I received an email the other day with a great promotional offer from a subscription service that I use. I was pumped. And then I was not pumped, because the offer turned out to be for first-time customers only. Why did they dangle this in front of me only to snatch it away? They sent it to the same email address that’s associated with my customer account. Humph.
To a certain extent, I get it. They’re putting efforts towards growing their subscriber base and recruiting new customers. But what about the people who’ve already given them a shot and have stayed the course? Yes, they reached me with their email, but they sent the wrong message.
Maybe it’s time for companies to put as much effort towards customer retention as they do acquisition. Otherwise, aren’t they just going to end up in a perpetual game of filling the leaky bucket?
Regardless of whether you sell a product or a service, it’s important to do the following three things:
1. Create “buckets” to identify the levels of engagement that people have with your brand — from the most superficial to the most loyal.
2. Take time to understand how large these different engagement groups are and what the profile looks like for customers within each bucket.
3. Build a customized strategy that speaks to each group based on the nature of their relationship with you.
Here’s an admittedly simplified way to start assessing these customer relationships and shaping your strategies for addressing the levels of engagement that exist across the spectrum.
Once you have this type of structure in place for your brand, you can pivot to the important business of building relationships that align with how customers are experiencing you today. The more effort you put into meeting customers where they are and nurturing them through the funnel, the greater long-term success you can expect.
Get to know the full spectrum of relationships that exist with your brand and reap the rewards of hitting your targets with messages that will lead to growth.”
Sounds obvious, I know. But clearly, that message doesn’t always get conveyed. When brand leaders are focused on driving new customer acquisition, their tactics may alienate people who have demonstrated some commitment already. Don’t make the mistake that my subscription service did. Get to know the full spectrum of relationships that exist with your brand and reap the rewards of hitting your targets with messages that will lead to growth.
Ready to build a clear strategy to reach your customers?
