UPDATED: August 31, 2020
Conversion from a lead into a customer does NOT require magic or manipulation. There are many misconceptions about what a conversion is and how to measure it. Before we get into the how, let's define conversion.
The traditional definition of conversion is the process of changing or causing something to change from one form to another.
A marketing definition of conversion is getting a potential customer/client to respond to your call-to-action. When marketers talk about conversion, it often relates to views, clicks, likes, and paid transactions.
One example of a marketing / sales conversion is getting someone to open an email, while another may be someone making a purchase.
I thoroughly appreciate Steven Wong's comment about conversion conversations when he writes: "Imagine leaving the corner store with a carton of milk, only to have the store clerk follow you down the street into other shops...
Keeping a good friend is a lot easier than making a new one, right? The same goes for customers / clients. Maintaining your existing customer relationships is less expensive and has a better return on your investment. While it's important to put energy into your "top of funnel" efforts to find new people, I would argue that it's MORE important to work on customer retention strategies.
The biggest challenge for many companies looking at their customer retention is where to begin. Here are 5 practical customer retention strategies you can use to keep your existing customers happy over the long-term and increase your profits.
1. Customize Your Content Strategy
Speak / Write to your existing customers like you know them - because you do! No one wants to feel like another number, so create customized messaging for your customers based on their history with you.
If you know about their purchase history, then send an email...
Honesty. It's a word that so many of us claim to live by and be a reflection of our lives. And yet, business owners sometimes forget the importance of honesty when promoting their brands. While marketing is often tied to the idea of stretching the truth, padding the truth, or "making it sparkle" to sell, that is not Good Marketing. Business owners aren't trying to be dishonest by marketing their brands. The Man Men era of advertising taught many people that it is necessary to "trick" consumers into buying from us - and it's simply not true.
Business Owners and Marketers: You have the power to end this ridiculous way of thinking starting here and now. No one wants to be tricked into buying anything, because they end up feeling deceived and angry later.
Our goal as business owners is to offer a valuable product or service to the people who want and need it. That's it. Authentic marketers understand this idea and we run with it by offering value using...
While I love content marketing, storytelling and expressing business concepts through the written word and images, it’s all useless if you haven’t laid out a lead generation plan for your company. The phrase lead generation can seem overwhelming to non-marketers. I assure you that there is nothing to fear. Here is a quick-start guide to your lead generation plan and understanding a common "marketing funnel" in action.
This is the step you are most likely doing right now. When you publish a blog, publish a post on social media, attend a conference, or speak at an event, you are creating awareness of your company / brand. Make the best use of these tactics. When it comes to website content and social media, allow readers to subscribe to get updates. This can be done with an email newsletter or using an RSS Feed.
A Marketing Audit is a comprehensive, analysis and evaluation of your business' marketing. This includes your goals, strategies, tactics, and the results of your marketing efforts. This is the first step towards creating a powerful marketing strategy - knowing your current situation. Your market audit is a powerful way to get in touch with your brand, products, and services and refocus your marketing efforts.
In this article, you'll learn more about the marketing audit, its components and how it is used.
To begin your marketing audit, evaluate your big-picture plans. What are your current goals or objectives for marketing? What marketing strategies are you employing? What is your marketing mix? Is your marketing team effectively implementing the marketing plan? Are the marketing objectives you set the appropriate ones for your business? If you have never documented the big...
Customer Relationship Management (abbreviated "CRM”) is a term used to describe your customer communications strategy. It also refers to the software most businesses use for implementing that strategy. Before you get excited about another tech tool (or run for the hills), a smart CRM Strategy begins with people and your customer communications.
How do you keep in touch with customers, prospects, vendors, and partners? Is it just as ideas pop up in your head? Do you have a specific system for maintaining those relationships?
For many of us, the answer to that last question is sort of or not really. However, maintaining regular communications with your vital business contacts is essential to the sustainability of your business in the long run.
Do you email them a list of all the documents and wait for a reply?
Do you repeatedly call the client and ask for the documents to be sent by a specific date?
This is a problem I recently faced in a marketing operations improvement project. The reason I describe it as marketing operations is because the client communication channels is key to the company’s reputation, which is their number one way of marketing themselves – strong processes and communications. The company was already a user of Zoho CRM, so making sure that the marketing operations improvements worked with that platform was important.
The Project Requirements:
Building strong relationships with others is a foundation of humanity. We have friends, family, coworkers, and neighbors who we devote time, energy and effort towards. Developing those individual relationships is of high importance. There is a disconnect in business where we sometimes forget that customers are people who we should be building relationships with too. Who are your customers in relation to your business’ brand?
When you open a business and begin serving people, you immediately have a brand – whether you know it or not. A brand is your reputation tied to the things you stand for in the community, and how you want the business to be viewed. This is how customer expectations are set for the interactions they have with your business. The quality and value delivered by your business is evaluated based on those...
To attract and retain the best team of employees, professional development training must be more than a fringe benefit. Both salaried and hourly employees are seeking to work for the businesses who invest in their team. It is a prerequisite for attracting those top-performers.
Make employee training an ongoing process built into your business growth strategy. As new employees become acclimated to working in your company, they continue developing their skills and grow into larger roles. There are many reasons to provide professional development opportunities to employees that directly benefit your medium or small business.
Expectations of entry-level employees have increased significantly over the past 10-15 years. Employers large and small have published job postings for entry-level positions, but requiring candidates to have 2-3 years...
Written by Randi Zimmermann
Whether in business, relationships, school assignments, or almost any situation you can think of, you can get too close to a situation and the path forward becomes dubious. Everyone experiences this barrier. You don’t have to be scared of evaluating your business.
For some reason, making decisions gets harder the closer we get to the subject matter. It becomes more difficult to see things impartially and with good judgement. Evaluating your business from an outsider’s perspective is probably one of the hardest things for a business owner to do, but it is a requirement for finding success.
We’ve all been there before – a close friend is in a terrible situation with their significant other and you just want to shake them! We ask, “why can’t you see that this isn’t going to work?” Nonetheless, you are forced to sit back and let them make their own mistakes....