Alert Solutions Blog

Energizing Customer Loyalty in 2014

Posted by Cassie Breen on Thu, Jan 23, 2014 @ 14:01 PM

Customer loyalty is an important part of any business, but an extremely hard thing to gain and retain.  This is especially difficult during the holiday season when customers are distracted and impatient.  So, as we dig into 2014 and the holiday season is behind us, it is time to focus on energizing customer loyalty.

According to a 2013 LivePerson study, online shoppers give brands no more than 76 seconds of their time if their needs are not met, making it extremely difficult for a business to change a customer’s perception of their brand.   Reason? Although a customer’s distraction and impatience may be heightened during the holiday season, they still continue to be a factor through the rest of the year.

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Customer loyalty has become more and more lackluster as years have gone on.  This is due to a variety of elements including:

  • Technology

  • Omnichannel Engagement

  • Economy

All of which will continue to be a factor in 2014.  Although these influencers are part of the problem, they can also be used as a solution to energizing customer loyalty

One way that technology has become an extreme influencer on customer loyalty and customer purchasing is through Big Data.  The accumulation and analysis of customer data gives businesses insight into everything from customers’ daily behaviors and in-store visit frequency to a customer’s engagement with social media. 

This customer data can be used by businesses in numerous ways, such as tailoring customer loyalty programs to fit their customers’ needs and improving the quality of their CRM programs.  Customer loyalty programs are no longer just a coupon, but are adapted in order to offer incentives and rewards that can be used as a point of customer engagement.

Customers now also have powerful research tools at the tips of their fingers, readily available to turn them away from their usual brands at the press of a button.  With economy being such a large factor, customers can easily search online for better deals while in a store, breaking customer loyalty.  A recent study found that if an in-store price was $5 or more above Amazon's price, 63% would purchase online.

In order to energize customer loyalty businesses must accommodate customer wants and needs regarding their preferred communication channels.  Although retaining customer loyalty is not easy, its challenges can be met by using contributing factors as part of the solution.  If businesses can be proactive to satisfy customer demands, obstructing elements can become a tool rather than a downfall.

Learn more about enhancing customer engagement with Alert Solutions.

 

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Topics: multi-channel messaging, marketing analytics, marketing relevance

5 Performance Metrics That Matter for Marketers

Posted by Nina Russo on Thu, Jun 30, 2011 @ 12:06 PM

In an era of constantly evolving marketing technologies and platforms, companies need a solid game plan for measuring their digital marketing programs. But standing in their way is a big challenge, according to a new book, Digital Impact: The Two Secrets to Online Marketing Success.

Digital Impact makes a bold proposal: There are only seven metrics that are critical for performance measurement across digital channels. While countless other metrics are available to marketers, these seven are the ones that marketers should seek to master. Here are just a few:

1. Qualified Reach or Qualified VisitsMarketing Performance Metrics
Qualified Reach is the one critical metric that every marketer should use—specifically because it captures two important dimensions that no other single metric does: both quantity (number of individuals) and quality (the users have performed a desired interaction).

2. Click-through Rates (CTR)
Clickthrough is the most commonly used metric by online advertisers. CTR should continue to be used as a diagnostic metric for direct response initiatives—however, it should not be used as a primary metric.

3. Engagement Score (ES)
This is a special set of integrated metrics that captures the degree of magnetism of the content or advertisement.  Based on a flexible value point system, the ES works across all digital media, from videos and mobile apps to microsites and social community platforms.

4. Efficiency Metrics
Efficiency metrics can include cost per click, impression, lead, order, engagement and so on: These metrics represent the efficiency of a marketing program. Are goals achieved in a cost-effective manner?

5. Return on Investment (ROI)
ROI is a critical financial metric representing the value created by your marketing. All marketing initiatives, whether it is offline or online, should be measured to determine an incremental improvement in some critical consumer activity, such as acquisition, retention, loyalty, key perceptions or sales.

Topics: marketing analytics

Maximize Your Database Investments with Marketing Technology

Posted by Nina Russo on Tue, Feb 22, 2011 @ 13:02 PM

With a profound amount of technologies available to marketers these days, evaluating all of the options and buying tools that will actually benefit your effort is a tough challenge. 

Committing a large investment to a product that will not be fully taken advantage of could be catastrophic.  Most importantly, marketers need to identify a clear plan of their goals before implementing a piece of marketing technology.

By comparing your current marketing capabilities to those in your future goal, it will help you to define a strategy in each of the five following core areas:

1. Customer and Lead Data Management – Is your contact data clean, well-documented and up-to-date? Is it working efficiently for your marketing and/or sales teams?

2. Multichannel Messaging – Is managing a multi-channel messaging campaign becoming a complex balancing act?  If so, which channels are more receptive than others?

3. Marketing Analytics – Do you have the tools available to continually improve your campaigns?

4. Campaign Management – Are you getting sick of cookie-cutter marketing campaigns?  Do you employ triggered campaigns?

5. Marketing Technology – Is the technology currently available providing you with the skill sets you need to succeed?

Assessing your capability in each of the above areas will help you to align each facet of your marketing strategy before committing to a major marketing technology investment.

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Topics: multi-channel messaging, lead generation, marketing analytics

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