Emerging Loyalty Trends for Business

Posted by on Mar 30, 2011 in CRM |

Customer satisfaction is not always a differentiator, it’s a lagging indicator. Customers expect to be delighted and cosseted these days. So instead of focusing on satisfying customers, companies need to look at new ways to build true loyalty and advocacy. Recently I picked up on an interesting article by Mark Johnson CEO of Loyalty 360 who highlighted seven trends he sees in customer loyalty. Most of these trends take the idea of loyalty beyond just a tactical points program or campaign, and look to drive loyalty across the organisation using the common elements of a customer-centric approach. Using deep analysis of data A prolonged shift from acquisition to engagement, customer experience, CRM, retention, and ultimately loyalty Operations play a larger role in loyalty strategy. They are responsible for getting things done, after marketers design programs. New models make data actionable and sustainable. It’s not a one-and-done approach Enterprise loyalty, which encompass the total touch points with which you interact with a customer. If you make a mistake in any touch point, it can threaten overall loyalty which is why Social Media programs are becoming increasingly important Customers want genuine experiences, not slick advertising or empty promises Loyalty must be a priority of the entire C-suite, not just the CMO The biggest challenges, Johnson added, come from understanding who your best customers are, differentiating service based on needs and value, and building loyal customers into brand advocates. It’s much easier said than done, but it can be achieved. Looking at these comments it brings me back to the basics of using customer data and history to understand your customers purchase history by segmenting them by Recency, Frequency and Monitory value to the organisation as this quickly illustrates where you should be focusing your efforts in up selling, rewarding and even incentivised attrition if you have a segment that is actually costing you money. How prepared are you to make the most of these trends? Are your loyalty efforts aligned to this new customer reality and are you taking into account the rapid advances in Social...

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Understanding Niche Internet Marketing

Posted by on Mar 11, 2010 in Articles |

By studying your industry, target markets and the ‘persona’s’ that your product will appeal to closely and making an honest effort to research your potential market, Internet Marketing will prove to be a very profitable investment providing excellent ROI and a worthwhile investment for 2010. Through making an effort to learn everything you can, you can excel in online marketing as long as you understand the industry’s key elements. These key elements include learning the current trends in the market place, selecting a niche carefully for your product or service and then organizing an effective measurable marketing campaign. Select a Niche Carefully An important component of a smart Internet niche marketing campaign is to select your niche carefully. A niche is a specific subdivision of a broader category and generally owners of a niche website are knowledgeable and even experts about a particular topic and can create quality content that is highly informative and accurate. Talk to your selected ‘persona’s’ The second factor is to look for your potential audience and talk to the influencer or decision maker and offer something unique or that addresses their needs exactly. An exceptional niche website can enter a crowded market and excel but it does take more effort because customers tend to be loyal; swaying them is always more difficult than winning the loyalty of new customers. Organize an Effective Internet Marketing Campaign Once you have selected a niche and understand who the interested parties are most likely to be, it is time to orchestrate an effective Internet marketing campaign. This campaign may include commercially available prospects, your own researched database, email campaigns, Pay Per Click or above the line media or any combination of these components. It’s important to develop keywords relevant to the niche and optimize your websites and particularly a specific landing page for these keyword, driving potential new customers to an action i.e. register to receive more information or for someone to contact them or to place an on-line order. Even though optimizing your websites for particular keywords is important to achieve high search engine rankings, it is also crucial to consider your target audience or ‘persona’ when you design your website. While high search engine rankings will increase traffic flow to your website, a clever design is also important to meet the needs and expectations of your target audience. High search engine rankings will bring in traffic but it is equally important to capture your visitors’ attention. Stay Up-to-Date on Current Market Issues and Trends Remember that the market keeps evolving and it is important to stay with new trends – you don’t ever want to be left behind. One way to stay current with the latest...

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