- 10 Jul
What It Really Takes to Earn Millennial Loyalty
For the past few years, it has seemed as if every conversation around loyalty, circles back to Millennials. And rightfully so. Millennials are now the largest generation living in the U.S. And collectively they possess an annual spending power of $600 billion.
What Millennials Want . . . ?
With this in mind, it’s no surprise that companies across all industries and verticals are catering to the needs of Millennials as a way to earn our loyalty. Thankfully for brands, 80 percent of Millennials already participate in loyalty and rewards programs.
However, above all else, millennials value their time, energy and hard-earned money. And while they enjoy incredible spending power, they prefer experience to ownership. If brands want to capture this demographic, they will have to abandon traditional, shopworn loyalty strategies. So, to learn how, read the full article at
- 25 Mar
B2B Customer Experience: Why It Matters and Where to Start
Customer experience matters. And it does so to the tune of $1 billion a year for SaaS-based companies alone. And most CMOs know customer experience matters. But sadly, only 57% of them report marginal customer experience impact.
Good or Bad, Customer Experience Impacts Your Business’ Bottom Line
In support of that proposition is a recent study from the Temkin Group. They found that when faced with a positive customer experience customers actually spend more. They also found that 86% of buyers are willing to pay more for a great customer experience. And that 73% of buyers point to customer experience as an important factor in purchasing decisions. Plus they discovered that 65% of buyers find a positive experience with a brand to be more influential than great advertising.
So, customer service matters. We have long accepted that principle in B2C. But today it is even more important for B2B companies. And to learn exactly where to start, read the full article at Heinze Marketing’s Blog
- 22 Feb
The Real Secret Behind Growing Brand Trust With Customers
Customer trust is the cornerstone of any successful business. Yet, many businesses simply assume that customers will trust them from the start. And very few put much effort into building confidence and trust in the market.
Customers Tend to be Skeptical About Businesses They Don’t Know
And according to the Edelman Trust Barometer, consumer trust in business has remained stagnant over the past few years. What is stunning is that almost half of buyers report they are generally distrustful towards branded messaging.
Building trust with your audience is even more essential for businesses today. But convincing a new customer to trust your brand enough to share their hard-earned money and sensitive financial information can be tricky. So, to see some of the best strategies and approaches to build meaningful trust with your customers that will lead to higher sales and greater loyalty, read the full article on Jeffbullas’s Blog.
- 18 Feb
The Ultimate Guide to Relationship Marketing
There is power in relationship marketing. By now, that should be a given. But, it all starts by offering customers unparalleled levels of service. And, rewarding long-term customers.
Its all about demonstrating a true desire to cultivate a deeper relationship with your audience. And done right, it can mean spending less acquiring new customers. Then, its existing customers that are doing the heavy-lifting for you.
But What is Relationship Marketing?
Relationship marketing is a different type of marketing. It’s one that focuses on cultivating a relationship with customers that is deeper and more meaningful. It is designed to ensure long-term satisfaction and brand loyalty. And, it’s focus is on delighting your customers for the long-haul.
So, let’s take a look at some relationship marketing examples. And then explore how you can implement a strong relationship marketing strategy in the full article at HubSpot.com
- 11 Jan
Email Benchmarks: Almost Half of New Subscribers Churn Within A Year
from Marketing Charts
According to a recent study on subscriber engagement from Return Path [download page], on average, 44% of new subscribers will churn within 12 months. And this means that close to half churn within the first year of being on a list,.
The study did show the importance of engaging customers as soon as possible. If contact is made in the first month, just over a third of subscribers to program email lists are lost. And that makes Welcome campaigns even more critical to email program success.
To see more of the data and insights, read the full article at MarketingCharts.com
- 04 Jan
6 Promotional Marketing Trends to Watch in 2019
Promotional Materials Still Maintain a Strong Impact
But interestingly, non-digital channels still hold a huge amount of influence in today’s internet driven world. And of these, promotional marketing could be seen as one of the most consistently successful at both driving sales and brand presence. But, it helps to know what your customers are looking for in the promotional space and to recognize the trends.
After all, what do customers value from promotional materials? To learn the latest trends that are emerging in promotional marketing and how they will shape this still powerful marketing strategy in 2019, read on at Jeffbullas’s Blog.
- 12 Jul
Do People Share Good and Bad Customer Experiences?
from Marketing Charts
People around the world say that customer experience is a competitive differentiator for brands. But do good or bad experiences reverberate beyond the customers themselves? As it stands, most people will tell someone about a very good or very bad experience. This according to new research from the Temkin Group.
Are Consumers More Likely to Complain or Brag?
In fact, only around one-quarter (27%) of US consumers surveyed in Q1 reported being silent about a recent very bad experience with a company. It turns out that respondents were more likely to have not shared a very good experience. Of that, one-third indicated they didn’t tell anyone about the experience. As such, the results suggest that people are slightly more likely to share a very bad than a very good experience.
To see more insights into how people are sharing their brand experiences, read the full article at MarketingCharts.com
- 06 Jul
5 Simply Awesome Email Automation Funnels To Build Today
by Aaron Agius
How much importance do you place on leveraging your email list? A little? A lot? Do you send out a monthly news round-up? Notify your contacts when you release new products or roll out updates? Or wish your subscribers a happy birthday?
While there’s nothing wrong with any of these, you could be making your email list work a lot harder for you. How? By creating email marketing automation funnels.
Email automation funnels use triggers to send out emails when a particular action or series of actions occur. The complexity of creating these funnels can vary. They can range from the simple “welcome” email to an email that targets visitors after they’ve completed a very specific set of actions that deems them “ready” to convert.
So, if you are you ready to get started, then here’s five simple email marketing automation funnels you can build today in this article on Jeffbullas’s Blog.
- 29 Jun
The Ultimate Guide to Email Marketing
Can you imagine it? The first marketing email was sent in 1978. And, surprisingly to the senders, it resulted in $13 million in sales. It was that email that kicked off what has become one of the most highly used marketing channels even to this day. But, given its early beginnings, email isn’t as shiny as some newer channels like messaging and social. But it is an effective way to build an owned audience that gets results.
And, no, email isn’t dead. And, email marketing isn’t spam.
Even to this day, email remains one of the few marketing channels we can use to build an authentic connection with the humans that keep our businesses alive. It is a tool. And like any tool, if used properly, its and asset to your business. You need to use this tool to build upon an existing relationship with every person on your list by providing relevant, valuable information that will help them take action on their goals.
But, email marketing isn’t just about you, or your company. It’s about your customer. So, to see why email marketing is still one of the most important elements of your marketing strategy and how you can use it responsibly and effectively read the full article at HubSpot.com
- 21 Jun
The Best Marketing Strategies to Get More Out of Existing Customers
from Marketing Charts
It Never Hurts to Ask, Now Does It?
They wanted to uncover some of the best ideas finding the most success when it comes to getting more out of their existing customers. So, they asked 179 senior marketing leaders, primarily at B2B and hybrid B2B and B2C companies, what works for them. In particular, they delved into the strategies respondents are using to realize greater revenue and profitability from existing customers.
To see what they discovered, and to download the original report, read the full article at MarketingCharts.com
- 20 Jun
Upselling Can Help Stem Churn and Increase Retention: Study
Churn. It is a word that strikes fear into the hears of every SaaS and subscription based business leader. And yet, it is a reality of life for them. Some will see year-over-year subscriber increase, only to have customers leave unexpectedly. That is called churn and it can make the difference between success and failure for a tech startup in that space.
So, How Can the Churn Issue Be Solve?
To answer this question, Vendasta conducted a study [original report]. They looked 100,000 SMB client accounts and uncovered some surprising conclusions. The most surprising is that selling those at-risk customers more, can be key to reducing customer churn. As it turned out, upselling customers within the first three months of their contract can help companies stem churn and increase retention by 30 percent.
To see more of the conclusions from this report and to learn the three key strategies for better customer retention read the full article at ChiefMarketer.com
- 05 Jun
8 Ways to Cross-Sell/Upsell Customers with Search & Social Ads
Did you know that 32% of customers order again from the same company. And they tend to do that within their first year of becoming a customer?
The best – and cheapest – opportunities are the ones you already have
Running efficient advertising campaigns to re-convert past customers can a gold mine. Now, while it might seem counter-intuitive to re-invest in the same individuals, running paid campaigns for cross-sell/upsell has high value. But, experience shows that it can increase each customer’s lifetime value. Plus, it can boost the over all average order value of that customer. And that means increasing your revenue within your existing customer base.
So, to see how you can do this through search and social ads, read the full article at WordStream.com
- 16 May
App Benchmarks Show Improving Engagement, Power of Push
ffrom Marketing Charts
Recently, Localytics released a study covering the usage of 37,000 mobile and web apps from May 2017 through February 2018. What they uncovered is quite revealing. And, in fact, good news for mobile app developers.
Good News Is . . .
It seems that there are indications that app loyalty has remained relatively steady over the past couple of years. But has risen over the longer-term. This is best characterized but the fact that close to 4 in 10 app users (38%) launch an app at least 11 times. This is considered the benchmark of app retention, according to this study.
Whoa! Even More Good News?
Additionally, there’s been more positive movement in abandonment rates than in retention rates over the past couple of years. In this latest analysis 21% of users abandoned an app after just a single use, down from a range of 23-25% from 2015 through 2017. And to see more of the data and for access to the original report, read the full article at MarketingCharts.com
- 27 Apr
Seven Tips for Using Email to Build Customer Loyalty
by Yoav Vilner
Many brands put much of their marketing efforts into obtaining new customers. And understandably so. But acquisition isn’t enough. Customers who make a one-time purchase won’t necessarily come back for more. And, if you want customers to return, you have to make your brand memorable by giving them the experience they feel they deserve. Taking the extra steps to make your customers happy is the secret to making them loyal.
A Happy Customer is a Loyal Customer and Money in the Bank
You can build customer loyalty in various ways, but email marketing is one of the most effective. That may sound surprising and counterintuitive to those of us who don’t like spammy marketing emails. Yet, email is the No. 1 activity on mobile phones, and strategic email marketing—done effectively—is one of the best ways to retain a loyal customer base.
Here are seven tips to make sure your email program encourages retention and loyalty at MarketingProfs.com
- 21 Apr
A Bird in the Hand can be Your Golden Goose
It’s only natural. When it comes to sales and hitting your sales goals you focus on the people who have already demonstrated that they’re willing to give you money. But, it turns out they’re the most likely ones to give you even more.
Consider these facts from both a Forrester Research study and a Harvard Business Review research project:
- Acquiring a new customer can cost five times more than satisfying and retaining current customers
- A 2 percent increase in customer retention has the same effect as cutting costs by 10 percent
- A 5 percent reduction in client defection can increase profits by 25-125 percent (industry specific but seriously – 25% is the low end!)
- On average, loyal customers are worth up to 10 times as much as their initial purchase
- The cost of bringing a new customer to the same level of profitability as a lost one is up to 16 times more
- 08 Mar
How to Boost Customer Retention With Web Push Notifications
by Megha Rajeev
Currently, only 8.5% of decision-makers in marketing consider customer retention as their top priority. Yet, returning customers not only bring in twice as much revenue as new customers but are also more likely to recommend you to others.
They Cost Less and Yield Higher
They also spend more time on your website and give a higher conversion rate. It is old news that marketers who work on retention marketing see an ROI of up to 15x. This is compared to the 4 to 6x ROI for new customer acquisition campaigns.
So how do you up your retention game without investing too many resources in setting up a new channel? This is where Web Push Notifications come in. And to learn how you can make them work for you, read the full article on Jeffbullas’s Blog.
- 09 Feb
New Performance Benchmarks for 10 Popular Email Campaign Types
Triggered email messages have repeatedly been shown to garner response rates higher than non-behavioral emails. But that doesn’t mean that you should expect all your Welcome campaigns to be read. Or to even reach the inbox, for that matter.
Here is a “Trigger Warning”
A new study from Return Path [download page] finds that it’s a different type of message that’s most likely to be read. It seems that it is post-purchase campaigns that lead in many of the metrics tracked by Return Path for its study. But, surprisingly, it is the post-purchase, follow up emails that even exceed the “Welcome” emails.
To arrive at its conclusions, Return Path analyzed more than 600,000 commercial email messages sent. It includede more than 1 million Microsoft, Google, Yahoo and AOL users. And, more than 3,000 commercial senders, between July 22 and November 29, 2017. To see the data, insights and to download the original report, read the full article at MarketingCharts.com
- 06 Jan
7 Ways to Unleash the Power of Gamification in Your Marketing
- Jan 06, 2018
- Dan Hoff
- Conversion Strategies, Digital Marketing, Lead Generation, Loyalty Marketing, Marketing Strategies
Games have been a part of human life since the beginning of recorded time. They have been used as tools for entertainment, relationship building, and even training. So, what we’ve learned from all this history is that there is strength and versatility in games. Especially as a tool for business. And this strength has forged the development of gamification as a modern marketing strategy as well.
It All Started As Nothing More Than Hype
Originally, gamification was considered to be all ‘hype’. However, today, gamification has developed into a 1.65 billion industry. And now it is estimated to reach 11.1 billion by 2020. And it seems that gamified strategies are now expected to become key practices for businesses of all shapes and sizes.
Need to know to make the most of gamification’s potential and add a fun twist to your marketing strategy? Then read the full article at Jeffbullas’s Blog to learn how.
- 05 Aug
5 Lessons Millennials Taught Marketers
- Aug 05, 2017
- Dan Hoff
- Generational Marketing, Loyalty Marketing, Marketing Strategies, Marketing to Millennials
by Patty Odell
It’s no wonder that Millennials are getting so much attention from marketers. But there are plenty of challenges for marketers seeking a share of their purchase power.
No Homogony in this Homogenous Group
Millennials are one of the most diverse generations ever. And they comprise everything from single mothers to middle class professionals to growing families. Millennials range in age from 18 to 34 and appear in every social class. And for even more complexity of this demographic, they have lifestyle interest that range from hip-hop to shopping for the healthiest baby foods.
And with all of this diversity, there is no single answer when marketing to Millennials, however. To see how this has impacted the market and the take-aways, here are 5 hot lessons Millennials taught marketers that they are putting to work in their own campaigns at ChiefMarketer.com
- 17 Mar
Most Purchases Are Made While Shopping Around, Not From Loyalty
Do consumers tend to make the same brand choices time after time. Or do mostly shop around with successive purchases? Recent research from McKinsey comes to a troubling conclusion. It seems that few purchases are loyalty-driven. And the myriad new ways for consumers to judge brands and comparison shop doesn’t seem poised to change that.
Ooops! Well, We May Need to Re-Think Our Approach Now
To arrive at this conclusion, McKinsey dug into its CDJ database, which it says covers more than 125,000 consumers shopping for more than 350 brands. After analyzing the data, it found that of 30 categories, just 3 were primarily loyalty-driven.
So, what does this mean for your brand? For more of the data and additional insights, read the full article at MarketingCharts.com