The customer experience is increasingly important in today's world. It isn’t easy to find happy, loyal customers. You’re more likely to come across irate customers on social media platforms who vent about their experiences with brands. A brand that wants to increase its credibility, following, and retained customer base, must invest in thorough research and analytics of what consumers want.
Research says that about 81% of consumers want brands to know them better. Successful businesses actively attempt to understand consumer behavior. This analytic process helps companies find ways to keep their audiences consistently engaged. Businesses that send patrons personalized offers and messages are more likely to get elevated ROIs. Today’s informed clientele engages with brands that care.
This blog highlights a few actions you can take to better understand and engage with customers who may be at risk of abandoning your brand. You will also learn how Microsoft Dynamics 365 Customer Insights can enable companies to encourage customer loyalty.
The Link Between Personalization And Customer Loyalty
Acquiring a new customer is more expensive than retaining existing ones. Brands would be better off investing in strategies to help them maintain their current customers. Your marketing efforts become more effective when you personalize them. One of the best ways to make your customers stay engaged is through customer loyalty programs.
Sephora rewards customers on annual purchase amounts. Nike offers customers early bird offers, styling advice, exclusive products, free shipping, and 30-day returns on their free Nike App. The trick to creating these successful programs is personalization.
Understanding Churn
Your marketing efforts will be more successful if you know which customers are likely to churn. Churn rates reflect the percentage of a company's total customers who abandon the brand (churn) and subscribers who unsubscribe.
Design retention campaigns to increase loyalty to higher-value customers and use in-depth data to discover which customers might abandon your brand. Analytics help you predict if and when your customers will stop using your service.
Dynamics 365 Customer Insights enables companies to anticipate customer behavior using predictive analytics with machine learning and artificial intelligence. Dynamics 365 Customer Insights offers out-of-the-box models and data solutions. Start with pre-defined models to start using predictive data.
Targeted Emails
An email marketing campaign is a simple yet popular method of reaching many customers at once. But since consumers receive hundreds of electronic mails every day from many advertisers, make sure you stand out. Show your customers what they want so that you do not waste their time and instead provide solutions.
To effectively target your audience, segment your customer database based on demographic criteria and send relevant emails to these segments. A clothing company may decide to send emails based on age and gender preferences to promote a particular clothing style.
Create Unique Experiences
Churn often occurs when customers are dissatisfied with their brand-based experiences. The opposite is also true. 80 percent of consumers demand personalized customer experiences. Positive customer experiences can help brands increase sales conversion rates.
Although personalized marketing isn't anything new, traditional methods of generic segmentation won't work anymore. Using artificial intelligence (AI) to deliver the right message, at the right time, through the right channel makes customers feel valued. This hyper-personalization leverages your customer data.
Product Recommendations
You can extract data from consumer behavior and interactions with the brand. This tactic determines what products, services, and offers to engage consumers the most.
Brands can tailor their recommendations to consumers' behaviors and preferences, motivating them to purchase by understanding their behavior. You may notice advertisements recommending animated Disney films if you recently watched family-friendly animations.
FOMO Messages
Many e-commerce websites use fear of missing out (FOMO) messages as marketing. They show consumers which products are in short supply, the number of consumers looking at them, and recent purchases. Brands motivate consumers to make purchases by sending out personalized FOMO messages.
FOMO is effective in an age where people are luxury-focused. TikTok, IG, and Facebook show the significant pressure influencers can apply on their audiences by endorsing specific products. It is these products that will benefit the most from FOMO.
When customers get what they want, they become loyal, raving fans. They also act as brand ambassadors when they speak up for you in social media posts and shares.
Contact us at Definity First to find out how to drive customer loyalty. We’ll help you stay connected with your customers 24/7 with the help of Microsoft 365. Get real-time data about your customers and leverage it for success.
