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No Need to Hunt for Marketing Ideas This Easter
When new seasons roll around and business quarters are demanding new leads, it can be ever so easy to get caught up in the excitement of attracting new customers and neglect the value of existing ones. This is why I use Easter as a great analogy for not needing to hunt for those new customers and use it as a time to find value in those you already have.
Many brands believe that launching big marketing campaigns during the Easter season will attract new customers, and although success isn’t unheard of, there is also other avenues to drive sales. Recent studies have found that it is 30 times more expensive to win new customers compared to upselling/ cross selling to those already on your books. Not only this but the landscape for attracting new customers in the future is set to change with Google announcing the removal of cookies in the near future. Those well-rehearsed retargeting campaigns may no longer work. Focusing solely on customer acquisition can lead to neglecting your loyal customers who have already made purchases from your brand. These individuals are already familiar with your content, product or service and are psychologically more inclined to repeat their purchase behaviour.
At this time of year, I’d like to see more brands focus on strengthening their relationship with their existing customer base. By analysing customer data, brands can understand their buyer's preferences and behaviour, enabling them to tailor their marketing efforts specifically to them. This personalised approach will make customers feel appreciated and valued, leading to increased loyalty and repeat business.
Take yourself as an example. Imagine, last year you purchased an item for your May holiday and today decided you would log back into your account to see if there was anything else that could work for your trip next month. That retailer should be able to recognise your activity, identify what you were interested in and provide personalised suggestions to aid and perhaps encourage your decision-making. This could be done through an SMS message or even a WhatsApp message containing images and links to those products. By the brand approaching you in this way, perhaps even with a loyalty discount as a thank you for your intrigue, you are more inclined to feel valued by the brand and enjoy your shopping experience. Those easy-to-use links included in the text messages are also going to make it easier for you to return to the retailer’s site to complete your order.
But the benefits of this strategy don’t stop there. Analysing customer data can also provide valuable insights into industry trends and customer needs. By monitoring this data, brands can identify areas where they can improve their products and services. This, in turn, can lead to increased customer satisfaction and loyalty. If you identify that Easter is in fact the time of year when customers tend to spend more on a return visit to your site, make the most of it!
Neglecting existing customers can lead to a decline in loyalty and repeat business. I have seen first-hand how a creative mobile messaging targeted towards existing customers achieved the success many are chasing. This campaign received 89% read rates for all targeted, which led to a subsequent conversion rate of 7.5% for all CTAs put in place. Now these rates are just unheard of or at the very least, very costly when you compare them to the new business world. I believe that the ability to personalise and target the message directly to the existing customer’s handset led to this campaign’s success. We know everyone is always on their phones these days, so why not talk to them where they are and through a means in which they operate?
This personalised approach isn’t as complicated as it seems and creates positive customer experiences, improves customer satisfaction, and ultimately leads to long-term success for your brand.
So, this Easter, save yourself time and avoid the traditional hunting for now. Make the most of the customers you have onboard. Who knows what lifetime value they hold? Maybe it’s time to find out?
If this has raised your ears, please do not hesitate to get in contact with us, where we will be happy to identify the different ways you can target your existing customer base.