Conventional wisdom says that acquiring new customers is six to seven times more expensive than retaining existing customers. Businesses would have to invest considerable time, money and other resources to bring in a new customer, and therefore it is in a company’s long-term interest to keep an existing customer happy! The best way to engage […]
A customer is the best critic your business can have. So, it’s critical to engage your customers in a consistent and respectable manner to get suggestions, feedback, testimonials, and, eventually, brand advocacy. The National Bank of Oman, for instance, launched an “NBO Customer Consultant Award”, which consisted of a cash prize and certificate to customers who […]
Customer Lifecycle Marketing, Customer Relationship Management, Customer Scoring, Lead Nurturing
The Key Challenges of Nurture Marketing
Understanding the basics of lead scoring and lead nurturing will take your success as a marketer to the next level. When scoring leads, some prospects could invariably score high based on the need for the product or service that is offered – but, at the same time, they could rank low on the chance of […]
Gaining customer loyalty is of utmost importance in a highly competitive business world. This is a world in which customers have a plethora of choices, and each player tries to outbid the other through discounts, offers, features, and even having that “fun” factor. But, building a loyal customer base requires a two-step process of 1) ensuring […]
Most people evaluate businesses before striking a relationship with them, but how many businesses actually score customers? Scoring customers or evaluating them on what they bring to the business is important. Why? You can’t assume you know your prospects and customers – there are far too many flavors. Organizations are learning the hard way it […]
The lead lifecycle is a series of stages that a prospect and the marketer go through before a prospect becomes a customer. The four broad stages include gaining the prospect’s attention, convincing the prospect of an unmet need, increasing prospect engagement in the form of researching a solution for that need and, finally, the prospect […]
Technology has changed the way customers buy. Not only do prospects and customers have information at their fingertips that allow them to make informed decisions, but they also have the convenience of shopping online, or having the “shop” come to them. Welcome to the age of the educated buyer. Many marketers try to engage the […]
Think of your professional engagements – especially lead nurturing – like you would a personal relationship. No amount of promotional emails or attempts to engage your prospects or customers work, if the other party simply isn’t interested. Nobody wants to offer the ring, unless you’re sure the recipient will say yes. So, it would seem […]
On the lookout for new ways to increase engagement with customers? One innovative approach that’s yielding impressive results is introducing gaming strategy. Launching interesting mobile and online games that feature your brand is slowly becoming a great way to connect with your customers and prospects. Take a look at what Aldo did. This multi-channel footwear […]
Alchemy: a process based on the supposed transformation of matter, especially that of base metals into gold. I recently went to the IRCE (Internet Retailer Conference and Exhibition) 2012 event in Chicago and was impressed with the takeaways I left with, most of which are invaluable to business. As I listened to people talk about “Connecting […]