Focus on retaining existing customers to reduce your costs!
After all, an optimal experience builds loyalty! 91% of dissatisfied customers don’t buy again from brands who haven’t met their needs and expectations (Source: Lee Ressources). So, dissatisfaction has a direct impact on your brand image and revenue.
After all, an optimal experience builds loyalty! 91% of dissatisfied customers don’t buy again from brands who haven’t met their needs and expectations (Source: Lee Ressources). So, dissatisfaction has a direct impact on your brand image and revenue.
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What are “customer costs”?
“Customer costs” refer mainly to the cost of acquiring a customer. In other words, the average amount spent to convert a lead into a customer.
The customer acquisition cost is an indicator used to measure the effectiveness and efficiency of marketing acquisition levers. Of course, there are several ways to reduce the cost of acquiring new customers, including a retention strategy by measuring satisfaction.
Indeed, customer costs are closely linked to satisfaction. For example, if a dissatisfied customer posts a negative review, you will have to spend more to convince and convert your leads. Whereas, if your customers are satisfied, they will post positive reviews and acquiring new customers will require less investment.
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Do you know what consumers think of your brand?
Your brand image is the way that your customers, service providers, employees or Internet users perceive you.
Your brand image evolves all year round due to your company’s history and positioning, your external and internal communications, as well as the quality of what you market. Experts today agree that brand image exists on several levels:
- Desired brand image: what you want to convey
- Perceived brand image: how your employees, customers, leads and suppliers see you
- Actual brand image: somewhere between the desired and perceived image
- “Potential” brand image: what you can achieve by working on your image and improving your brand awareness
Implement a Voice of the Customer program
Collecting customer feedback is key to reducing acquisition costs and building customer loyalty.
Implement a Voice of the Customer program by deploying smart surveys and satisfaction studies at key moments of the customer journey across all channels (website, email, chat, mobile apps, SMS, social media, etc.). The most advanced brands in terms of customer experience are those who ask their customers about their level of satisfaction, the products and the services.
Influencer Marketing
Our Influencer Marketing solution brings together influencers, consumers and brands around authentic experiences on social media and e-tailers’ product pages.
Ratings & Reviews
Discover the solution Ratings & Reviews Our Verified Reviews solution allows to collect, manage and leverage customer reviews to improve brands’ online reputation and conversion rates.
Consumer Videos
Discover the solution Consumer Videos Our consumer video platform enables brands to engage their communities through the creation of video content that is then posted on their product pages, social media and any other communication channels.
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Reconnect with your customers
Customer satisfaction and retention has gained momentum over the past twenty years. Previously, companies would focus on the product rather than the customer. But this has changed, and many businesses have now adopted a customer-centric approach. This means that decisions are taken by assessing their impact on customers. How? By collecting customer feedback through personalized surveys at every stage of the customer journey. This allows to assess the quality and satisfaction of your customer experience and to continuously improve it, based on feedback.
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Reenchant the customer experience with feedback
What better way to improve your customer experience than by asking customers what they think? Use their feedback to optimize your buying journey and satisfy as many people as possible! Analyzing the Voice of the Customer enables to: Measure customer satisfaction levels Identify the moments that generate the most satisfaction Detect irritants and friction points on your customer journey, which generate dissatisfaction Collect suggestions to improve your products and services so that they better meet your customers’ needs
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Regain control of your marketing budget
As a retailer, defining your annual budget is crucial. Are you still wondering which channels to invest in to get the best possible results, and how to measure the ROI of your actions? To avoid a headache every year, you need a centralised, omnichannel view of all your levers and campaigns. And thanks to a solution like Customer Data Activation from Skeepers, you can simulate the impact of each of your media strategies. This will enable you to make informed decisions based on data and artificial intelligence, personalise your media plans according to each individual, simplify your day-to-day work thanks to campaign automation and control your marketing budget by allocating it efficiently.
15%
of the most loyal customers represent on average 60% of a company’s total sales.
Trusteam Finance
24%
Buyers return 24% of products ordered on the Internet.
Fevad
5 to 25
Acquiring a B2B lead costs 5 to 25 times more than retaining a customer.
Harvard Review
72%
of customers share a positive experience with 6 or more people. Whereas 13% of dissatisfied customers share their opinion with 15 or more people!
SlideShare
5 reasons to build customer loyalty to reduce costs:
- Customer acquisition costs more than retention.
- You’ll be able to respond more precisely to your customers’ needs and preferences.
- You’ll easily be able to transform loyal customers into brand ambassadors.
- Loyal customers are more likely to help you improve your products and services.
- Loyal customers require less assistance, which reduces your customer service costs.
Our resources
Blog articles, case studies, e-books… We have plenty of resources to help you reduce your customer costs!
Want to find out more?
Check out our articles
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It’s time to get real about Customer Loyalty
