Keep Your Customers Connected to Your Brand with Retention Marketing

Did you know that around 65% of a company’s business comes from existing customers?

Creating a successful company is often about pleasing and retaining your current customers as opposed to reaching out to new ones. In fact, it costs 5% more to acquire a new customer than it does to keep a current one. If you’re spending all your time and marketing dollars on acquiring new customers with conversion metrics and landing pages, you might be neglecting an important audience: your current customers.

Learn the ins and outs of retention marketing so you can ensure your customers always come back for more.

Use Data Analytics to Target the Right Customers

If you want to encourage your existing customers to make repeat purchases, you need to use data analytics to get a sense of who these customers are.

You can create a portfolio of your current customers based on demographics. Figure out what kinds of customers tend to interact with your brand based on age, gender, interests, income, geographic location, and other identifying factors. Use this information to target the kinds of customers most likely to return for a repeat purchase.

You can also use data analytics to get a sense of your churn rate, the annual percentage of customers that stop interacting with your brand. Track this number overtime to measure the success of your retention marketing efforts.

Use Personalization to Increase Customer Engagement

Once you start collecting data on your customers, you can personalize your outreach efforts.

91% of consumers are more likely to shop with brands who provide relevant offers and recommendations. And brand loyalty among millennials increases by 28% on average if they receive personalized marketing communications.

If some of your existing customers return to your website to look at certain products and services, use these products in your retention marketing materials to cater to the customer’s specific needs.

Use the customer’s purchase history to recommend similar items, accessories, and special discounts.

Pull data from all your marketing channels, including social media, to get a sense of what motivates your customers. Are they trying to solve a problem, have more fun, or are they just looking to save money? Use this data to send personalized messages that resonate with your customers.

Keep the Conversation Going

Don’t abandon your customers after they make their first purchase.

Keep the conversation going by sending them follow-up information. This is where content marketing can really come in handy. Instead of sending your customers information about your latest products and services, send them content relevant to their needs and interests such as the latest tips and tricks, industry news, how-to guides, and other stories that help them make the most of their latest purchase.

You can include one of your blog posts in a personalized email. Produce content for channels that tend to be popular with your customers such as YouTube, Reddit, social media, and other industry-related channels. This keeps your brand fresh in the minds of your customers.

If you need help creating original content for your brand, attend a content marketing summit to learn about the latest tips and tricks.

Request Feedback to Improve the Brand Experience

No one will return to your website or brand if they have a negative experience the first time out.

If there’s a problem with your brand, you need to fix it before spending all your time and money on retention marketing.

Request feedback from your customers to get a sense of what they think of your brand. Use social listening tools to quickly analyze all your customer interactions on social media. This helps you identify certain trends in terms of what your customers think of your brand.

Use data analytics to figure out where you’re losing your existing customers. If they tend to abandon their shopping cart, you might want to adjust the checkout process on your website. If they log off your website after viewing certain products, try rewriting your product description or making your prices more competitive.

Hone in on certain problem areas and adjust your brand accordingly.

Retaining your customers is all about creating an unforgettable brand experience. You need access to lots of customer data if you’re going to target and retain your existing and former customers. Regularly audit your retention marketing efforts and make adjustments along the way to maximize engagement.