The pandemic has slowed the pace of brands and enterprises to land new customers. Only by nurturing existing customers that they have a better chance to loyal in the long-run.
Acquiring customers is essential for brands to keep their business afloat. But, when odds are not their favor- especially the ongoing economic crisis- brands must make the best usage of what they have. That means pivoting more their efforts towards nurturing an existing customer than acquiring new ones.
Throughout the new customers and existing customer’s digital marketing journey, brands must make time to build and strengthen their relationship with them by actively engaging with them at each stage.
By providing the required and developing as well as iterating digital marketing strategies, brands move a step closer to creating a high-value customer. These results in lesser investment for convincing the existing customer to buy again, than to find a new customer.
Below are a few points brands can focus on to effectively nurture their prospects and existing customers while strengthening their relationship:
Milestones showcase how far a brand has come and how it has cope with the adversities that come in its way. By promoting products and services on business anniversaries, brands can remind their customers about their commitment towards improvement and innovation. Sending personalized emails on such occasions also can drive the click-through rate that can potentially increase the buyer’s purchase.
A Sense of Urgency
A sense of urgency helps brands to increase their conversion rate. If a particular product’s price has dropped, brands must remind their customers about it. Since they having been eyeing for the specific product or service, this can give the motivation they need to take the next step.
Along with creating opportunities for sales, crafting helpful messages that provide the benefits to customers can significantly drive better newsletter engagement and grow their confidence and foster a relationship with the brand.
Brands must take advantage of the tools and technologies at their disposal. Using AI software tools, brands can assess and anticipate their customer behavior over the new month or more. These insights can help to create messages across various touch points that result in increasing the expenditure of low-value customers.
Customers are always looking for best practices and methodologies to increase their operational efficiency. However, the customers that have shown resiliency and loyalty towards the brands should be awarded first for their support.
Brands should take initiatives that will give loyal customers early access to content, products or services. By being exclusive with customers, especially those who have made a recent purchase or have signed up to a mailing list, they can be made to feel appreciated and encouraged to stay connected with the brand.
Since an exceptional customer experience is essential for a business’s success, brands must make use of an analytical tool to track their customer’s behavior. Understanding customers’ behavior right from their interaction with the website to the steps they take to complete a certain step, and from buying the products or services to seeking a competitor, will enable brands to visualize their roadmap. This can help to find opportunities and the user-experience obstacles they might be facing that can successfully tackle by making required adjustments.
Acquiring new customers is important but so does nurture them. One without the other doesn’t work, yield better results. However, when the options are limited, such as in today’s case, investing more time towards fostering a better relationship is critical to tackling today’s uncertain times for survival and growth.