Learn how 30% of CMO’s focus on loyalty and retention?

By April 26, 2018 No Comments

CMOs believe that Retaining Existing Customers is the most beneficial for their brand

Customer retention and loyalty is the fundamental priority for all successful or budding brands.

We all know, marketing automation is dominating the lives of modern consumers. The most important tool to foster loyalty. CMOs prefer this tool deeply.

Brands need to use multi-channel automation to engage users. Promising both innovative deals and assured rewards in order to enhance customer retention and loyalty.

Brands that work around increasing bespoke experiences, rather than just improving the customer demographics, experience better response and healthier ROI compared to their customary campaigns.

With increase in multi-channel automation, brands have become more sophisticated in how they target their audiences. Result oriented marketing automation strategically pinpoints and focuses on enhancing customer retention and increasing the brand loyalty. The fast moving nature of the marketing techniques denotes that customers are mostly open to new ideas and CMOs are influenced by both the trending requirements of the brand and their customers. Whatever phase the marketing campaign is at, engaging the customer plays the biggest role in its development and the brand’s reward will inevitably be — better customer loyalty.

What is a customer life cycle?

The phases a customer passes through during the course of an ongoing relationship with a brand may vary, but the basic four basic stages of a customer lifecycle are acquire, serve, nurture and grow. The overall customer life cycle indicates that there are several threads running across each stage. In order to have an integrated view, the brand needs to plan its tactics and channels after the individual touch points are screened.

This will help in connecting the dots of business goals, buyers journey, sales cycle, customer experience, support marketing automation techniques and ultimately reflect on the ROI.

Though with time and technology, the customer life cycle hasn’t changed much, but the ways to acquire, serve, nurture and grow have. Thanks to the increasing result oriented strategies in the market, there are more options for both customers and brands. However for a better ROI, it is essential to have a complete view and understanding of the different stages in the customer life cycle.

Strategic marketing automation allows a brand to visualize its prospects and systematise relevant communications to the audiences throughout the stages of their relationship with the brand. Customer retention and loyalty drives relationships, which, in turn, drive revenue.

Here are a few facts indicating the inclination of a customer towards brand loyalty.

This is just the theory of probability but how do the customers feel connected to the brand through its loyalty program is the matter of concern. The word loyalty broadly speaks about the sense of faithfulness, dedication, adherence, trust, commitment and emotion towards the brand. A loyal customer is not essentially an advocate and a brand advocate is not always essentially a customer. That’s the reason, the type of industry, timing, regularity and other relative elements are often considered to define customer retention and loyalty for any brand.

Customer retention becomes more convenient when loyalty campaigns ensure that the customer is justly benefited. Tactical Multi-channel automation, helps the brand to increase traffic, turn prospects into customers, occasional customers into loyal customers and loyal customer into advocates.

Accurate data collection and a precise track of purchase would go in vain if there is no clear communication with the customer.

SMS integrated Marketing strategies ensure that the customer is regularly informed about his preferred product and offers related to it. By tactically utilising the ground level analytics and insights created, a brand can create relative communication to ensure the customer returns to the brand. With all of the marketing campaigns in place, the brand is now ready to gather more data, manage its relationship with the customer and communicate new promotions and offerings, through SMS integrated Marketing based on the success of the old ones. Customer retention and loyalty has its set of advantages for both the brand and the customer and here are a few facts that influence the customer loyalty.

Impact of Loyalty & Retention on the Brand’s ROI

Customer engagement is highly correlated to customer loyalty and directly affects the ROI of the Brand. It doesn’t just deal with the current customers but it begins the moment a potential buyer spots the brand or hears about it from someone. With increasing customer engagement, it more likely that the customers will spread positive word of mouth about the brand through online sources or verbally speak about the brand among peers. However, it is most important to engage the customers throughout their lifecycle if a brand wishes to use them as an advocate. Brands should organize, analyze and understand their customer data, optimize processes and develop an effective marketing automation strategy.

One of the multi channel automation tool that brands like Yes Bank, SBI, Stayfree, Blenders Pride, Mondelez CMO’s prefer to use to engage or effectively & impact fully say hello to their customers is Helo Campaign

Helo provides its customer the most cost effective and optimised way to target, retain and grow customers. It provides the clients with detailed ground level analytics. You could schedule a demo to figure out how it is lucrative for other brands. It has helped many marketers feel delighted with the ROI produced.

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