Customer Retention is more important than Customer Acquisition

Customer Retention is more important than Customer Acquisition

Retaining your customers is a key aspect of your business. Without a doubt, converting leads to customers is a hard process – but your efforts can pay off if you focus on the ultimate goal – retention.

When we think about marketing, our minds often jump to lead generation tactics that attract new customers. But marketing isn’t only about bringing in new business.

If you want to build a thriving business, you need to take care of your biggest assets – Customers.

Sadly, most businesses are obsessed with lead generation – but careless when it comes to customer retention. How sad?

Considering that loyal customers will always come back for your products and services, obviously, they’re your best business asset.

Customer retention might be even more important than customer acquisition. acquisition creates a foundation of customers while your retention strategy is how you build customer relationships and maximize revenue for each one.

Let’s look at why this might be true.

What is Retention Marketing?

It focuses on bringing back customers who have already done business with a brand and keeping customers who are already connected to a brand.

The goals of retention marketing aren’t to increase the number of customers but rather to:

  • Increase customer return rates and bring past customers back into the buying cycle.
  • Decrease customer churn rates and keep existing customers in the buying cycle.
  • Drive purchase frequency and get customers to enter the buying cycle more often.

Why customer Retention is smart marketing strategy?

For new and growing brands, it makes sense to focus most of their marketing plans on customer acquisition. But once a brand has a solid customer base, they need to shift their strategy and put more attention into customer retention.

  • Increasing customer retention rates by 5% can increase profits by 25% to 95%
  • Brands have a 60% to 70% chance of selling to an existing customer versus only 5% to 20% enhances of selling to a new customer.
  • It can cost up to 5x more to acquire a new customer than to keep an existing one.
  • People who have already bought from your brand are more likely to return and spend three times more per visit.
  • When you have happy brand fans, they turn into brand advocates.

But how do you get started?

The following are some ways that you can retain past and current buyers through customer retention strategies and marketing tactics.

1.Advocacy

If you’re passionate about helping people live healthier lives, then set up an advocacy program. Your customers feel good when they can contribute to a good cause, and that bit of sunshine rubs off on your brand. 

2. Daily Deals and coupons

This strategy gives customers an incentive to shop with you again, instead of with a competitor, as they know they’ll find something at a bargain price. It creates urgency, which fuels impulse purchases, because they know the deal is temporary.

3. Exclusivity

Create an exclusive “club” or membership to make your repeat customers feel like they have access to something others don’t.

4. Loyalty Programs

Think of that punch card from your favorite coffee shop in your wallet. This helps keep the shop top of mind, giving you a nudge to visit and collect another star. There’s a rush when you get the perk, too, creating a happy customer experience all around.

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5. Email marketing

Despite the deluge of emails people face every day, they still love to hear from their favorite brands. If you use content marketing, email newsletters are an excellent channel for letting customers know you’ve published new material in your blog. And consider emailing discounts to your customers. 

6. Referral Bonuses

You see referral bonuses in both B2C and B2B customer loyalty programs. If you’ve used a grocery delivery service, for example, you might get offered $10 to refer a friend — and the friend saves money, too! Likewise, businesses can offer bonuses to customers who recommend their products or services to colleagues.

7. Personalization

Top retailers enlist personalization to provide a great shopping experience. Personalization can also be effective in B2B customer retention strategies. One example: emails that use the recipient’s name.

8. Retargeting

This digital marketing tactic brings the shopper back to complete the transaction when they might have otherwise forgotten about it. And there is no doubt that it works. 

9. Exceptional service

Exceptional service also has the power to bring customers back.  So, from the very first purchase, extend the best customer service experience you can. There are plenty of ways to do this, from personalized confirmation emails to remembering the customer’s name when they return to your shop.

Acquisition marketing is what pulls audiences into your purchase funnel and drives them to become new customers and buyers. This is an important part of marketing, but it’s just the beginning.

You also need to use retention marketing to keep customers in the buyer’s cycle and encourage them to return again and again. Focusing on the full customer lifecycle is how your brand will increase revenue while expending fewer resources, money, and time.

With well designed client retention strategies, you can understand your customer needs and improve loyalty. You have to deliver extraordinary customer service and develop interpersonal courtesy to treat customers positively.

Make your customers feel they are part of your business by taking their opinions. Implement their suggestions and acknowledge them to achieve the customer success they deserve.

What customer retention strategies do you think work best for your business? Please share it in the comment box!

The Key Marketing Metrics, that you should always keep track

The Key Marketing Metrics, that you should always keep track

As a Marketer, It can be difficult to determine what are the key marketing metrics you should be tracking for your business in the Digital Platform. Should it be Page-views? Click-through rate? Time on-site? Or something else.

Well, in this post, I’m talking about some of the key metrics, that you should consider while tracking your marketing activities.

1. Bounce Rate:

Your bounce rate is an important marketing metric because it tells you the percentage of visitors that viewed one page on your website then left (“bounced”) without taking any further action.

Bounce Rate is important for three main reasons:

  • Someone that bounces from your site (obviously) didn’t convert. So when you stop a visitor from bouncing, you can also increase your conversion rate.
  • Bounce Rate may be used as Google Ranking Factor, it is closely correlated to first page Google rankings.
  • A high Bounce Rate lets you know that your site (or specific pages on your site) has issues with content, user experience, page layout

The height of your bounce rate and whether that’s a good or a bad thing really depends on the purpose of the page. If the purpose of the page is purely to inform, then a high bounce rate isn’t a bad thing.

If the purpose of a page is to actively engage with your site, then a high bounce rate is a bad thing.

This marketing metric can also reveal gaps in your website’s marketing funnel since visitors are not being directed deep enough to convert. This can impact other metrics like your conversion rate also.

If your website isn’t optimized properly for both technical and on-page SEO, you may be losing visitors due to long page-loading times, bad landing page, broken images, 404 errors, or published title tags and meta descriptions that don’t describe the page content accurately.

2. Conversion Rate:

Conversion rate is the percentage at which you turn visitors into buyers and paying customers.

Depending on your business goals, a “conversion” could be almost anything,.

But here are a few common types of conversions:

  • Making a purchase
  • Submitting a form (contact us form, lead gen form, etc)
  • Calling your business
  • Engaging with your online chat
  • Signing up for a subscription (either paid or free—like a newsletter)
  • Registering on the site
  • Downloading something (software trial, eBook, mobile app, etc)
  • Using something (new/advanced feature on your software or app, simply using your software/app for a certain amount of time)
  • Upgrading their service
  • Engaging with your site in some way (time on site, repeat visits, number of pages visited)

The easiest way to convert visitors is through content. And all content should prompt users in some way to become a buyer. To direct the visitor toward a conversion, all content needs to include a direct path to the conversion with clear Call To Actions (CTAs).

Calculating conversion is actually fairly easy. All you have to do is divide the number of conversions you get in a given time frame by the total number of people who visited your site or landing page and multiply it by 100%.

Conversion rate = (conversions / total visitors) * 100%

Here are a few different types of conversion rate you can use and ways you can use this data to examine performance:

  • Overall conversion rate : How well does your website convert traffic from any source?
  • Marketing channel conversion rate : Is Google Ads traffic or Facebook Ads traffic more likely to convert?
  • Page-level conversion rate : Which of these pages is better at converting traffic?
  • Campaign conversion rate Did my targeting changes improve anything?
  • Individual ad conversion rate Do I need to change my ad copy? does this ad drive more qualified traffic?
  • Keyword conversion rate : Which keywords deserve more budget?

If you have a high conversion rate on a particular piece of content, it can help guide your decision to create more topics in a similar vein or expand your efforts to promote the piece.

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3. Qualified Leads:

A qualified lead is someone who may be interested in buying a product or service from your company.

These are promising leads who are curious and considering you, but they haven’t quite made the step into a sales conversation yet.

This is also one of the key marketing metrics because those qualified leads are more likely to be receptive to a sales pitch than a normal lead.

If you think about your own buyers’ journey, it would be pretty rare that you submit your real email address unless you’re open to starting a conversation.

A qualified lead is judged to be interested in your products and/or services, and you may offer a solution to whatever it is they need.

Examples of Marketing Qualified Lead actions:

  • Downloading trial software or free e-book
  • Using software demos
  • Filling out online forms
  • Submitting an email address for a newsletter or mailing list
  • Favoriting items or adding items to a wish list
  • Adding items to the shopping cart
  • Repeating site visits or spending a lot of time on your site
  • Clicking on an ad to find your site
  • Contacting you to request more information

These represent some of the most common actions, but this is not meant to be a comprehensive list. 

The best way to figure out what is and isn’t a qualified lead for your business depends on a whole lot of other information like lead scoring, analytics, product delivery, and demographics.

It’s a start, however, to finding sales-ready leads and weeding out those leads who are simply unlikely to ever commit to a sale.

There are different analytics tools, that can help us to attribute qualified leads with the source traffic

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4. Return On Investment (ROI):

ROI is calculated using two primary metrics: the cost to do something, and the outcomes generated as a result.

The standard answer to “how to calculate ROI” is a formula:

(Attributable Sales Growth – Marketing Cost) / Marketing Cost = ROI

ROI is a marketing cost is any incremental cost incurred to execute that campaign (i.e. the variable costs). This includes:

  • Pay-per-click spend
  • Display ad clicks
  • Media spend
  • Content production costs
  • Outside marketing and advertising agency fees

Your ROI tells you how much money you’ve spent on a marketing campaign versus how much revenue it’s brought in.

It is not easy to calculate revenue generated for all marketing activity. Certain tactics like social media, content marketing, video, and display ads for a targeted audience starts long before a purchase takes place.

Just because a marketing activity can’t be measured perfectly, it doesn’t mean it shouldn’t be considered.

Marketers who aren’t serious about tying their activity back to revenue are missing the bigger picture.

This marketing metric ensures that your marketing efforts are profitable in order to contribute to a company’s bottom line.

It also confirms you’re doing the right type of marketing and targeting the right people.

5. Word of Mouth:

Word of Mouth is a key marketing metric that helps your business determine how much exposure your brand is receiving.

The primary goal of looking into your word of mouth is to gain insight into the overall visibility of the brand.

Essentially, is it is free advertising triggered by customer experiences—and usually, something that goes beyond what they expected.

Word-of-mouth marketing can be encouraged through different publicity activities set up by companies, or by having opportunities to encourage consumer-to-consumer and consumer-to-marketer communications.

Understanding the level of exposure your brand has among competitors is an integral piece for building your marketing strategy.

If you’re looking to increase your word of mouth, you have to raise awareness of your business name and the product or services you provide. One way to do this is to create educational blog posts that provide value to your target market.

Well, these are all key marketing metrics, that should always keep track while doing any of your digital marketing activities.

How to create a Best Landing Page Design

How to create a Best Landing Page Design

Do you know? Only the best landing page design will help you to get the highest conversion rate. And this is the goal of any successful landing page to reach your marketing goal or business growth.

So, What is Landing Page?

This is a single web page that appears in response to clicking on SEO results, or various Google and Social Media ads, which are promoted by you. The landing page used for lead those lead conversion will usually display directed sales copy that is a logical extension of the advertisement, search result.

You can use a landing page to capture email lead, sell a product or service, invite people to your webinar, or make an announcement or offer a discount.

Keep these things ready, before Creating with Landing Page design

Define your goal:

What is the main objective of this landing page design? Once your audience visits your landing page, then what you do want them to do? You want them to buy a product or service? You want them to subscribe for a newsletter? Whether you are inviting them to any webinar or meeting? Once you clear upon these things, then it would be easy for you to move to the next step.

Know your ideal customer:

Once you define your goal, then you should work upon understanding your audience, it’s like getting a clear idea about what is their actual requirements, their wants, and needs, taste, and preferences. These things will help you to serve them better.

Channel of Communication:

There are different channel of communication which have its own unique, but before selecting you need to see where your ideal customers spend most of their time. It may be Facebook, Twitter, Instagram, or even Google search engine.

Ideally going with a different tailored landing page design for different platforms is always a better idea than going with a single landing page design. Usually, a business with a more number of landing page designs likely to get more leads. So, when you are looking for more leads, then it is always better to go with more number of landing page design.

Making of Best Landing Page Design Which Gives Highest Conversion Rate

So for we have done with the pre-landing page design process, now let’s look at, how a great landing page design looks like.

A persuasive headline:

The headline is where the journey begins, grab their attention and let them know just how special your offer is.

Once your audience enters your landing page design the average attention span is not that great. You only have a few seconds to convince someone that the page they have just landed on is worth their time.

Make the headline Unique, Interesting, Informative, Short & Sweet.

Subheading followed by High-quality explanation:

Don’t make the landing page design explanation too long either. Remember, your goal here is conversions.  

What’s the one thing you want people to come away from your landing page design knowing? That’s what should be in the sub-head and explanation.

Once you have their attention with the heading, its time to explain to the value you are going to bring to their lives with some high-quality content, that should be direct, concise, and benefit-driven.

Ask only basic details of the customer in the landing page design like name and mail ID and don’t ask for their entire data, remember you are here to make a sale not in search of any groom or bride for your customer. the more fields you ask for the less leads you get. Try to make it so simple that when a user sees it they instantly know what is expected from them. They don’t want to look and wonder what to do.

Make use of video content where appropriate in the landing page design. In video content chances of conversion is always high. And don’t forget to include testimonials, it acts as authentication or proof for the visitors, which always justifies how best your product or service is.

Classy and eye-catchy design:

Keep your landing page simple. It must highlight and enhance your key content and NOT distract from the information. Any unnecessary design element that you have doubt about, leave it out Each element must drive visitors toward conversion so look at your design from a visitor’s perspective.

Ensure the landing page colors align with your brand and style guide. It’s best to practice to choose 3-4 colors that complement each. Most importantly, the colors must align with your landing page design intent and represent and align with your brand.

Your fonts size and family speaks loudly. It can be playful, serious, or plain creepy. Choose wisely and stick to no more than 2-3 fonts per page and Keep it legible. Include your logo on the top of your page so that visitors will be able to identify your brand right away. Assure them that they’re in the right place.

People in general have incredibly broad abilities to perceive visual marks, recognize and proceed data even transformed in images of high level of abstraction. In vast majority of cases people fix and percieve pictorial elements like icons and illustrations faster than words.

Great proportion of users are visually-driven creatures by nature. As it is shown in all the examples provided higher, using attractive and informative graphics in landing pages design enables users to catch the idea and scan the page much faster and saves their time as well as involves their aesthetic perception in the process.

Persuasive Call To Action:

This is the final and biggest opportunity to improve your conversion rate in the landing page design. Ensure your call to action is clear but not over the top. Remember: “You ask someone for a movie before you ask them to marry you”. So “hurry, sign up now” might not always be appropriate.

Choose a colour that stands out from the rest of your page but stays within your website theme and styling. Ensure there is enough contrast between your text and background for readability and accessibility.

Getting clever with words may not get people to do what you want them to do. For example,

Don’t write; Click Here, if you want them to start a free trial for your product instead, Write; Start Free Trial Today, or Get 15-day Trial Now.

With the first CTA, the reader is totally oblivious of what is on the other side of the button. Chances of clicking on the button are low considering that there are a lot of scams on the internet and such a button may yet be another sort of scam. The bottom line is, don’t assume they know what they ought to do, because they don’t. I think that is why it is called a Call To Action, it prompts a reader to take a particular action.

Don’t forget to do A/B testing of your landing page design:

Another important thing you should be doing is A/B testing with your landing page design elements to find the best positions for them. A good conversion copywriter isn’t just writing — you’ve got to be testing, too. How else will you know what kind of writing converts higher or lower for your audience?

There are all kinds of A/B tests you can do on a landing page design — images, placement, flow, layout, etc. Usually, however, the biggest gains come from changes in the copy. If you want to gain higher and higher conversion rates, you’ll need to be testing your copy along with the other elements of your landing pages design.

Which is the best Landing page design tool, available in the market ?

According to Hubspot research, the typical landing page design converts at 5 to 15%, but some landing pages design that are highly optimized convert at 30% or above.

You should keep 3 main things in the while selecting Lading Page Design Tool

1: It should be easy to create with minimum time

2: It should able to achieve an incredible conversion rate

3: It should allow you to systematically improve in the future

By keeping these 3 things in mind, I would strongly suggest LeadPages is one of the Best Landing Page Design tools.

Many of the top bloggers that you probably follow use this landing page software. In this tool you get access to the advanced content builder features like A/B testing and Leadboxes.

The actual landing page editor is very simple and offers a few unique features that makes it stand tall among all other tools.

The first major component is the LeadPages template selection. Not only do they have a huge selection of templates, but you can even sort them by conversion rate. This feature is why LeadPages is among the best landing page design tools out there.

You should also know that most templates are free and even paid templates will typically cost you $10-15.

You have also an analytics section in LeadPages that allows you to split test between different landing pages design and see how they are performing.

In summary, LeadPages is a great selection tool for a landing page design with great landing page template quality, with minimum cost.

Have Your Own Domain Name

Have Your Own Domain Name

When you take your passion seriously, no matter what you think, you just try to make your existence online. To share your ideas, you need a website. To make a website of your choice, you need a good domain name, which gives your business a name. Here I’m sharing some points on why you should have your own domain name.

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Everyone wants a good balance between price and quality. Whether you plan to buy a pen or even a car. When we think of buying cheap domain names, there’re a few market places available who provide all Top-level domains at low costs.

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While you may be looking for the cheapest domain name registrar, sometimes the cheapest isn’t always the best. On the up end side, many trustworthy hosting companies will offer low-cost or even free domain names when you host your website with them.

Just buying domain name is not hard thing, but you need to focus on buying good domain names. In spite of the fact that there isn’t any decide that your area enlistment center and host shouldn’t be the same, however you ought to get the best separately.

In the event that you can locate a decent host somewhere and an extraordinary area enlistment center somewhere else, you should stick your firearms with it. This additionally has a security advantage, as though somebody accesses your facilitating account, your area name will, in any case, be protected.

Well, the “Cheap” word looks completely catchy and it always grabs our attention. Why not? Whenever we try to stick with a new service, price always comes as our principle though. The same thing happens when we choose a domain name or web hosting.

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These days so many web hosting companies are offering the domain names for free if you buy a web hosting plan from then, you can select any domain extension of your choice with web hosting package.

Whether you’re starting a new business or have just launched another product, it’s also important to have a quality website. Maybe you’ll spend maximum time perfecting the About page. You’ll also choose the right images; you’ll think long and hard about the text too.

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But while all of that’s important, there’s only one thing that you absolutely cannot leave out if you want to make your mark on the web and that is choosing the right domain name for your website.

Se before, you should consider these things that work from an SEO point of view:

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Make a Keyword Research: By having a keyword that’s relevant to your industry in your website domain name can help your SEO rank. This exactly means that when the audience uses a search engine to find something related to your business, your keyword-centered domain name is more likely to come up higher on the search results page that results in increasing total traffic to your website.

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Properly think about Extension: Your domain name extension can be just as important as the domain name itself. As the extension is also the part that follows the branded term or keyword.

People also view websites with this extension as trustworthy, as .com is one of the most recognizable TLDs available. However, there are a number of other well-known TLDs, such as:

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.org – It is Usually for organizations that work for non-profits.

.info – for sites that provide information.

.net – That provides More technical sites & networking technologies like infrastructure companies.

So, now it’s time to make first move by registering your own domain and start with some blogging. Click on the below image to register with the best name for your domain.

4 Approaches to Successful Marketing

4 Approaches to Successful Marketing

The process of marketing is that of bringing a product or service to the market, and this work will be more easier if our strategy approach are perfect. These are the 4 approaches to Successful Marketing.

Creating Utility:

The first and beginning approach is by creating utility, usefulness and by satisfying the needs of your customers to achieve a specific result.

This approach requires that you offer customers something they need and can use to accomplish their other goals.

An example of a new telecom industry in India, was built on utility value or needs is Reliance Jio. By analyzing the smartphone user, their requirements Jio created a data and call rates packages with absolutely reasonable price, that never existed before.

Look at your market today. What will your customer and potential customer wants, need and be willing to pay for in the months and years ahead.

If you can answer this question accurately, you can often leapfrog over your competition and dominate a new market even before it emerges.

Pricing Properly:

A second approach to marketing is by changing your pricing. By bringing your goods and services into the price range of your customers, you can open up entirely new markets that do not today exists.

Many companies have been able to achieve market leadership by focusing on bringing their prices into the affordability range of more customers.

What we have found is that the greater your market share, and lower your cost of production, the lower the price that you can charge.

The Japanese use this strategy brilliantly year after year. First of all, they price their products and services as low as possible to gain market share. As they gain market share, they begin to enjoy economies of scale, manufacturing their products at ever lower prices.

Then they pass the savings on to their customers with even lower prices and increase their market share once more. Eventually, they end up dominating many of the markets they have entered.

Reality of your customers:

It is adapting to the customer’s reality, both social and economic.

The customer’s reality up until that time was that if they bought something that didn’t work or didn’t fit, they were stuck with it.

Every product offers a Key benefits, that is primary reason the customer would buy that product. Each product or service in the first place.

It’s like customers are afraid of paying too much, getting the wrong product, losing their money, and getting stuck with something that is inappropriate for their purpose.

Whatever their fear is, it is the main reason that qualified prospects hold back from buying any product or service, at any price.

When you can emphasize the key benefit, the unique added value that a customer will receive by buying your product or service, and at the same time take away his or her major fear, you can open up an enormous market for what you sell.

Delivering True Value:

This fourth is for you to deliver what represents ‘true value’ to your customer. It can only be identified by working closely with your customer.

IBM is the perfect example. The company controlled 80 percent of the world computer market in its heyday, and for good reason.

IBM discovered that in the field of high-tech and high-end equipment that sells for hundreds of thousands or millions of dollars, it was not the functionality of the computer that attracted buyers as much as it was the assurance the computer would be serviced and repaired quickly if something went wrong.

IBM provides not only world-class computer products, but also the security that once you bought from IBM, you were protected with perhaps the best service support in the world if the equipment broke down for any reason. This is ‘true value’

Marketing is one of the primary components of Business Management, it is the business process, which creates satisfied relationships with the customers. We can say Marketing is the study and management of relationships between business and the customers.