Study Helps Land FIVE Major Customer Awards
Stories that Sell
OCTOBER 22, 2013
Never doubt the power of a single case study or the positive impact for the featured customer. Last year, United Airlines racked up five major awards - and countless resulting PR - for its CRM and direct marketing efforts for the MileagePlus loyalty program: • 2012 Gartner and 1to1 Media CRM Excellence Awards – Silver. • 2012 1to1 Media Customer Champion.
Customer Success and Marketing: 3 Strategies to Improve Customer Retention
JUNE 13, 2016
However, companies that invest in and document customer success and marketing strategies are poised to win big. The cost to acquire a new customer remains 5x higher than retaining an existing one. Yet, B2B companies continue to invest in customer acquisition strategies instead of retention. RELATED: What Is Customer Success Marketing? Want more on customer marketing?
Loyalty vs. Retention Measurement
MARCH 3, 2014
Companies who want to retain or expand their relationships with existing customers are finding that measuring and modeling customer loyalty is very valuable. We were recently asked “Do you need to measure loyalty if you are measuring retention-aren’t they the same thing?” Retention is a measure of whether an existing customer continues to do business with you. That is not to be confused with loyalty, which measures a customer’s predisposition to select a business entity as a preference, and indicates a certain resistance to competitors.
6 important data points to record on your customers
AUGUST 26, 2016
Customer data is one of the most important parts of your business success. If you’re not already using a customer relationship management (CRM) platform to collect and manage the data , you should be. Regardless of whether your business is online, brick-and-mortar, or a hybrid of the two, you should be maintaining a database of your customers contact information. Gender.
6 Holiday Campaigns That Drive the Customer Journey
Modern B2B Marketing
DECEMBER 27, 2016
There are plenty of creative ways for marketers to leverage the holiday season to drive their business objectives across the customer lifecycle –gaining mindshare, acquiring new customers, retaining and selling more to existing customers, and bolstering loyalty. Retention/Loyalty. Awareness. For the holidays, tie your content and campaigns into the same theme.
Rethinking Market Strategy In A Digital Economy
OCTOBER 23, 2016
The primary course of conversation in the past few years for CMO’s and their marketing teams has centered around customer centricity, customer experience, and content marketing. Customer behaviors have significantly shifted in the last decade impacting conventional thinking on the role of marketing and sales and their abilities to connect with customers.
Social CRM and Return on Marketing: Customer Life Cycle Value
JULY 22, 2011
No customer-centric business process should be isolated. Every business should be working on integrating all data platforms, silos, marketing channels and businesses processes right now in order to have a single customer view and 360 degrees social CRM approach. Getting the customer and data basics right. Do you know the value of the customer life cycle? Integrated.
Five Proven Practices for Customer Experience Mapping
MAY 12, 2014
Customers are the most important part of any business, and keeping them happy should be at the top of your list of priorities. If your organization is among those that have created customer experience maps, kudos to you and your team! Before we offer advice for mapping the customer experience, it might be useful to make sure we’re all on the same page in terms of what we mean by customer experience. At VisionEdge Marketing, when we refer to customer experience we mean the points of interaction between the customer and an organization.
Want To Know How To Harness Data and Optimize Customer Experience?
It's All About Revenue
AUGUST 25, 2016
Data and customer experience (CX) may be the two biggest things on marketers' collective minds right now. Marketers around the world want to know how to best use data and optimize the customer experience. They have become more unforgiving of a poor customer experience and expect their desktop and mobile devices to be responsive, efficient, and easy to use. Personalization.
Emerging marketing trends for 2016
APRIL 13, 2016
After looking through many of the trends we are seeing, the common themes across almost all new marketing initiatives have to do with delivering excellent customer experiences. Here are 5 marketing trends that all impact the customer experience. Loyalty Programs Continue to Expands: Loyalty programs are often what sets one company apart from others. Like this post?
The Good, the Bad, and the Ugly in Using Customer Data for Marketing
DECEMBER 4, 2014
There are good things about collecting customer data – catering to consumer preferences, ensuring relevant communications, anticipating needs in convenient ways. There are challenging things about collecting customer data – privacy concerns, data usage restrictions, maintenance and security demands. year-over-year growth in their customer win back rates, and an 8.1%
Clarity on Customer Analytics for Marketing: A Q&A with Lynn Tsoflias
MAY 28, 2015
In the realm of customer analytics, in particular, where the allure of deep, thorough, and relevant insights on customers makes the business case almost irresistible, what do you really need to know to be successful? Lynn Tsoflias: Obviously, just collecting customer analytics has no value if you don’t use the data. Customer Experience TrendingAre they active users?
Ask Customers What They Want to Say, Not What You Want to Hear
B2B Marketing Unplugged
DECEMBER 1, 2014
We’ll gobble the segmentation analyses, we’ll gobble the revenue reports, we’ll gobble sales trends, industry data, exchange rates, Net Promoter stuff, referrals, even longitudinal consumer whatch-a-call-its. Here is the horrible little secret we never like to admit about this kind of data: our customers do not tell the truth. Refreshing Look at Customer Loyalty.
3 Steps to Formulating an Effective Customer Nurturing Strategy
Modern B2B Marketing
SEPTEMBER 29, 2015
Whether your business is an e-commerce enterprise, a for-profit university, or health insurer, your target audience needs to be engaged through acquisition, retention, loyalty, and ultimately, advocacy. Customer nurturing involves building effective and long-term relationships with potential customers throughout their self-directed journeys. Set the right goals.
Can CMOs Master The Customer Experience For Hispanic Shoppers?
Buzz Marketing for Technology
OCTOBER 25, 2013
What’s more, the Hispanic sector is the fastest-growing ethnic segment in the U.S., It comes down to a CMO’s willingness and ability to listen to and observe what customers are doing online, what types of sites they are visiting, what types of keywords they are searching for online, their purchasing behaviors and the like. According to the U.S. million in 2000 to 50.5 by 2050.
Customer Journey Maps: The Great Unifier
SEPTEMBER 25, 2015
Marketing departments segment their resources by functional specialty (or “centers of excellence”), but they don’t unify resources around the thing that matters most: The customer journey. When was the last time that you created a customer experience ecosystem that transcended the digital ecosystem? Making the Customer Journey Visible Uncovers New Opportunities.
The Customer Experience Success Triangle: A CEO’s Perspective on Why Companies Need to Invest in Customer Experience
AUGUST 3, 2016
In the past, customer-centric programs haven’t appeared to directly yield profits so CEOs passed on them in favor of other, more immediate solutions. This resulted in management professing a fleeting commitment to customer programs, but never making them a core strategy. Related: Great B2B Customer Experience Require Customer-Centric Marketing. Product. ” . People.
3 Ways for B2B Marketers to Invest in Customer Retention
Modern B2B Marketing
NOVEMBER 18, 2015
Increase your wealth of customers. For marketers, that wealth is customer retention. In fact, increasing customer retention rates by a mere 5% increases profits by 25% to 95%, according to Harvard Business Review. You have to constantly be out there winning your customers’ business over and over again each year, or someone else will. Quite a lot. Love the idea?
Don’t Let Prospects Get Lost: Create a Customer Journey Map
MARCH 3, 2015
The same is true for the buyer’s journey, especially for B2B customers with a long and possibly complicated trip ahead of them. And to be good guides, we need to fully understand the journey each customer takes when they engage with our company. The B2B customer journey is generally seen to have five stages: Attract, Capture, Nurture, Convert, and Expand. Attract. Nurture.
3 Must-Haves to Convert One-Time Shoppers to Loyal Customers
It's All About Revenue
JANUARY 27, 2016
Part of that reflection needs to focus on leveraging 2015’s data (especially the customer information gleaned in the holiday bustle) and using it to convert one-time Christmas buyers to all-the-time customers. According to Marketing Metrics , the likelihood of selling to existing customers is 60-70 percent, while the probability of selling to a new prospect is 5-20 percent.
Marketing Hacks: 10 New Ways to Use Your Marketing Automation Platform
MAY 2, 2016
Marketers are no longer focused as narrowly on the acquisition of new customers; they’re spending time and resources nurturing their customers to be successful, and those customer relationships to be long-term. Customer marketing can be considered the Expand stage of the customer lifecycle. New Customer Onboarding. Customer Use Expansion + Retention.
Managing Marketing Content Across the Customer Life Cycle
NOVEMBER 12, 2013
Considering our purpose as marketers, we should be placing customers at the center of our marketing efforts. That’s truer today than ever before, because customers have more choices, more control, more ways to connect, and more access information. No No wonder marketers everywhere are scrambling to develop content and make use of the myriad of channels to reach and connect with prospects and customers. . The Customer Life Cycle . How can we record this process when most customer buying journeys and lifecycles are not linear? Contact . 2. Connection . 3.
Confessions From Your Customer – Yes, Yours
Modern B2B Marketing
MAY 20, 2014
Not only do I abandon brands and companies, I also abandon my loyalties — even when I honestly prefer one brand over another. I use Safeway.com for groceries, and Amazon Prime for pretty much anything else, but in a pinch, I’ll just as easily use Instacart or Taskrabbit or Craigslist. The average customer is exposed to at least 2,904 media messages. abandon things. Yes, conversations.