The customer is your biggest asset.
Though this is not a new thing that you will hear as a marketer. Today, in the customer-centric world, this phrase has retained severe importance for companies.
We live in an era where the consumers are more well-versed and preemptive. The age of information floating over the web has made customers aware of the need and benefits of products and services.
Consumers today have an abundance of opportunities and options that makes them hardly loyal to a brand – they are keen to experiment. Moreover, with the rise of social media, especially Instagram and Snapchat, it has empowered them to share their experience using different styles and brands.
Well, for customers, as this is a perfect way to showcase on the web, at the same time, it has a huge advantage to the companies as well. It has given marketers a perfect opportunity to easily track the activities with smart dashboards. Based on this, marketers can improve decision-making processes and develop effective strategies that will ensure customer loyalty.
With access to detailed analytics (dashboard), the companies have gained over 32% of the competitive edge in the market.
Customer loyalty campaigns have proven to be the most effective tactics used by top-notch companies to encourage loyalty among their consumers. Presently, with admin panel control and smart dashboards, they have mastered the new way to improvise their loyalty programs to reduce the churn rate.
Presently, consumer loyalty has become a more personalized method. The days of rewards and discounts are long gone. Companies have understood the significance of the KPIs, so now, they are consuming all their benefits. By offering customized benefits to the consumers, marketers have aced the customer retention goal.
Although, this doesn’t mean their job is done. Marketing is still a consistent process, and with the right tools and programs, companies are making it possible.
Now that you have understood the significance of dashboards, let’s see how NextBee’s admin panel and smart dashboard helps to provide control over customer loyalty:
Determine Customer Retention Rate
Isn’t it a cheerful moment when your new customers have become constant shoppers? Well, by monitoring the performance of the new buyers to turn them into loyal consumers and observing the metrics, you can make them the brand advocates.
Using the admin panel, you can calculate the retention rate. It is estimated by calculating the number of customers left (after a defined time period) to the total customers at the initial stage.
Admin Panel and Dashboards not only help you to analyze the loyal customers but also help in evaluating the reason behind the churn rate. NextBee’s admin panel can help you check the click-through rate, unique clicks, website visits, email check rate, survey feedback, purchase rate, etc.
Thus, the path to your company’s effective strategy goes through this method.
Recognizing Buyers’ Needs
Customers are flooded with a plethora of options. The presumption will not let you succeed; you need to be considerate about your strategies. Hit and trial method for marketing is only a route to lose, and you do not want that! Thus, using analytics, you can understand the customers.
Make social media your asset. It has already laid the path to communicate with the customers, so engage with them. Without interacting, you cannot understand what your consumers are looking for, so make Facebook, Twitter, LinkedIn, and other networking sites your tools for customer engagement.
Recognizing what your customers want will lead you a long way in outlining your customer loyalty campaign approach. The customers are your definitive recipients, so planning a program that will attract them to stay with you for the long run is crucial, and for this, you need to understand their needs.
Once you gain an idea of their needs, you can easily tailor the program.
How will you know that specific demographics or customer is the right customer for your brand? The easy solution here is customer segmentation. Before jumping right to the solution, let’s just put a light on customer segmentation. It refers to excluding potential consumers into categories based on certain factors like their requirements and behavior.
Crafting a loyalty strategy without customer segmentation is hitting the shot in the dark, which will not bring you the desired results. With NextBee’s dashboard, you can easily build a customer segmentation report. This will help you to analyze your customers and craft a strategy accordingly.
If you are looking for an effective way to amplify the customer loyalty campaign, you can draft the proactive tactic with a segmentation report. Once you have properly segmented the customers, it will be easy for you to build customized loyalty rewards.
So, in order to stay ahead in the race, segment the potential customers.
Gauge Loyalty Rate
The main aim of using the metrics is to check your loyal customers. This is the only reason you craft novel loyalty campaigns. As you know, customer loyalty is the most acceptable route for customer retention. So, you need to measure customer loyalty.
By using NextBee’s admin panel and metrics, you can measure customer loyalty. Different ways contribute to this segment, like redemption rate, engagement rate, participation rate, and so on. Calculating the data will help you to find out the loyal customers and VIP customers.
With the collected information, you can tweak the program that contributes to understanding your loyal customers. This is why it is advised by top marketers to have a hand on the KPIs to develop the right loyalty campaigns.
Thus, focus on customer engagement to earn customer loyalty.
Observe Customer Reaction
Interacting with your customers will prove a strong asset for your company and boost the loyalty program. Listeners always lead the industry! Thus, listening to your customers is the most important step. Pay attention to the details, ask them what they like, and according to that, craft a strategy.
Social media plays a greater role in this perspective, as most of the customers (present and potential) are already active on various platforms. You can use surveys that comprise four to five questions to find you what customers want. By using social media, you can seek their opinion. With this, you will gain the right idea to craft informed strategies.
Moreover, by using blogs and social media marketing strategies, you can educate your customers about your latest products and services. This will help the customers understand the prime function of your organization.
Customer observation, if done strategically, helps in understanding customer needs.
Use Promotions and Recommendation
Social media marketing and pay-per-click have changed the way marketing is done. As individuals are actively present on social media and various search engines, making these tools your optimum asset will serve you with the goal.
With paid advertising, you can target the ads setting particular demographics and target areas. Once the ad campaigns run, you can analyze the customer. With this, you can easily understand customers’ emotions based on the campaigns and reevaluate the ad groups and ads to gain more results.
Customer surveys are the smartest way to collect feedback. But ensure to keep the questions detailed and relevant that will help you in easing the decision-making process. With the feedback and campaign reports, you can design an effective and customized loyalty program for customer retention.
Feedback is your smartest route to gain complete control over customer loyalty.
Customer Referral Marketing
For every marketing strategy, a customer referral program is the most important component. So, you need to start tracking if you haven’t initiated this process. Customers are your best salesperson, as you know, the effect that word-of-mouth creates. Thus, making your customers happy will help you achieve referral marketing through testimonials, reviews, and references.
If you accomplish maximum customer referrals, then you understand your customers are satisfied with your service. With NextBee’s program module, you can set rewards for customer referrals to thank your clients for being an esteemed part of your organization.
By affiliating to an incentive program, several marketers have accomplished their goals. This small step taken as your marketing strategy will help you provide new business and gain valuable insights. With smart dashboards, you can track customer referrals.
Determine what your audience thinks of you through referral marketing.
Calculate Response Time
Does it take a long time for you to respond to your customers? Or are you consistent with the follow-up process? You need to understand that response time plays a significant role in customer satisfaction and retention.
Sales reps are always reminded to be active and follow up with the customer reach to accomplish their target sales. But, it isn’t always for the final sale; this effort should stay persistent, even after the sales tranche passes. You do not want to be the company that ghosts out when a customer needs you.
With dashboards, you can easily calculate the response time of your representatives. You have to monitor the communication outlets, active on phone calls or emails, even offer live chat to resolve any issue. Without customers, your business won’t propel, and customers need your time to respond wisely to provide quality service.
Don’t let any small negligence hamper your client relations.
Repeat Purchases By Customers
With programs like SaaS, you can strategically measure customer retention by calculating the time a particular customer stayed with your company. Whether they are your current customers or they are not. There is nothing in between.
However, product-based companies have a much more difficult time measuring retention than service-based companies. But, the question is – how to know whether they are still your customers or have shifted to another. The answer here is to look for repeat purchases.
With the graph of their purchase cycle, you can evaluate the presence of your customers. You can track KPIs through the dashboards, so you do not have to worry about the technicality of the NextBee’s program. By calculating this, you can re-strategize your marketing approach.
Make sure to dashboard your friend to find the strategic solution for customer loyalty.
After Conversion Activity
If you have enriched inbound methodology as one of your marketing strategies, then you are already aware of this process. However, there are still some businesses that overlook this.
Most businesses have their entire focus on generating new customers. Thus, in this race, they forget about customer loyalty. After you have successfully initiated a purchase activity from your present customers, you have to track their behavior on the website and other platforms. This directs on the way to customer engagement.
After conversion evaluation is your strong shot towards customer retention. You can easily track their activity, and based on that, you can create personalized incentives for customers that shows they are being valued. Once you see your customers are engaged with your products and services, you can start with referral marketing, which will help in customer retention and new acquisition.
Your customer behavior speaks about your strategies, so monitor the dashboard.
The goal here is to build relations with customers by appreciating their loyalty. With the correct use of NextBee Admin Panel and Smart Dashboard, you can gain mutual benefit and build a strong bond with your present customers.
Keeping your customers happy should be the primary goal in order to succeed. This will help you to build new and effective strategies, as well as will improve your organizational ventures.
Therefore, a happy customer is a win-win for the company!