It seems like an obvious insight but you’d be surprised how many retailers don’t realize (or embrace) that customer-centric marketing tactics focused on building customer loyalty (beyond just acquisition) have the most impact and highest effectiveness. Sometimes it’s a matter of proof. Here’s some statistics that simply seal the deal in our minds:
Top 3 Channels Based on Effectiveness
- Social media marketing (50%)
- Social media not only amplifies fan activity but also generates learning that leads to better products and easier marketing in the future.
- Referral marketing (32%)
- Make it easy for advocates and loyalty members to share in ways that are familiar to them.
- Search engine optimization (32%)
- Helps to increase brand awareness, increase website traffic, revenues and even customer loyalty.
It’s interesting to note that email marketing (31%) isn’t as effective as other channels, YET 85% of retailers use email marketing regularly – maybe even more so than the three most effective channels. With that in mind, email marketing is still very important but it shouldn’t be the only loyalty marketing tactic employed. Not in the slightest.
What we find even more staggering is that 82% of companies agree that retention is cheaper than acquisition YET marketers are more focused on acquisition than retention. Think of the missed sales and wasted dollars this misaligned focus could mean for your brand. That’s what we specialize in, switching gears and mindsets to the key ingredients that keep your loyal customers, well… loyal.
Presented By Kobie Marketing: Experience Loyalty
Sources:
Extole and Gigaom Research, 2014: http://www.marketingprofs.com/charts/2014/26318/retail-marketers-top-digital-channels#ixzz3rn6dnbz5
eConsultancy Cross-Channel Marketing Report:
https://econsultancy.com/blog/11051-21-ways-online-retailers-can-improve-customer-retention-rates/
