Email is a great marketing platform for acquiring new customers we all know that but it’s also a awesome way of retaining and managing customers. It costs a lot more to find new customers than to maintain current ones, anybody in the business will know that. We put many efforts into getting new customers on board but how many of you have strategies in place to keep them satisfied, involved and seeking to do business with you?
There are some typical reasons why companies lose their customers. Here are the top ones:
- No relationship strategy for client contact
- Customer is not satisfied or disappointed with your product/service
- Your competitors grab them through better marketing and promotion
- Your client gets referred to somebody else
- Customer moves
The most common reason that businesses lost customers is not having any contact or relationship strategy. Looking particularly at those customers that you reduce, it is approximated that nearly 72% have left you because of this. Terrifying isn't it? Terrifying and so unnecessary.
So how email can help you?
Yes we are talking about segmentation, where knowing your customers, knowing their buying styles and keeping touching them will make all the difference.
Take a look at your current contact platform. What type of products/services are they buying from you? How often do they purchase? Do you have customers who haven't purchased from you in the last 6-8 months? Do you know what things you should be determining in your database?
With the number of companies I have worked, they all have a great database but the problem was they don’t know how to use that data to know what kind of message should they send through email. Mostly they sent out a few emails and if they don’t get expected result they drop it off. They don’t have any real strategy or consistency to speak.
Having a good segment management strategy for customers and delivering right messages at right time will make a huge difference in retention. Once you know more about your customers you can begin with strategies like loyalty programs, special deals for specific clients based on their buying behavior, surveys so that you can know what they want from you. If you can expertise the technique of sending right message at right time your customers will stay with you for sure.