Email Marketing Guide – How To Have Your Cake And Eat It Too

Have you heard about email automation? Or, have you heard about it, but just the name sounds too intimidating to explore further?

In today’s article, we’re going to look at how automation leads to an increase in customers, growth for your business and improved revenue.

We’ll take some of the mystery out of email workflows and automation so you can get busy with your email marketing.

Here’s your email marketing guide.

Defining Email Automation

Let’s get rid of the mystery. Email automation is the best way to engage your customers because it allows you to send out a string of emails at just the right time.

With email automation, you let your email service provider do the heavy lifting for you. For example, if a customer places several items in their shopping cart and leaves, you can target them and reach out to remind them they left something in their cart.

Often times, this encourages their follow-through.

Email automation allows you to develop a closer relationship with your customers because you can maintain communication and increase brand awareness.

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How To Use Exit Interviews and Surveys To Improve Customer Retention

How To Use Exit Interviews & Surveys To Improve Customer Retention

A lost customer is painful for your business – both for your bottom line and your ego.

The importance of customer retention isn’t to be taken lightly. That’s why, in this article, we take a look at how to use exit interviews and surveys to improve customer retention.

You may be wondering, “What’s the purpose? After all, they’ve already left my company?”

The purpose of conducting exit interviews and sending surveys is to find out what you did wrong, why the customer left the business, and how you can improve so you keep more of your current customer base.

So, let’s get to it.

Customer Retention Stats

According to Score, the following can be said about an unhappy customer:

  • For each one of your customers who complains, 26 remain silent.
  • The average unhappy customer tells eight to 16 people about the bad experience.
  • 91% of unhappy customers will never buy from you again.
  • If you try to resolve a customer’s complaints, 82-95% percent of them will stay with you.
  • It costs you about five times as much to attract a new customer as it does to keep an existing one.

Those are some heavy prices to pay for lost customers. Now, wouldn’t it be nice to know why they are leaving and what you could do differently in the future to prevent such a loss?

The Customer Exit Interview

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Customer Retention Stats, Studies & Best Practices For 2016

Customer Retention Stats, Studies & Best Practices For 2016

Do you know the value of loyal customers? Have you ever created a strategy built around keeping those customers while maintaining and building your relationship with them? Have you explored a customer retention strategy?

If not, we encourage you to do so. Retaining your current customer base is often referred to as the low-hanging fruit. What do we mean by this?

The fruit that hangs low is easily reachable, and it requires minimal effort to pick it. The same can be said for your current customers. They can be won or persuaded to stick around with little effort. Now, that doesn’t mean no effort.

Because you have to invest a little to get a lot, and we want to help you with your strategy, we’re going to look at customer retention stats, a study and best practices for 2016.

Customer Retention Stats

To drive home the importance of customer retention, here’s a list of stats:

  • It costs 500% more to acquire a new customer than it does to keep a current one. ~Destination CRM
  • It costs 16x more to bring a new customer up to the same level as a current one. ~Marketing Tech Blog
  • It’s cheaper to retain a customer than to get a new one. ~Econsultancy
  • The average repeat customer spends 67% more in months 31-36 of their relationship with a business than they do in months 0-6. ~Bain and Company
  • 47% of customers would take their business to a competitor within a day of experiencing poor customer service. ~24/7
  • 97% of consumers said they are somewhat likely to become more loyal to a company that implements their feedback. ~Apptentive
  • 81% of consumers are more likely to continue doing business with brands that offer loyalty programs. ~Bond Brand Loyalty

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7 Rules of Retention Marketing

7 Rules of Retention Marketing

Did you know that it is five times cheaper to retain a customer than it is to acquire a new one?

Customer acquisition costs can break a marketing budget, yet many businesses spend more time focusing on attracting new customers than retaining their loyal customers.

That’s a puzzling statistic since one study says if you increase customer retention rates by just 5%, you’ll increase profits by 25-95%.

While we believe in customer acquisition tactics, today, we’re going to give customer retention it’s fair representation. In this article, we look at the seven rules of retention marketing so you can improve your rates and grow your business.

If the words “retention marketing” leave you scratching your head, we’re going to define retention marketing for you first, and then look at the seven rules.

What is Retention Marketing?

In its simplest form, retention marketing is what you do to keep your customers engaged, happy and spending their money.

Sometimes it’s called life-cycle marketing or loyalty marketing,

Retention marketing is a fairly new term, but one that is becoming quite widespread in marketing circles and the realm of eCommerce.

With retention marketing, through various activities, you create engaged customers that return to your online store again and again to make a purchase.

You increase the likelihood that your current customers will purchase again while putting some emphasis on increasing their purchase rate and amount.

Here are seven rules of retention marketing.

Rule #1: Provide Exceptional Customer Service

Customer service can be more important to your customers than the actual product. Consider the customer who makes a purchase on your website.

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The Best Of The Best – Top 5 Email Marketing Tools For 2016

The Best Of The Best - Top 5 Email Marketing Tools For 2016

Email marketing is important to your marketing strategy. So important, in fact, we’re going to highlight the best of the best – top 5 email marketing tools for 2016.

First, let’s talk a bit about why email marketing is pivotal to your overall marketing plan.

Benefits of Email Marketing

In an email statistics report from the Radicati Group, we learn that more than 2.6 billion people worldwide use email, and they expect more than one-third of the world’s population to be using email by 2019.

The report goes on to explain that businesses send more than 109 billion emails to their customers daily.

Email marketing is simply one of the very best ways to get in front of your customers. With email, you have the ability to land right in your customer’s inner sanctum.

In an age of ultra-personalization, you can customize your email marketing to your customers’ needs and interests.  You can provide them something of value that they appreciate. This makes your business top of mind when they’re looking to make a purchase.

One of the other great benefits of email marketing is that you can segment your audience into separate lists. This allows you to reach them with targeted content. For example, let’s say you are a swimming pool company, but you also sell grills.

You can send one email to your pool customers and one email to your grill customers.

The other benefit of email marketing is that it’s inexpensive. You can reach a large number of people at a very minimal cost.

Now, let’s look at the top five mail marketing tools for 2016.

#1: MailChimp

The first thing that makes MailChimp the best of the best is their Forever Free Plan – a great tool for small business owners and non-profits.

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