In a very turbulent social and economic time, brands thank their consumers for continuing to support them, but only a few dare to say so, despite having an excellent tool at their disposal: incentive marketing.
They say that from every crisis comes an opportunity. Well, if any lesson can be learned from all this, it is that looking back at current customers, listening to them and trying to retain them by thanking them for their loyalty to the brand is one of the most powerful commercial tools that exist.
That is the basic principle of incentive marketing: customer loyalty through bonuses that reward their recurring sales or their recommendations, in this way, the customer feels indebted to the brand and buys again.
It is estimated that 44% of brands focus their marketing budgets on acquiring new customers, while only 19% focus on retention. If your company is in that 44%, it may be time to rethink your strategy. In a context of uncertainty and widespread price increases such as the current one, companies tend to be conservative and winning back their current customers can mean the difference between closing or maintaining and even increasing sales.
Allocating part of the marketing budget to improve loyalty and retention programs will result in happy customers and that, sooner or later, will affect the acquisition of new profiles. A satisfied customer will not only be loyal to the brand, but will also act as its advocate, and we must not forget that the 92% of consumers they trust recommendations from friends and family more than what the ads say.
Social networks are the perfect loudspeaker for this type of initiative. They inform about the characteristics and operation of the program, they work as an excellent thermometer that indicates where the company is in relation to its customers and maximize its visibility.
Unfortunately, they are also easy targets for negative feedback, so the company should make an effort to get to know its customers and how satisfied they are with their brand. This is achieved by staying in contact with them, asking them questions and identifying signs of discomfort, such as not responding to their communications or not reacting to discounts and offers. A well-trained and alert customer service department will be the first line of defense on which loyalty will largely depend.
Having clear guidelines on how we develop our incentive marketing is also necessary. Whether we organize it in-house or if we choose to outsource it, we must identify some objectives, define a budget, draw a route and analyze what has been achieved in order to make the changes that allow us to optimize the scope of the programs.
Finally, the involvement of the entire organization in the process is required. A good product will not sell if it is not attractive. Customers will not buy again if they are not treated correctly after payment. The recommendations will be reduced if the package does not arrive in the correct time and form or if the after-sales team does not do its job well. This is a chain that must be well oiled and move in unison to function properly.
In short, if you are proud of the clients you have, do not let another second go by and let them know. They will greatly appreciate it and if, in addition, you prove it with a reward, they will become loyal consumers and even brand advocates, which, in the near future, will translate into sales and new customers.
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