Did you know that up to 66% of a brand’s profits rely on customer engagement? We all know that retaining an existing customer is more financially valuable to a business than obtaining a new customer. What many business owners don’t know, is that 66% of their overall profits rely on those loyal customers. So that raises the question: How do businesses make their customers loyal to their business?
The answer is simple: Customer Engagement. The truth is, a customer won’t feel loyal and connected to your business without communication between purchases. How can you be sure that the engagements you send to your customers are worthwhile and effective?
Know Your Customers & Target Your Engagements
What does it mean to target your engagements to customers? Businesses should know their customers’ purchasing habits and use that information to send out engagements that are informative and valuable to their customers. If you know that Sally gets her oil changed every three months, it wouldn’t be a bad idea to send out reminder text messages or emails when the time is approaching. Knowing your customers is the key to providing value to them and building trust through customer engagements.
Nobody wants texts and emails from businesses everyday. Reaching out to customers only once a year isn’t going to keep your business at the top of their mind. The trick is to find a happy medium and keep your communication consistent. Monthly or bi-monthly engagements are typically just enough without being too much, but depending on your specific industry and the services you provide, you may need to connect with customers more or less frequently. Consistency is crucial when it comes to customer engagement so loyal customers know they can trust you and are better able to keep your business in mind when your services are needed.
As previously mentioned, people don’t like to be contacted daily by businesses. They also don’t appreciate communication that provides no value to them. When connecting with your customers, be sure you’re providing value and making them want to open your emails and text messages. We all get excited about coupons and special deals being run at our favorite restaurant or clothing store, and the same could be said for home and auto services we need. Consumers love a great deal, so if you’re offering a coupon, let your loyal customers know!
Providing value also means that you’re targeting your engagements based on what your customers need from your business. If you have a customer who regularly gets their carpets cleaned, but never needs services for wood-flooring, it wouldn’t be effective for you to remind them to have their wood floors polished. Keep your engagements valuable by knowing your customers’ needs.
Up to 66% of a brand’s profits rely on customer engagement. Knowing this, business owners can’t leave regular engagement with their customers out of their marketing practices. Sending engagements to customers doesn’t have to be scary, especially when you realize how valuable it is to your business. Follow these tips for successful customer conversations!
For more insights on marketing strategy that actually works for small business, connect with Jay Bean, Founder of FreshLime and Small Business Marketing Expert on LinkedIn and Twitter. If any of these tips have helped you or if you have anything to add, please comment below. We’d love to hear from you!