The conversion should not be random. Once you have provided a basic level, you need to increase its performance (preferably – not allowing these errors).
Marketers tend to spend too much time to attract buyers rather than to keep them. While it may seem that the work on customer retention lies on the shoulders of support, wise marketers understand that these areas are closely related.
For business growth with disabilities simply not enough – they must be of high quality and represent a solid basis for relations, revolves, bringing business profit after the first sale.
In other words, marketers must continually optimize for the formation of “customer lifetime value” (hereinafter – SLV).
This does not mean that you necessarily have to raise prices by reducing the cost of the measure to attract one customer or to offer new services. Sometimes improvement CLV level is reduced to optimize the already existing systems – from the sales funnel, and ending support.
We are talking about the post-conversion methods!
The optimum conversion rate is expressed in the fact that customers are investing in your business is your time, trust and money, so they are more likely to buy your product again.
Here’sa 5 post-conversion strategies for the development of “lifetime customer value” that can be applied today.
- Focus on the customer
Marketer’s job does not end after reaching the level of the basic conversion. After buying the quality of leads you need to ensure the well-functioning of the system and turn customers into repeat customers.
In a study called Zendesk customers quality products / services (88%) and customer support (72%) for two main reasons loyalty of regular customers.
The importance of quality has not become a surprise for us, but the emphasis on working with the client is very interesting: it is rarely noted as a fundamental principle in the development of consumer loyalty and CLV.
HubSpot offers an excellent example of how to work with the client affects the CLV. After the evaluation of customer satisfaction could halve consumer churn rate and double the lifetime commitment to customers all over the year.
After assessing customer satisfaction services, HubSpot increased CLV (orange line) to 215% in 15 months.
Improving the level of commitment to customers is realized in meeting the needs of your customers and the manifestation of your careful attitude toward them. Even the best product will not provide customer constancy in the world, if the company belongs to them bad.
What can you do to improve your customer service?
Here, your options are almost limitless.
As you yourself have noted a good level of work with the client, think about how you can use it for your company to optimize the conversion of the long-term? Can you offer a free upgrade? Is it possible to call the customer and see how he is pleased with the product?
All that shows makismum your efforts in improving the lives of your customers will inevitably increase the level of commitment to customers.
An excellent level of customer support will provide you with repeat purchases.
- Exceed expectations unexpected surprises
Before we acquire something, a special section of the brain called the pleasure center, strengthens the nervous excitement. This reaction makes us feel pleasure, because in this part of the brain is a lot of dopamine receptors that make us happy to look forward to the event.
Dopamine receptors in the pleasure center makes us happy to wait for the event, for example, if we’re going to buy something.
However, once we buy something, we begin to feel different forms of cognitive dissonance – usually in the form of the syndrome of repentance, which is expressed in the reduction of consumer power and the valuation of the alternative possibility of the goods that we just bought.
Currently dissonance can apply force exceeding expectations, to increase the level of endorphins in customers and make them happy again.
An example of how surpassing expectations help in increasing conversion
An example from the sphere of the music business: (a client with which a lot of time and money in the studio to create a suitable package of services has been spent).
Once a customer buys the package, he was offered the opportunity to receive additional free products at $ 100 a repost on Facebook. This action resulted in 250 Fortress, which provided 34 extra transaction within 5 days (on how to increase the number of Fortress – link).
Please share information about customer buying Facebook turned 34 transactions, which brought more than $ 2000 of income for 5 days.
Admission appeal to the buyer with an unexpected bonus at a time when he could feel the cognitive dissonance it possible to completely avoid the return of the goods and get informed audience.
Also, this method increased the conversion rate of other traffic sources from 5.6% to 8.3%.
This is due to the fact that the selling page, demonstrated real-world examples, together with a call to action. The more people share information about purchasing, the more popular it became the very sentence among the potential buyers.
How to exceed the expectations of your marketing campaign?
How to feel your customers immediately after the payment of your product or service? The major role played by the price to your customers, the more they tend to feel the various forms of cognitive dissonance.
Is there any available means by which you can surprise your customers?
Moreover, if you can use this opportunity to the maximum to get their clients to advertise your product, while increasing the level of CLV and reducing the cost of the measure to attract customers?
Constantly surprise customers added value, and they will thank you profusely.
- Increase the volume of purchases for an additional cost
If you ever have booked plane tickets via the Internet, you are familiar with the principles of increasing the volume of purchases and cross-selling.
According to a survey of 176 airlines, which conducted Amadeus IT Group, airlines receive more than $ 36 billion from the increase in purchasing volume, which is to sell the additional baggage weight, high level of comfort seats and goods on board.
To book a ticket on Jetstar website, you will have to give up 19 different additional suggestions, techniques and cross-selling value-added products.
Why is this a favorite tactic of the airlines works so well?
The first reason is to increase the efficiency of the purchase volume: the “default”
The TED program of lectures behavioral economist Dan Ariel explained the psychological connotations of the process of increasing the volume of purchases and an additional cost. One of the key components was the “power on default settings.”
The diagram represents the consent of the inhabitants of different countries to become donors in the event of death.
Why the Danes, the Dutch, the British and the Germans (the country with the yellow indicator) do not want to give their bodies to organ donation? It was found that they were not included in the default polling. And the inhabitants of these countries need to further select them for voting.
You can also see the effect of increasing the purchase volume during the acquisition of the domain name: you’ll notice that the email address and security measures are added to the package by default services. You need to think and decide to abandon this option if you do not need.
Pretty simple, right? And this is only part of the strategy.
The second reason is to increase the efficiency of the volume of purchase: price fixing
Another psychological aspect in increasing the purchase volume lies in fixing prices. If you just paid $ 500 for a plane ticket, you will seem insignificant to pay an extra $ 10 for entertainment on board.
But if you are already on board and you have $ 10 in cash, you will seem quite expensive to pay $ 10 for an hour watching a movie.
People are hard to assess the value of the products at their actual price. Instead, we will give a good estimate of the relative.
How to increase the purchase volume in your marketing campaigns?
So, if you want to effectively increase the volume of purchases, nobhodimosti:
- Take into account, the volume of the product, you can increase the default.
- Think about how your customers evaluate your decision? On what standards they are oriented to solve, you offer cheap or expensive? How can you influence it?
What guided your potential customers thinking about the price of your product? Can you differently formalize its proposal?
- Use an automated marketing to increase conversion
For 2 years the cost of the marketing automation industry increased from 500 million to 1.2 billion. One of the key secrets of this growth was the impact of marketing automation to measure CLV.
When switched to the service Skullcandy Adobe Marketing Cloud, they increased profits from additional sales by 30%. Ben Meacham, their analytics and testing manager explains this increase as follows:
“Go with the recommendations of the manual, on the Adobe recommendation system increased revenue from additional sales by 30%. Moreover, it saves us time. Optimization recommendations take up to 10 hours a week. Now we are only half an hour we spend on it. ”
There are several reasons why marketing automation has great potential, but, in fact, they are reduced to simplify the marketing personalization.
Here is a simple formula:
The more personalized marketing company, the more relevant. What is more relevant is the proposal to a potential client, the greater the chance of conversion and the potential profits from the customer.
marketing automation example in action:
Consider an excellent example of a company for sending wedding invitations PaperStyle.
The company has divided the visitors to the bride and bridesmaid, so they did to make the procedure for distribution throughout the period of preparation for the wedding by selling additional products at the right time.
This level of personalization has increased revenues by a mailing to 330%.
How to use an automated marketing to increase the constant commitment to customer?
Make a similar scheme, to determine what your customers may need at different times. This approach immediately transform your relationship with clients from a random event in a long history.
Thus, you can plan the newsletter, which will offer additional products and services at different time stages, which will be based on calls to action, such as visiting a specific page or click on the button.
- Collect the feedback to improve the product
For many companies, reviews bring greater value than profits in the short term. But only a small part of the company collects them specifically.
When a few years ago was launched MusicLawContracts.com, it was difficult to understand why so many returns. After you install the chat Olark all became clear – customers thought acquire a valid contract with the record companies … .For $ 19.99!
A pop-up window in the lower right corner helped to determine why so frequent were the refund claim.
In fact, the site offers sample contracts in the music industry. By adding the word, site owners critically reduced requests for a refund. Try to get feedback from all customers before and after the conversion!
Although this is a prime example, tell another story about the Disney website.
Disney site development team could not understand why children create very long passwords of 40 or more characters. They really thought that their results in the online games are compromised by international hackers?
As it turned out, the children have misunderstood the instructions: “password must contain at least 6 characters”, they thought that the password must contain at least 6 characters Disney name!
The main idea of this story is this: do your customers talk about your business, what you do not know.The more information you gather, the more it will be easier to improve the campaign and to find new ways to meet customer needs.
Allow your customers to tell you how you should improve them for their products.
Marketers are responsible for the development of the project at every stage of the customer life – including the period after the conversion of the base. If you pay attention to the customer experience after the conversion, you will get a lot of information for important changes to the ongoing commitment of buyers and, again, a lot of opportunities to optimize conversion.
The first step will be to increase CLV measurement of the indicator in the figures.
As Tony Robbins said: “Where we pay your attention, energy flows, and there are results.” Without careful measurement of the level of lifetime customer value (CLV), it is impossible to improve.
Now, the experiments! Experiments with an increase in volume and the amount of the purchase, marketing and personalization of all the other tips in this article. Something happens, and something there – you just have to try!