You’ve had the hit debut album. You’ve avoided second album syndrome and improved upon the first. You’re now just one album away from achieving a full rockstar status. In the past two marketing rockstar pieces, we looked at maximising internal value and the importance of client value. But now you’ve got the clients, how do you keep hold of them?
By 2020, it’s reported that customer experience will overtake price and product as the key brand differentiator. Client satisfaction is an ever pivotal part of any organisation’s operations, and could be the difference between a short or long term client relationship. Reducing your customer defection rate can increase your profitability by 25 to 125%, and client satisfaction should always be at the forefront of your priorities.
In our third and final marketing rockstar piece, we’ll examine how you can build upon the relationships with your clients, how to keep hold of them, and of course, how this can lead to achieving marketing rockstar status.
Remember the history
Pick one of your clients at random. Now, how long have they been a client? Have they experienced any issues in the past? Have adjustments been made to build upon and improve the relationship? You should be able to answer these questions quickly, concisely and confidently. You need to understand the history of the relationship with your clients, and with that, see how best to improve upon them. Naturally, the bigger your company gets, and the more clients you take on, the harder it becomes to know each one individually. You should, however, always try to provide your clients with an individual and personalised service.
The more satisfied your client is, and the more they feel wanted, the less chance there is of them leaving you for a competitor. On average, it costs five times as much to attract a new customer as opposed to keeping an existing one, and the probability of selling to an existing customer is 60-70%, while selling to a new prospect is only 5-20%. Financially speaking, you simply can’t afford to disregard your current clients.
Prioritise your clients
It’s only natural for marketing and sales to spend a significant amount of time trying to attract new clients. It’s how you evolve and grow as a company. Your top priority, however, still needs to be your current clients. They’re the ones currently providing you with a revenue stream, and accordingly, deserve the upmost attention. You have to provide them with a service unparalleled to your competitors, and one where you’re contactable at any time.
82% of consumers say the number one factor that leads to a great customer service experience is having their issues resolved quickly. Be sure to keep this in mind when handling clients’ queries, and be ready to prioritise their issues above any other company matters. You should also keep in mind that despite the technology at our disposal, sometimes the best way to communicate with a client, or help them with an enquiry, is to simply pick up the phone and speak to them. Or better yet, if possible, meet them face to face. It's this kind of communication that highlights your dedication and shows how much you value their continuous commitment to your brand.
Build upon the relationship
So we've established that it’s your duty to build a long-standing relationship with the most important clients that align themselves with your organisation. One of the most effective ways of keeping your clients informed is through content marketing. A total of $118.4 billion will be spent on content marketing in 2015, with 9 out of 10 organisations utilising this method. If you’re not already investing in content marketing to improve client experiences, now is the time.
Content marketing campaigns, such as a weekly client newsletter, and content management system, allow you to keep your clients informed of what’s occurring within the company, along with reminding them they are still your number one priority. Regular blog posts that further educate them can only increase client satisfaction and improve their customer experience. 89% of companies see customer experience as a key factor in driving customer loyalty and retention, and that experience can be increased if you create content with a knowledgable and personalised quality. Reward your clients with content that is educating over selling, and your clients will reward you with loyalty and retention.
Time to perform
As any true rockstar will tell you, there’s no limit to your potential. There is no finish line. A musician, or a business, can never be fully satisfied and there is always room for improvement. These improvements, however, are far easier to achieve when you have solid relationships, both internally and externally. If you can follow the steps provided in this series, then you might just be on route to landing the gig of a marketing rockstar. The stage is set. All that’s left is for you to go out there and perform.
