Article | October 12, 2020
Servicing - It is the Keyword of all the keywords for businesses. Have you ever wondered the reason phrases like “the customer is always right” or “the customer is king” are often quoted by industrial leaders? The answer to this question is that increasingly, the customers have become the main advocates of selling your products.
Customers have become one of the most primary marketing tools for businesses across the globe. As the buyers and potential customers are increasingly expecting more knowledgeable insights about the services and products offered by businesses, it is the customers whose advocacy matters the most.
Businesses are actively putting their happy customers at the forefront of their marketing campaigns and potential customers to present the value of their services and products. Advertising satisfied customers in creative ways like community marketing, testimonial videos, interactive stories, customer blogging, etc., has become as imperative as ever for businesses. Some businesses take it even a step further by participating in consortiums, communities, associations, and guest speaking at big events in the industry.
Hence, the marketing & sales teams and leaders across every industry have been trying to fill in the increasing demand for showcasing more customer advocates.
Now, the main question in mind for many people is how exactly to fill in this demand and capture more customer advocates? Is it through providing incentives to the customers? Is it some other way? Let us understand the crux of what makes customer advocacy a major draw and answer these questions along the way.
Customer Advocacy - The What and Why of Its Significance
The definition of customer advocacy is putting in immaculate focus on the needs and requirements of the customers. The customers in 2020 are smart and have many other alternatives to avail the services or products you are selling. Hence, the conception of pulling a fast one over any of your customers just to make easy money is not even an option in today’s age. In a marketplace with intense competition, businesses have no other choice than to provide exceptional customer services and experience.
It is no surprise that word travels at the speed of light in the age of social media, and any review can go viral worldwide in an instant. Therefore, customer advocacy programs have become such an integral part of businesses, providing them with a competitive advantage and acting as a secret weapon for increasing customer servicing standards in the industry.
Best Ways of Generating Innovative Service to Capture Customer Advocates
The paradigm shift in the demands of the customers in today’s age has urged businesses to dig deeper into customer insights and find the best ways to enhance their customer experience. To optimally achieve exceptional customer servicing, businesses need to be creative, intuitive, and innovative with their strategies, which would subsequently help them in generating customer advocates. Here are some of the best-proven ways to ensure peak service innovation:
Deliver on Your Promises and Acknowledge Your Mistakes: Many businesses lost sight of the primary goal of offering promises to their customers - They must be delivered on. An undelivered promise will leave a much worse taste in the mouth of a customer than lousy servicing. Hence, acknowledging your mistakes (if you make any) is a crucial part of generating customer advocacy, as it establishes trust within the customer of expecting complete honesty from a business. Building a solid foundation based on service, customer experience, responsive delivery, and in-person experiences are the main pillars of building customer advocacy.
Know the Problems of Your Customers: Market research is, perhaps, one of the greatest tools for gaining informative customer insights. An industrial leader once said that “The most important thing you can bring to a dialogue with me is knowing my problems”. This is the exact thing that the customers are looking for from businesses. Developing a customer as a viable reference requires businesses to know everything about their problems, their needs, and their expectations. Once a business knows all of this, they can excellently service their customers.
Customer References Should Be Put Together with Their Peers: Executives and managers who might be dealing with similar issues as the customers should relate to your firm for presenting a holistic view of their experience and expectations. So, how can your business connect these two forces you might be wondering? The most convenient way to connect them is via live events, the Internet, teleconferences, consortiums, and events. Here, they can not only connect, but also exchange their ideas while learning various new approaches to customer servicing.
Smartly Market Your Customers: Case studies and whitepapers are the primary sources of marketing for many businesses. Smartly incorporating customers’ achievements in advocating your business and their testimonials can pull in a much bigger number of prospects for businesses. Prospects are not looking for exaggerated descriptions of the services offered by your firm, but the real-life applications of them, which grounds the services and presents them with a real oversight of what to expect.
Coordinating PR Messaging along the Lines of the Customer’s: Customer advocacy has the word “customer” in it for a reason. Aligning your PR messaging with what the customer wants to convey about your business is very imperative. These customers will be providing their time to advocate for your business. Hence, it is important that the core takeaway of the PR messaging is properly aligned with what the customer wants to advocate about your business.
Success is a Two-Way Street: As mentioned previously, it is important to emphasize the fact that the customer advocates are devoting their time and resources for your business. Hence, their expectations for your business succeeding is for the obvious reasons. If your business falls in the category of an SME, then you are more likely to thrive for a longer time. If your business falls in the category of a large enterprise, then you are more than likely to invest your capital in product development and market research for enhancing the services your business provides. Therefore, do not feel intimidation in asking for legitimate reference support, even from your customer advocates.
Now that you are aware of how to implement innovative service for generating customer advocates effectively, all that remains is for you to practice the techniques. Businesses should understand that getting advocacy from customers is significantly different than getting purchases from them. Fresh value propositions, along with optimum future involvement, is the key to getting customer advocates. Embracing this is the most important step in realizing the true potential of the customers, and it can help your business in recording exceptional growth.
Article | January 12, 2021
The coronavirus pandemic has impacted brands and businesses in ways that we’d never have expected, but with everyone forced to adapt, it has left business owners with no choice but to rationalise and re-think their budgets.
Whether they’ve had to cut down, or change their focus, almost all companies will have been affected by the current economic influence of the world we are finding ourselves living in.
And Amelia Neate, Senior Manager at midlands-based influencer marketing agency, Influencer Matchmaker, explains where brands should be focusing their budgets and finances, and the positive impact this will generate.
Economic influence in 2021
As we enter lockdown 3.0, brands and businesses will once again be forced to adapt to new government guidelines and change the ways in which they operate.
And this economic influence has encouraged brands to re-think their finances and how to better spend their budgets.
Although it has been a difficult time for many, the pandemic has enabled brands to think more cautiously, allowed them to stay relevant and has thrust them into a digital-first world, which is the only way to move forwards.
Throughout 2020, it was proved just how important social media and online influencers really are. When the rest of the world stood still, the digital world kept on moving, and more importantly, earning.
So, if nothing else came from last year, the rapid decline in traditional advertising and the focus on social media and all thing’s digital, is enough to see exactly how 2021 will go.
Measuring the impact
Set to become a $15 billion industry by 2022, the influencer marketing industry is showing no signs of slowing down.
And with 63% of marketers intending to increase their influencer marketing budget for 2021, this proves just how successful this means of marketing really is.
Although slightly tricky when it comes to measuring metrics upon face value, influencer marketing is incredibly successful and creates truly impactful results.
By working with an influencer marketing agency, brands are able to be paired with an influencer that best suits their product, service and goals.
Influencer marketing allows brands to present their product or service to a targeted audience and in a more direct manner, too.
Not only that, but the results of all campaigns and activities are easy to track and monitor through the use of social media analytics. This allows brands, agencies and influencers to document the number of swipe up links, purchases made, views, likes, shares and other forms of impressions and engagement.
ROI (Return on Investment)
Influencers can generate impressive ROI (return on investment) for brands, whatever it is they may be trying to achieve. From increasing brand awareness and generating sales, to growing social media followings and reach, social media influencers are fully equipped to do just that.
And with industry expertise, experience and insight, an agency is likely to have access to the all-important data you need to ensure you are paired with the perfect influencer and receive the desired results.
Many business owners aren’t entirely sure where they should be spending their budgets, or even how to rationalise them, and by working with an agency, they will receive expert advice on where to spend their money to ensure effective results.
Although brands should specify what they would like to focus on in terms of ROI, when working with an influencer, brands will naturally benefit from a variety of other aspects, too – making it more cost effective than traditional advertising methods.
Customer retention and loyalty are huge benefits of working with an influencer. When done effectively, marketing campaigns can make consumers brand loyal, putting brands in great stead against competitors.
For example, many consumers are loyal to Hello Fresh. And whilst they effectively do the same, or similar job to that of a supermarket, it is their marketing efforts that put them one step ahead. By providing their customers with recipe cards, precise ingredients which limit food waste, and information on cost-per-person per meal, this is much more appealing and suits the needs of many.
And with that being said, many consumers are now striving towards living a more sustainable lifestyle. So, when presented with opportunities to limit waste, in any capacity, this will usually be taken without much further thought – which is why brands such as Hello Fresh have done so well.
Similarly, sustainability is another factor that has contributed to the decline in print advertising and the rise in digital consumption, as consumers are now able to receive the same information online without any damaging effects to the environment.
Now, more than ever before, brands and businesses are making a more conscious effort to spend their money wisely. And understandably, want to use the most cost-effective methods available to them.
2020 proved the worth of social media influencers and just how beneficial they can be for brands.
And with traditional advertising methods becoming more and more outdated, it has also become apparent that they are often more costly, too.
Although there isn’t a one-size-fits-all answer to the cost of influencer marketing, it does prove to be extremely cost effective, with research showing that businesses make an estimated 600% return for every £1 spent on influencer marketing.
The art of storytelling and human-to-human interaction
With influencer marketing, it is much more than simply selling a product. Influencers have spent years building trust and creating a tribe with the community that follows them.
Social media influencers are a new branch of storytellers, implementing an element of human-to-human interaction, as opposed to human-to-brand.
Matt Hayes, Managing Director of midlands-based brand agency Champions (UK) plc, is a firm believer in building brand love and brand trust and explains that emotion should be at the heart of every campaign.
He said, “We’re living in an era that is centred around emotion and building connections, and that shouldn’t be any different when it comes to creating a campaign.
When buying into a product or service, consumers simply look for a connection and a sense of relatability. And by utilising the power of emotion, brands will achieve trust and form that all-important bond.
Without that, brands are nothing more than a commodity, competing on price alone. And influencer marketing holds the power to unlock all of this, and more.”
With social media usage on the rise and with research showing that approximately 82% of users have increased their social media consumption since the beginning of the pandemic, this shows no signs of slowing down just yet.
And with brands seeking to find new ways to become digital-first, many are finding it hard to stay relevant and keep up.
If you’re looking to rationalise your budget and remain at the forefront of consumer’s minds, then influencer marketing could be for you.
Article | July 21, 2021
There are several marketing strategies and methods to promote your brand, but only a few of them provide afavorable response. Retargeting is one of them that gives marketers authority to attract its potential customers after losing them once. Moreover, its unique features assist in boosting the conversion rate by an incredible 161%.
More than 97% of potential clients who visit your website for the first time leave without buying anything. They are lost forever unless you retarget them.
Retargeting approach recalls your past website visitors who left without taking any action. Through retargeting statistics, you become more aware of your target audience and approach to show your visitors appropriate visuals or text ads when they visit other websites. There are different kinds of retargeting advertising platforms that marketers use to influence their visitors and increase their customer loyalty,such as Facebook retargeting, Google ads, LinkedIn ads, etc.
Some of the marketers are confused about retargeting and remarketing. Bothterms are used these days interchangeably. The objectives of both are the same, but there is a slight difference between both of them.
Retargeting is an unavoidable marketing strategy that gives desired results. So let’s look at some of the valuable and essential retargeting statisticsthat can help you re-engage your potential customers and convince them to purchase your product or service.
Website and Retargeting
Only 3% of visitors come back to your website who visit for the first time and leave without purchasing anything.In other words, you can say approximately 97% of visitors leave the website without purchasing anything. It shows that you are losing the massive majority of traffic without doing anything wrong.Retargeting was invented to approach those visitors in a very sophisticated, relevant and, resourceful manner. That is the reason retargeting statisticsis beneficial to know the visitors and their requirements.
Approximately 87% of businesses execute site retargeting.There are mainly four types of retargeting. Site retargeting is one of them broadly used by marketers hidden in Google Adwords setup. Site retargeting is a time-consuming process that maintains your quality score. It needs in-depth research and willingness to experiment to find the most effective approach.
An appropriately executed retargeting campaigndecreases cart abandonment by 6.5%. Shoppers abandon carts for many reasons such as shipping issues, planning for in-store shopping, lack of payment options, etc.
Digital Marketing Campaign
Facebook is one of the best result-driven platforms for effectively executing marketing strategies. It has the biggest social network with more than 2 billion monthly users. It is also one of the most used platforms for practicing retargeting strategies.
Near about 90% of businesses believe retargeting performs better than other digital marketing strategies. Search, email, display advertising, or other marketing strategies are considered less effective than retargeting. The ability to re-engage with the maximum of viewers who weren’t ready to convert upon their first interaction with your brand is what makes retargeting the most potentpiece of your digital marketing campaign.
Online Visitors Perception
25% of online audiences are positive about seeing retargeted ads. They are happy to see retargeted ads as they are alluring and something that might be of interest. It evokes customers’ interest in purchasing products or services and boosts brand credibility.
70% of online visitors easily convert with retargeting. These users who visit a website are more likely to convert than those who are not retargeted. Retargeted ads empower the campaigns and boost click-through rates. The conversion rate for retargeting is 128% which variesbased on the niche or industry.
Businesses and Their Marketing Goals
70% of businesses utilize retargeting to enhance brand awareness.Brand awareness is one of essential aspects as it is the first step of the marketing funnel. It allows your target audience to recognize and believe in your brand. Prominent businesses focus on building positive brand awareness and perception of the brandrather than only selling products. They believe that other brands cannot influence the buyer’s mind after creating authoritative brand awareness.
More than 27% of e-commerce businesses are investing in retargeting. As a result,E-commerce retailers have experienced high ROI, gain insights, and received more sales by implementing retargeting. Retargeting is also cost-effective, which continuously evolves as technology becomes more advanced.
Retargeting ads assist B2B marketers in reaching their marketing goals. As a result, more than 71% of customers get aware of the brand, sales enhance by 55%,and the lead generation boost by 39%. Retargeting is simply a fascinating and powerful tactic to reach desirableoutcomes.
Different industries are investing their time, energy, and money in retargeting. For example,27% of retail, 17% of tech, 10% of healthcare, 9% of finance, 8% of education, 5% travel, and 4% of agency websites execute retargeting to reach their objectives. The number is increasing day by day as they find it a unique and result-driven strategy.
33% of businesses utilize retargeting to find new customers.In addition, over one-third of businesses found that retargeting insists customers share retargeted ads with their family or friends that help the brand to gain new customers.
46% SEO businesses believe retargeting is the most underused online marketing strategy.Despite the increasing popularity and awareness of the benefits of retargeting, it is still underused.Search engine marketers believe that retargeting assists SEO in performing better and enhances conversions.
Retargeting is a fantastic way to provide positive ROI, boosting sales and conversions, enhance brand credibility. The average CTR for retargeting ads is ten times higher than regular display ads. The marketers use different kinds of retargeting ads as per their requirements. Here are some common kinds: cross-channel retargeting, account-based retargeting, email retargeting, customer retargeting, buyer persona retargeting, etc. Retargeting ads have multiple benefits. It builds brand affinity, makes your SEO strategical approach efficient to perform better, and gives intended results.
These retargeting statistics elaborates on the importance of retargeting in converting online visitors into long-term customers. It also shows that marketers found this strategy valuable and spend worthy. It is essential to keep best practices in mind for maximum benefit while using retargeting.
Frequently Asked Questions
What is retargeting, and why is it important?
Retargeting is the process of reminding your website visitors of your product or service after they leave without purchasing your product or service. It gives authority to marketers to again attract its potential customers after losing them that helps in increasing the ROI of your campaign.
Why is retargeting important for ads statistics?
Retargeting is important to know more about the target audience, their interests, requirements so that you can show them relevant and informative ads soon. Knowing your audience better enhances your strategic approach.
Why is retargeting essential for any marketing funnel?
Retargeting helps all the seven steps of the marketing funnel to perform in a flexible and better way by re-engaging potential customers. It builds a strong connection with your target audience.
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Article | March 26, 2020
Voice Search is a speech recognition technology that is on the verge of becoming a household gadget globally, or one must say, it has already become entirely. Voice Search is a 20th Century concept which has improved in its capacity with the evolution of technology in the first decade of the 21st Century.