Customer marketing, relationship marketing, loyalty marketing… whatever you call it, it is important!
Attracting new customers will cost your company 5 times more than keeping an existing customer, and a five percent increase in customer retention can increase a company’s profitability by 75 percent.
Additionally, renewing a happy customer on average costs just 11 percent of what it would cost to acquire a new customer.
With stats like that, why are marketers (and I’m as guilty as anyone) so obsessed with putting customer acquisition at the heart of their strategy?
Let’s get started…
This is my favourite post, so I am putting it at the top, and I would strongly recommend you read it. It shows you how you can accurately measure your customer’s share of wallet. A great source for marketing ideas in general, the Harvard Business Review’s ‘The value in wowing your customers’, looks at the benefits in going the extra mile.
Micro-moments are an idea put forward by Google to represent our increasing reliance on mobile devices to get instant information about a problem (e.g. fixing a tap), business or product. With this in mind, businesses supporting their customer’s micro-moments are winning.
Brand loyalty is one of the most difficult assets for a business to attain. Here are 10 tactics for increasing customer lifetime value and loyalty.
User onboarding is a hot topic right now, and Samuel Hick’s breakdown of the best damn onboarding flow I’ve ever seen, has plenty of takeaways for you to use.
A legend in the filed of long-form, ideas packed blog posts, Neil Patel’s guide to creating an auto responder that subscribers can’t wait to open is jam packed with practical advice.
Vero’s ultimate lifecycle email marketing guide could (and probably should) be turned in to a book. It is big, and it is meaty, but it is worth your time.
Customer acquisition is easy to measure and report on, but how do you measure customer loyalty. Here is some some really useful guidance on how to quantify the value of customer loyalty.
Customer service isn’t a department argues that customer service is not just the responsibility of your support agent, but that it should permeate through the entire business – including marketing.
Groove’s blog is a goldmine for anyone interested in improving their customer marketing. I especially like their ‘How we grew our customer exit survey responses by 785%’.
Help Scout’s Creating customers for life: 50 resources on loyalty, churn and retention is a collection of some of my favourite reads on loyalty, churn, and retention, with a bias toward online businesses (particularly SaaS and ecommerce).
You should also have a read of their ‘Improve free trials by getting to know your customers’.
And finally from them, their 75 customer service fast, quotes and statistics is a goldmine.
Baremterics have shared the 17 emails they send to engage customers, reduce churn and increase revenue. Have a read here.
How well do you know your customers? Buyer personas are a great way to get in to the mind of your customers, and help shape your marketing efforts. Shopify have put together a guide on how to build buyer personas.
This post is part of my series pointing you in the direction of the best sources of information to teach yourself about various aspects of marketing.
Previous posts include teach yourself… Marketing a SaaS product, making and promoting an infographic, social media marketing, starting and writing a blog, paid search advertising, affiliate marketing, and SEO.