Maximising the effectiveness of sales channels is a sure fire way of achieving company revenue targets. Sales channels, regardless of how strong they are, require support and tools to engage, convert and then grow the customer. There are a number of marketing techniques that companies can utilise to boost their sales efforts in each of these three categories. Some of these techniques are discussed below.
Combining editorial and advertising, Content Marketing involves identifying the challenges and needs that connect with the hearts and minds of customers and then creatively linking this to a product or service that provides a solution to this need.
Organisations can build and grow a strong member base through key social networks including Facebook, LinkedIn, Twitter, Instagram and Pinterest. To keep this member base active and engaged, businesses must communicate compelling messages on a regular basis. Additionally, the specific information available to clients about customers through social networks, provides an opportunity for targeted messaging. Leveraged correctly, social media channels can transform customers into advocates who can like or share messages with their peers and colleagues.
Old Fashioned Networking
Involvement in an industry event or better still creating your own event, provides opportunities for building rapport and strengthening relationships with targeted customers. When creating an event program, it is essential to deliver value and a compelling reason for prospects to attend.
Through remarketing, organisations are able communicate with people who have visited and left their website without purchasing a product. Since only 2% of traffic converts on a first visit, this is a key strategy for many businesses. This concept works by displaying targeted ads to website visitors as they browse the internet. These ads remind potential customers about the organisation’s brand and the product they are interested in, compelling them to revisit the website and make a purchase.
Companies can increase conversion rates by giving the customer a reason to buy now. Incentives or offers particularly those valid for a limited time, are a traditional yet extremely effective way to get customers to act sooner rather than later. The success of an offer led campaign goes back once again to perceived value – it is essential that the offer provides customers with a genuine incentive to buy. Another consideration is that offers must be crafted carefully not to isolate regular customers or those who made a purchase before the offer period.
For organisations that sell to other businesses (B2B), tools which verify company capabilities, overcome objections, and provide solutions to customer needs are essential for sales conversation. Some effective marketing tools include sales proposals, capability statements, case studies and testimonials, email templates, product sheets, product and industry packages. Marketing automation is another key tool with a proven ability to increase sales through customer profiling, lead nurturing and campaign management among other things.
Customer loyalty programs
Incentivising and motivating customers to continue to do business with you via loyalty programs is a common yet effective method for increasing customer share of wallet. Given the number of these programs in the market place, it is essential that loyalty programs reward customers with value and this value is relatively easy to obtain. Loyalty programs can be structured in a number of ways, some of these methods are outlined below:
Reward points are the most common way to structure a loyalty program where customer purchases earn points. Points are then redeemed for a reward. This method best works when the connection between earning points and receiving a reward is simple and easy to understand.
The loyalty ladder provides increased benefits as customers purchase more, encouraging loyalty and repeat purchase.
Rewards through strategic partnerships with organisations that provide related services are another way to increase customer satisfaction and loyalty. This provides discounts or rewards to customers on related products and relies on a strong understanding of customer needs to be successful.
Customer experience strategy
The most fool-proof method for increasing customer satisfaction, loyalty and referrals is to provide your customers with a service experience that exceeds their expectations. Often, companies promise much more than they can deliver and once on boarded, customers find that their experience falls short. Aligning the service experience with the customer promise, requires much more than meets the eye, it requires a comprehensive customer experience strategy. This strategy involves understanding the expectations/needs of various customer segments, designing the experience based on these expectations and delivering it consistently across all touch points. This requires aligning all company divisions to deliver the service promise and integrating these divisions through a CRM program.
There are a wide range of marketing tools that are available to engage, convert and grow customers which in turn boosts company profitability. As a marketing consultant focused on driving real results for customers, Feonix is well versed in developing and applying tools that work for your business which consider your target market, resourcing and objectives.