A Guide to Improving Customer Retention Through Relationship Marketing

A Guide to Improving Customer Retention Through Relationship Marketing

While attracting new customers is a necessity for any business, it’s even more important to promote loyalty among your existing customer base. It costs 5-25 times more

 to bring in a new customer than it does to retain an existing one, so improving customer retention rates can go a long way in helping your bottom line.

Relationship marketing is all about creating and maintaining engagement with clients over time through email marketing or other strategies that increases their chances of returning to your business in the future. Loyal customers are especially important, as they are great sources for referrals and feedback and are also likely to make repeat purchases.

Fostering these relationships takes a different approach compared to that used for getting new leads. Below are some ideas to keep in mind as you craft a successful relationship marketing strategy.

Prioritize Customer Service in Your Relationship Marketing Strategy

Customer service should be a focus in all aspects of your business model, as it shows that you care about the client’s needs. A proactive, personal approach to customer service goes a long way in terms of customer retention, and consumers will appreciate the personal touch.

This approach to relationship marketing can often be difficult to implement, so first consider the typical customer service issues your business faces. Once you’ve compiled a list, create a protocol to address these main concerns, whether through email marketing or another outlet.

Promote Engagement Through Content Marketing

While traditional forms of advertising can still be worthwhile, content marketing provides a different kind of value to both you and the customer. Compared to paid searches, for example, content marketing generates three times as many leads. When focusing on relationship marketing, much of your content should help your audience get more from your services.

Match Your Social Media Approach to Your Audience

A strong social media presence is key to any marketing approach. As many as 95% of online adultsfollow a brand on social media, demonstrating its reach. It’s also important, however, to ensure that your social media campaign is in line with your company’s goals.

B2B businesses should focus on communicating their expertise and professionalism, while others may benefit from an approach based on direct communication and humor. Keep your audience’s desires in mind when creating a social media marketing campaign as part of your relationship marketing strategy. Additionally, include social media buttons within your email marketing content to make it even easier for potential and current customers to engage with you on those outlets.

Keep Email Marketing Top of Mind for Greater Customer Retention

Social media marketing is growing every year, but email still has an important role to play in relationship marketing. Email marketing allows you to reach out to your customers and get their attention in a unique way.

The variety of email marketing tools currently available make doing so easier than ever. Consider sending automated emails at the right frequency for customer retention that’s easier and more efficient. You want customers to receive enough messages to keep your business in their mind, but not so many that they’ll feel the content isn’t valuable.

Implement a Loyalty Program

Determining the best way to promote customer retention and commitment can be a tricky process, but an effective loyalty program can have significant effects on engagement. The most important thing is ensuring that your loyalty rewards provide real value to your customers.

You can use a loyalty program in your relationship marketing strategy to incentivize a variety of behaviors, so it’s important to first think about what your company needs. Depending on your goals for the program, you can reward customers for any number of things.

This can range from making referrals to achieving a certain number of purchases (think punch cards at your favorite café) to something completely unique to your brand. Above all, your loyalty program should match your business’s personality and position in the market.

Use Relationship Marketing to Learn About Your Audience Through Surveys

Surveys are an effective relationship marketing method of learning what your audience wants from you and what you could be doing better. That said, they also require asking for some of your customers’ time, so keep questionnaires short and to the point. Have specific goals in mind as you’re coming up with a set of questions and before sending these out through your email marketing.

You can use data from these surveys to improve your customer retention, service, and business practices. Even better, customers will appreciate that you took their feedback into account.

Relationship marketing is a uniquely difficult aspect of marketing, and one that requires true engagement with your existing customer base. While it may seem daunting at first, it is also among the most important methods of improving your bottom line and increasing overall customer retention. Loyal customers are the best customers, and by showing your audience that you value their loyalty, you create long-term relationships that benefit both parties.

How to Improve Your Email Reputation

How to Improve Your Email Reputation

Email marketing is an effective way to reach customers and grow a following. This is true even when marketing to younger, more tech-savvy customers.

Of course, email marketing only works if your messages are being delivered to inboxes. That’s why it’s important to focus on maintaining a strong email reputation.

Also known as sender reputation, this metric refers to a score internet service providers assign to your business. A low sender score may cause a service provider to divert your emails to the spam folders of recipients within their network. In some cases, the emails might not get delivered at all.

Maintaining a strong email reputation score is key to optimizing your marketing efforts. However, before you learn how to improve your domain reputation, you need to understand what can harm it.

What Results in a Negative Domain Reputation?

There are several factors that can result in a low sender reputation score. If recipients often report your messages as spam, that will definitely impact your reputation. Low open rates will have the same effect.

So, too, will a high bounce rate. A high bounce rate is the result of sending emails to multiple addresses that are no longer valid on a consistent basis.

Sometimes this happens because an organization tried to cut corners by renting or buying an existing email list without checking it. However, it can also occur simply because email addresses “go bad” for a variety of reasons.

For example, if a subscriber to your email list signed up with a work address, that address may no longer be valid if they move on to a different company. Any emails sent to that address will bounce, thereby harming your email reputation.

How to Improve Your Sender Score

Start by performing an email reputation check, also known as an IP reputation check. There are several sites where you can check your IP reputation to determine your score. Many of them score you on a simple 0 – 100 scale. Keep in mind: Staying above 70 is a smart goal to aim for.

Another way to protect your domain reputation score is to focus on providing your subscribers with quality, dynamic emails that offer genuine value. Don’t flood their inbox with constant promotional methods. Monitor your campaigns to find out how often you should send emails, and what types of content you should include. It’s also very important to make sure you’re only emailing people who consciously opted in to your list.

Finally, use an email verification tool to check your subscriber list before sending any messages. This kind of tool will help you remove invalid addresses from your list, which helps to preserve your IP reputation.

Again, email can still be an extremely powerful means of marketing your business. You just need to make sure you’re constantly focusing on how to improve your sender reputation. Prioritizing this factor through email reputation checks and the right tools ensures your emails actually reach the people you’re sending them to.