The saying that “the customer is king” has been there for a very long time but the very funny thing is that a lot of people take this for granted and refuse to put it to work. For brands that have actually worked and perfected on this line of thought, they are constantly smiling to the bank.
It’s not magical that brands have customers literally gulping their products as soon as they leave the production line. It’s based on hard work, dedication, and trust that has been built over a long period of time. Such brands have always placed emphasis on two types of customers. They categorized them into those who know what they want and those who want to try your product first.
Based on this categorization, they work out a blueprint of how to handle issues emanating from any of the sections. They make sure they don’t cause snafus especially as related to subpar customer experience. Here are 5 ways they go about this.
- Customer acquisition is not science
Brands are fully aware that the acquisition of customers is not an exact science, they believe that things could go wrong at any time. Notwithstanding, they essentially put in place a thoughtful planning. They ensure that the product gets to the customer, fortunately for these brands, most of their customers can be reached online but they refuse to stop at that. They make concerted efforts to reach them offline as well.
They don’t joke with the traditional 10 percent discount to attract new customers, some even raise the bar to 20 percent. According to Marketwired, there is a 54 percent chance that a customer who has been entrapped by this offer would likely return for a third and more purchases especially when the product is qualitative.
Some brands even go a step farther to actually give up to $10 credit to new customers to purchase whatever they wish rather than the discount. They are aware that success in sales means converting prospects into satisfied customers thereby converting them into a veritable source of future business and overwhelming referrals.
- Locating Target Customers
One other thing that brands don’t joke with is figuring out where their target customers are. This helps them greatly to improve the chances of customer acquisition. The need to be where your target customers are at all times is absolutely important.
To ensure a comprehensive reach out, they endeavor to target both the online and offline customers. Once they’ve figured out the places and locations that these customers tend to frequent, they go ahead to develop marketing strategies according to this information.
If for instance, they have found out that target customers frequent social media websites, they go ahead to create a social media platform for the brand so that they can establish and maintain constant contact with these target customers. Quite often they locate their target customers through startup communities and even meetup groups. Target users, especially those in search of a solution to their problems, tend to frequent such groups.
They don’t stop at just locating target customers, they move one step ahead in promoting the products and services the brands offer, work on sincerely engaging with these users, and creating value. This usually results in great word-of-mouth referrals, which will be sure to boost customer acquisition.
- Improved customer service
Support systems are employed to effectively communicate with customers and provide them with the right level of support. A support system helps both pre- and post-sale by enabling the brand to clearly communicate with the customer. Brands that have a live chat or ensure that a help desk tool is available to have successfully turned a customer question into a sale or a customer complaint into a resolution.
At a very phenomenal rate, brands have discovered to the fortune of the corporation that an effectively resolved complaint or problem can turn an unhappy customer into a loyal, repeat customer. This is working assiduously on customer experience (CX).
CX is a perception of how the company treats them, which affects their behaviors and build memories and feelings and may drive their loyalty. An improved CX will ensure 42 percent customer retention, 33 percent customer satisfaction, and a 32 percent increase in cross-selling and up-selling.
For example, in a world where everything is instant and done mechanically as a result of IOT, sometimes people just want a change of pace. Something as ordinary as a handwritten thank-you note is a thoughtful way to show customers you care and can encourage them to come back and purchase from you again.
What a lot of people don’t know is that any time something is handwritten, it leaves an almost unforgettable impact on your customer. The fact that you’ve taken the time to address them personally shows a great degree of care and leaves a lasting impression.
This attention to detail has helped brands stand out from the deluge of automated receipts and one-size-fits-all order confirmation emails. These considerations go a long way and have potentially created loyal customers for the life of the brand.
- Sales team
Due to the high competition in the global market, successful brands capitalize on any competitive advantage they have. Emphasis is not only laid on coaching and personalized training but even more on the fact that building better sales teams begins with the hiring process.
Milton Pedraza, CEO of Luxury Institute was reported to have said, “Each time a potential customer walks out the door without buying, companies lose not only the immediate sale but also a vast amount of future sales that shopper would have provided, so even small improvements in conversion and retention rates today yield substantial dividends down the road.”
Bearing this in mind, brands ensure that high-level executives are involved in the hiring process as much as possible. Inasmuch as the modern customer is well grounded in product knowledge and availability, it becomes absolutely necessary to use a combination of metrics and client relationship building techniques to maintain the higher levels of sales conversion and repeat sales.
Brand ambassadors with individual personalities that result in effectively boosting client retention by developing one-on-one relationships with customers are co-opted. They can easily identify walk-ins, convertible customers, and other opportunities. Brands don’t just stop at hiring great salespeople they do everything to ensure their retention.
- Subscription-based business model
Nothing can be more heartwarming for a brand than to be assured that the products being churned out from the mills are virtually already sold and nothing can as well be more alluring to a consumer than to have more, for less. This beautiful scenario is what the subscription-based business model proffers.
A research by Credit Angels has it that in 2012, downloads made up 70 percent of global music revenues with streaming only at 18 percent. In comparison, by the end of 2017, however, downloads slumped to 23 percent and streaming took a quantum leap to 73 percent.
Forbes also reports that the subscription e-commerce market has grown by more than 100 percent a year the past five years, with the largest retailers generating more than $2.6 billion sales in 2016, up from $57.0 million in 2011.
Do you still want to ask how brands achieve the feat of getting you glued to their products?
Subscription models lock in customers for a period of time depending on the plan, promising a recurring stream of revenue rather than the charge by service or product customers who can switch to other providers without any form of notice and often to the heartache of the provider.
There is virtually no entrepreneur or business owner who does not feel the stress of the constant brainstorming associated with production, the competitive nature of the global market, and will, therefore, do anything for an assurance that the products or services will be an absolute sell-out.
As a fledgling brand that wants to get customers to swallow your product hook, line, and sinker, all you need do is leverage these 5 ways to score high.
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