Digital marketing teams now have all the tools at their disposal to target new and existing customers with pinpoint accuracy. The end result are customers that return, customers that become brand evangelists and customers who consistently view big data marketing adopters as long-term partners.
Most loyal customers aren't aware of the behind-the-scenes role that big data marketing plays. Better yet, most don't care - but you should. Big data marketing is a tool to maximize returns both now and in the future. In fact, companies are leveraging their customer's data right now in order to position themselves as their customers' only option. Here are four ways to use marketing data for better customer retention in 2017.
Big Data Marketing and Reward Programs
Think of all the customer data you can use to come up with your own reward program. You know what customers buy, when they buy and why they buy. Better yet, you're able to segregate your data into different customer segments, market channels, buyer personas and then cross-reference that data into different seasonality patterns. Start off the New Year right by using the data at your disposal. Structure a reward plan that builds brand loyalty, increases customer retention and drives your growth in 2017.
Email Lead Generation Strategies
Don't use your email campaigns to carpet bomb your market, and don't just view it as a one-time lead generation system. It's a never-ending source of leads and a continuous opportunity generator. Email campaigns should be used with new prospects in addition to new and existing customers.
Your marketing data will allow you to present one type of campaign to new prospects, while presenting multiple campaigns to different customer segments and buyer personas. Regardless of whether your email campaigns are used to educate existing customers on best practices, or used as a means to generate new leads and uncover opportunities, big data marketing will help make those campaigns become more successful and more applicable to your target audience.
Proactive Customer Account Management
On-time delivery is one thing, but knowing when to deliver that order, or when your customer needs that order, long before they actually place the order, is something else entirely. Your marketing data should empower your sales and business development teams to be more proactive by anticipating customer demand. Big data marketing makes this a reality, but only if you know how to capture that data, manage it and use it. Being proactive leaves your customer believing you're looking out for them and that you're all in this together.
Customized Pricing Strategies
For years companies relied upon a customer-facing strategy for sales and continually tried to stay one-step ahead of competitors by appealing to the lowest common denominator. Yes, a company's pricing strategy was less scientific back then and more about beating the lowest bidder. Times have changed.
Nowadays, companies are able to match their pricing strategies to real-time market demand. The marketing data at your disposal allows you to drive sales by taking advantage of sudden increases or decreases in that demand. When you're able to call upon your customer and offer them a discount, without them having to ask you, then you're that much closer to building trust and it's trust that increases customer retention.
What was once one part luck and one part dogged persistence, is now a science. Customer retention and big data marketing are a match made in heaven. It empowers sales and marketing to work alongside one another so that both are always closing new opportunities and motivating customers to return.
ReachForce helps marketers increase revenue contribution by solving some of their toughest data management problems. We understand the challenges of results-driven marketers and provide solutions to make initiatives like marketing automation, personalization and predictive marketing better. Whether you have an acute pain to solve today or prefer to grow your capabilities over time, ReachForce can unify, clean and enrich prospect and customer lifecycle data in your business, and do it at your own pace.