Customer lifetime value and post-purchase marketing automation have become trending topics in the marketing industry. Surprisingly, the reasoning behind this popularity is simple revenue companies get from returning customers.
According to the Pareto principle, 20% of your customers bring you 80% of revenue; therefore, in order to increase your profit, you need to increase the spending for that 20% of your customers.
Not only it is important to increase the revenue from your company, but a vital part of a customer's lifetime value is also the loyalty you are given by your customers.
Moreover, According to a study by Harvard Business Review, increasing customer retention rates by just 5% can increase profits by 25% to 95%.
So how do you build customer loyalty post-purchase and increase returning customers?
Here are some ways and sources you can use to achieve this:
1. Marketing Automation
Marketing automation allows you to capture specific points of the customer buying journey and create different sequences based on it. One of the primary benefits of marketing automation is that it allows businesses to create targeted and personalized campaigns that speak directly to the customer's needs and interests.
For example, if a customer has shown interest in a particular product or service, businesses can use marketing automation to send them personalized recommendations and promotions related to that product or service. By providing customers with relevant and valuable content, businesses can build trust and establish themselves as reliable sources of information.
Not only marketing automation creates a personalized workflow, it also helps companies to understand the buying journey.
2. Create a sense of community
Creating a sense of community around a brand can be a powerful way to improve customer loyalty. By providing customers with opportunities to connect with like-minded individuals who share their interests and values, businesses can foster a sense of belonging and camaraderie that can increase loyalty.
Social media is a usual way to strengthen a sense of community; however, email marketing works here as well. With a given consent, you can share clients’ success stories that are connected to using your product or service.
Most B2B companies showcase case studies and reports of their clients internally, which allows them to build trust in the process and guaranteed results.
3. Post-Purchase Communication
Don’t forget to follow up with a customer once the purchase is made. By providing customers with assistance and support after they have made a purchase, businesses can create a sense of trust and dependability that can lead to increased loyalty.
Post-purchase support can take many forms, from providing installation assistance to offering troubleshooting advice.
4. Email Marketing
Along with marketing automation, email marketing can be a powerful tool if you collect enough data about your customers.
Two default emails should be birthday post-purchase emails:
- Birthday Emails: By automating birthday emails, businesses can send customers personalized birthday greetings and special offers.
By recognizing the customer's special day and providing them with a unique offer, businesses can show their appreciation and build customer loyalty.
- Post-Purchase Emails: After a customer makes a purchase, businesses can use marketing automation to send them post-purchase emails.
These emails can include information about the product or service, tips for using it, and recommendations for related products or services.
By providing customers with valuable information and recommendations, businesses can build trust and establish themselves as reliable source of information.
However, by tagging customers in your CRM system, you can do much more with email marketing.
For example, you run a pre-construction sales company. You have noted in your CRM system that there are customers who have been investing in condos in a specific area.
Sending an email campaign about similar listings and a free assignment option would be free for you; however, it will build a connection between investors and your company.
They will know that the email is personalized and tailored based on their needs and will be more likely to your company rather than your competitors.
5. Offer loyalty programs
Loyalty programs are a great way to incentivize customers to return and make repeat purchases. By offering rewards, discounts, and exclusive perks to loyal customers, businesses can create a sense of exclusivity and community around their brand.
Loyalty programs can be as simple as a points system or as complex as a tiered system with different levels of benefits.
Keep Your Customers Coming Back
Building customer loyalty post-purchase is a critical aspect of any business that wants to achieve long-term success. In today's highly competitive market, simply making a sale is not enough. To thrive, businesses must focus on nurturing lasting relationships with their customers.
By engaging with customers after they make a purchase, businesses can build trust, demonstrate their value, and ultimately create advocates who will spread the word about their brand.
With the right strategies in place, such as personalized follow-up, exceptional customer service, and ongoing communication, businesses can turn one-time shoppers into loyal customers who will return again and again. By prioritizing customer loyalty, businesses can set themselves up for sustained growth and success.
Your marketing investment into post-purchase initiatives will have a profitable return. All listed options are affordable and easy to set up; however, they will increase trust and, therefore, customer lifetime value.
By identifying the 20% of customers who bring in 80% of revenue, you can create targeted marketing campaigns, improve customer retention efforts, and provide personalized experiences that cater to your most valuable customers.
Ready to build lasting customer loyalty and take your business to new heights? Partner with TechWyse Internet Marketing. Our expert team can help you develop and implement effective strategies for engaging with customers and nurturing lasting relationships.
With personalized follow-up, exceptional customer service, and ongoing communication, we can turn one-time shoppers into loyal customers who keep coming back. Contact us today at 866-208-3095 or reach out online.
