How to Retain Existing Customers – ALL ABOUT SALES
How to Retain Existing Customers – All About Sales Table of Content Introduction What is Customer Retention? To conclude 1. Attempt to promote trust: 2. Offer effective customer service 3. Competitive advantage – Need of the hour! 4. Frequent communications with your customers 5. Reward programs 1. Introduction 2. What is Customer Retention? 1.Attempt to promote trust: 2. Offer effective customer service 3. Competitive advantage – Need of the hour! 4. Frequent communications with your customers 5. Reward programs 3. To conclude Introduction An average business gains 80 percent of their future profits from just 20 percent of their existing customers. “Yes, the success rate of selling to an existing customer is about 60-70 percent, while selling to a new customer is a mere 5-20 percent.” Yet, marketers get so caught-up in trying to acquire new customers that they neglect to compete for a consumer’s loyalty and fail to reach…
Increasing ROI in Demand Generation
Increasing ROI in Demand Generation “Don’t be afraid to get innovative and experiment with your marketing.” - Mike Volpe, CEO at Lola.com Marketing in the 1980s and 1990s was rather straightforward without the challenges and complexities most marketers face today. Over the last 20 years the demand for marketers to create remarkable customer experiences through creative approaches has surged exponentially. Every marketer knows that good engagement leads to a higher demand generation which leads to a better ROI. Demand generation is a rapidly evolving landscape, which is why it’s important to keep with the times on what’s working for marketers. Ask yourself: What does your organization’s sales and marketing team lack to drive growth? These are some of the primary questions, when answered, will help you overcome those obstacles and figure-out what your company ought to do, to achieve an effective marketing campaign. Let’s start from the beginning. What is demand generation? Simply put, demand generation is the process of creating interest and awareness in the products…
5 Effective ways to segment your email DataBase
5 Effective Ways To Segment Your Email DataBase Correct application of segmentation to a company’s respective email list allows a business to retain its loyal subscribers. After all, who would want to receive content that’s not appropriately tailored for them? The answer. No one. In fact, the chance of losing your sway over your faithful subscribers increases significantly when they are sent content that’s irrelevant to them. And no marketing department wants that now, do they? Unsub rates are 9.37% lower than non-segmented marketing campaigns. (MailChimp) A study found that 77% of ROI comes from segmented, triggered and targeted email marketing campaigns (DMA National Client Email Report 2015) So, segmentation of an email database is essential, to say the least. Let’s take a look at 5 effective methods to do just that, segmenting your email database: By geography and demographics- It’s probably the simplest form of email list segmentation that…
Online Database Versus Traditional Database
Data has existed for many-a-year, and its importance has been growing exponentially with time. Be it for businesses or individuals, storage and accumulation of relevant and essential information is necessary for both entities. And with the passing of time, how data was/is created and stored, can be divided into two broad categories, i.e. traditional databases and online databases. HOW ARE TRADITIONAL DATABASES DIFFERENT FROM ONLINE DATABASES? WHAT IS A TRADITIONAL DATABASE? WHAT ARE ONLINE DATABASES? Traditional databases are those sets of data or information that is collected, analyzed, segregated and stored manually within a static storage system like, paper files, external hard disks or that of computer systems. Online databases are those sets of data that are accessed, managed and stored using a cloud-based system. However, their relevance would be assigned by the businesses or the individuals owning them. The most significant and unique characteristic of this form of a…
5 Reasons Inbound Sales brings Success to B2B Companies
5 Reasons Inbound Sales brings Success to B2B Companies As we inch further away from traditional marketing, B2B companies are inclining much towards the new and updated form of inbound marketing. Inbound sales are the result of crafting an inbound marketing strategy. Focusing more on individual buyers, inbound sales is what will shape the future of the marketing landscape. UNDERSTANDING INBOUND SALES Making Your Business Significant Again Inbound sales is the process of concentrating on individual buyers, highlighting their pain points, needs, personal preferences and goals. The idea is to focus on the need of the buyer before that of the company. It is an on-going process where the solutions provided, are personalized and are focused on the buyer’s approach. Educating potential customers, singling-out their pain points and influencing them to invest in the product/service is the head cornerstone of Inbound Sales A Glance at the Inbound Sales Methodology Inbound Sales Methodology, when synced with a Buyer’s Journey, creates a successful Marketing…