by Jason A. Metz, Original post @ Linkedin
In the world of brand marketing, nothing is more challenging than winning a new customer. We invest untold time, effort, resources and aggravation differentiating ourselves, attracting prospects’ attention, convincing them to open their wallets and satisfying them with our product or service or message. And understandably, many brands are perpetually consumed by their quest for acquisition. So much so that they often take their eye off the real prize – retention.
Retention – or loyalty, as it’s sometimes labeled – is a completely different animal that requires a whole different set of engagement parameters. And it’s difficult, because everybody has their own unique reasons to maintain a relationship with a brand once they’ve made a purchase. But for the brand, retention is critical. In the social media age, nothing is more powerful than a positive endorsement from a genuine customer, and brands whose customers remain advocates en masse derive exponential value from their peer influence – both in terms of sales and long-term brand health and equity.
The key to retention is knowledge – knowledge about who your customer is, what makes them tick, what they like about your brand and how to tap into their own personal motivations and aspirations to keep them coming back. At Brand Influencers we call it Personalization at Scale™ (PaS) – knowing so much about the demographics, psychographics, behavioral patterns, motivational triggers and contextual tendencies of each and every customer that you can provide them precisely the experience they want with your brand through each and every interaction, investing in maintaining their loyalty for a lifetime even if there’s no immediate monetary return on investment. Because the only thing better than a repeat customer is a past customer who remains devoted to your brand long-term and continually spreads your gospel to friends and family and peers alike.