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Keeping customers happy is a priority for any business. These days, more and more brands are now tailoring their customer experience to help keep them coming back for more. In fact, according to a study by the American Marketing Association and the University of Southern California, customer loyalty has grown as one of the most important brand-performance metrics in recent years. But that’s not always the case. With many businesses focusing on getting new customers vs keeping old ones, it’s safe to say that is something we’re seeing less of. Failure to retain customers can have significant knock-on effects on your company’s performance. Let’s take a look at why retention is so important and four essential steps you can take today to help keep your customers coming back again and again…

Why is customer retention so important?

Retaining customers involves looking at their lifetime value. The more customers you keep, the less you’ll have to invest in acquiring new ones. This is especially important for businesses that rely on a steady flow of repeat customers, like utility companies or subscription-based businesses. When you’re able to retain more of your customers for longer, you’re reaping the benefits of higher customer retention rates. Having a high customer retention rate shows that you’re doing something right. It shows that your customers are happy with your products and services. It also increases your customer lifetime value, giving you the edge on your competitors.

 

Step 1: Know your customers better than anyone else

Knowing your customers better than anyone else is imperative when it comes to helping them feel appreciated and valued. It’s also important to have a good insight into their buying habits, preferences, and general interests. Having a detailed customer insight will help you to create better products and services that fit their lifestyle needs. Investing in an effective CRM software will allow you to keep track of your customers’ purchasing habits, preferences and behaviors. This, in turn, will allow you to properly understand your target market, making it easier to retain your existing customers.

Step 2: Don’t be afraid to ask your customers what they want

Asking for feedback can go a long way not only in improving your business but also in helping you retain customers. By actively asking your customers for their feedback, it shows that you’re open to their opinions and suggestions. It also allows you to know what they want from your business. This will help you to create better products and services that your customers want. When asking for feedback, it’s important to be genuine and sincere. This will ensure that your customers are more likely to respond to your request and offer their thoughts. Another thing to keep in mind is that you shouldn’t ask for feedback too often as it may appear desperate. Instead, aim to ask for feedback at least once every six months.

Step 3: Respond to negative experiences and complaints

The best way to retain customers is to make sure that they are happy with your products and services. If a customer has a negative experience with your brand, it’s important that you respond as quickly as possible. If a customer submits a negative review, don’t panic. Instead, respond to it and apologize for their experience. If a customer contacts you with a complaint, make sure to respond quickly so that they know their voice was heard. The best way to respond to negative experiences and complaints is to apologize, offer a solution, and learn from the situation so that it doesn’t happen again.

Step 4: Reward your best customers

Rewarding your best customers can go a long way. Doing so can help to show them how much you appreciate their loyalty. You can reward your best customers in many ways. You can give them exclusive discounts, early access to new products and services, or even gift cards. You can also use loyalty programs that allow customers to earn points for every purchase they make. These points can then be redeemed for free gifts or discounts. If you use a cloud CRM solution, it’s easy to setup and manage loyalty programs. Rewarding your best customers helps to drive more repeat purchases. Customers love getting rewarded for their loyalty, so it makes them feel appreciated. It also makes them more likely to come back to purchase more products.

 

Vital Steps to Retaining Your Customers and Why It’s Crucial

Retaining customers isn’t something that happens overnight, but it’s something that can be achieved with a combination of the right marketing strategy and the right tools and technology. In order to retain your customers, you must know them well, offer them great value, and make their experience with your brand as painless as possible. The key is to go above and beyond for your customers and make them feel appreciated. When you do that, they’re more likely to come back and purchase from you again.

Customer retention experts at Cluezilla troubleshoot customer issues, come up with solutions and work to keep customers satisfied and committed by enhancing the customer experience.

New digital marketing trends emerge and old ones fall out of favor almost every day. Keeping up with these changes as a marketer is exhausting, to say the least. But while the landscape may constantly change, one thing remains constant: you need leads. To generate those all-important leads, you’ll need a B2B lead generation strategy that takes into account not only what marketers think is important right now but also whether those things will still be relevant in 2022. So, what does the future hold for B2B lead generation? Let’s take a look at some of the biggest trends we see today and how they’ll impact lead generation strategies tomorrow.

The Importance Of Data-Driven Marketing

As we discussed at the beginning of this article, changes in marketing are cyclical. The biggest shift that’s likely to have a major impact on B2B lead generation strategies is the return to a data-driven approach to marketing. During the Internet bubble of the late ‘90s and early 2000s, marketers were focused on growing their brands through the use of new technology. Technology companies were the darlings of the stock market, and marketers put their money behind tech solutions that promised quick and easy solutions to difficult problems. When the bubble burst, marketers were forced to focus on the metrics that mattered: how many leads were generated, how many sales were made, and what the lifetime value of each customer was. In the last few years, though, marketers have started to lose sight of these metrics. Social media marketing has taken off, and measurement tools like ROI have been put on the back burner.

AI and Machine Learning Will Become Standard

Artificial intelligence (AI) and machine learning will become the standard for B2B lead generation strategies. These technologies are already being used in marketing automation, email marketing, and other areas of lead generation. As they become more commonplace and more marketers become aware of their benefits, AI and machine learning will become the norm in lead generation. While they won’t necessarily replace humans in the B2B marketing process, AI and machine learning will be responsible for generating leads, managing campaigns, and analyzing data. Most importantly, these technologies will be able to respond to changing trends and customer needs more quickly than a human ever could.

Virtual Reality Will Grow

Virtual reality (VR) is already being used as part of lead generation strategies for real estate, health care, and other industries. As the technology improves and becomes more accessible, it’s likely that B2B marketers will take advantage of its unique capabilities. On one hand, VR enables marketers to create highly realistic simulations that allow users to experience a product or service as if they were using it in real life. On the other hand, it allows marketers to transport users to unique environments that may not be possible in real life. In either case, VR has the potential to make B2B marketing more immersive and engaging than ever before.

B2B Video Marketing Will Be A Major Player

Video marketing is already a major player in B2B lead generation strategies, and we expect it to become even more important moving forward. With advancements in technology, the quality of video content is increasing, and so is its accessibility. Whereas marketers used to rely on expensive equipment to produce high-quality videos, now anyone with a smartphone can create content that rivals what was once only possible with a full production crew. Video is also easier to track as it becomes more automated, making it an ideal lead-generation strategy for marketers who are focused on efficiency.

Mobile Ads Will Be Key

As social media marketing becomes increasingly important, B2B marketers will turn to mobile advertising to reach new audiences. Mobile ad spend has been steadily increasing, and we expect it to skyrocket in the next few years as more and more marketers shift their focus to phones and tablets. Mobile ad spending is expected to reach $67.9 billion in 2022, a considerable increase from its current total of $16.3 billion. Mobile ad spending is also expected to increase across all industries, so B2B marketers will have an even larger opportunity to reach their audiences through mobile ads.

Bottom line

In order to stand out in your audience’s increasingly crowded digital landscape, you need to employ the best B2B lead generation strategies. That means staying on top of the latest marketing trends and implementing strategies that take advantage of the latest technologies. With all of the changes we’ve discussed, it can be hard to know where to begin. Luckily, you don’t have to do everything at once. Start with one or two strategies, implement them well, and then expand your efforts from there.

Cluezilla specialize in offering B2B lead generation services to industries ranging from Information technology, SaaS, Healthcare, Real-estate, Education etc.

What are your conversion rates like? Are you getting a good number of leads? Is it difficult to convert them into deals? If so, you’re not alone. Every B2B lead generation campaign has its own ups and downs, but there are always ways to make things better. To convert more leads into deals, you need to understand exactly what’s working and what isn’t working with your current lead generation strategies. Then, you need to adjust your strategy in those areas that aren’t working as well as they could be. Read on to learn how to optimize your lead generation efforts for better conversion rates and more deals.

 

Define your conversion objectives

Transforming leads into customers is the best way to grow your business, but it can be difficult to know when to stop pursuing leads and start pursuing customers. You can’t satisfy every lead, and you can’t sell to every lead. It’s important to understand conversion objectives so you can make the most of your lead generation efforts and maximize your revenue. Some conversion objectives you may consider include increasing sales, increasing the number of deals, increasing average deal size, reducing sales cycle time, increasing closing rates, reducing the cost per acquisition, improving customer satisfaction, improving net promoter scores, etc. Every business has its own goals, and every campaign should have its own goals as well. By setting specific goals for every campaign, you can more easily measure success and make needed adjustments.

 

Review your lead scoring strategy

The first step in turning more leads into deals is by reviewing your lead scoring strategy. If you’re using lead scoring to track and manage leads, you may notice that some leads are falling through the cracks. If that’s the case, it’s time to retool your lead scoring strategy and bring those leads back into play. If you’re not using scoring, now would be a good time to start. Lead scoring is a simple way to organize and prioritize leads. It’s a common practice in B2B marketing for product teams to prioritize leads based on lead scores. But you can also use lead scoring to organize leads for your sales team. It’s an efficient way to prioritize leads and manage teams to ensure that the right leads are being worked on at the right time. Lead scoring can help you to turn more leads into deals. It can also help your sales team close more deals. If you’re not using scoring, or if you’re not using it effectively, it’s time to get started.

 

Improve your lead nurturing process

The next step towards turning more leads into deals is to review your lead nurturing process. You may have a significant lead score strategy in place, but you won’t turn many of those leads into deals if you’re not following up with them at the right time. Lead nurturing is the process of communicating with your leads over time. It’s done to increase your closing rates and reduce your sales cycle time. It’s a great way to give yourself more time to close a deal by helping to close leads quicker. Lead nurturing can be done in many different ways. You can send emails, send SMS/text messages, or use other communication channels to send content to your leads. By sending relevant and helpful content, you can show your leads that you’re there to help them solve their problems.

A/B test your marketing content

A/B testing is a great way to improve any aspect of your lead generation efforts. You can test almost anything, from email subject lines to the images in your blog posts. All you need to do is create two different versions of something and then let your marketing platform or software randomly assign leads to one version or the other. By testing different content, you can learn what works and what doesn’t. You can refine your lead generation efforts based on your findings. For example, if you notice that one headline is bringing you more leads than another, you can focus more on the headline that’s performing better. By refining your lead generation efforts, you’ll be able to turn more leads into deals.

Turn more leads into deals with guest blogging

Guest blogging is a common way to increase brand visibility and build backlinks. But it can also be a great way to turn more leads into deals. You can use guest blogging to drive traffic to your site and generate leads. By creating high-quality content and publishing it on a relevant website, you can attract a lot of eyeballs to your content. This can help you to turn more leads into deals. By guest blogging, you can grow your brand and generate more leads for your business. You can also help other businesses by writing for their websites. This can help you to build relationships with potential customers and clients.

Revisit your ad targeting and ad copy strategy

If you’re running ads for lead generation, you want those ads to be seen by the right people at the right time. If your ads aren’t being seen by the right people, they aren’t generating the leads that they could be generating. By reviewing your ad targeting and ad copy strategy, you can transform those ads into more lead-generating machines. You can target the right people and write the right ads to generate more leads. By targeting the right people, you can ensure that your ads reach people who are likely to be interested in your product or service. This can help you to turn more leads into deals. By targeting the wrong people, you’ll be wasting your time and money. You’ll be paying to reach people who aren’t likely to be interested in your products and services. By targeting the right people and writing the right ads, you can transform those ads into lead-generating machines.

Conclusion

Lead generation is a continuous process. The more leads you can generate, the more deals you can close. To that end, you need to constantly be working to improve your lead generation efforts. There are many ways to transform more leads into deals. You can do that by reviewing your lead scoring strategy, improving your lead nurturing process, A/B testing your marketing content, turning more leads into deals with guest blogging, and revisiting your ad targeting and ad copy strategy.

 

From b2b lead generation service to offering tips on converting maximum leads to deals, Cluezilla has evolved as one of the most reliable partner for clients across various industries.

Influencer marketing is not a trend; it’s here to stay. In fact, its influence is set to grow even stronger in the coming year. The rise of social media has led to a viral pandemic of Influencer Marketing as brands have discovered new and exciting ways to leverage the power of micro-celebrities in their marketing efforts. If you’re still on the fence about whether or not you should be investing in influencer marketing, read on to find out why so many marketers are obsessed with this strategy.

What is influencer marketing?

Influencer marketing is a type of marketing that focuses on generating sales leads and promoting your product/service through influential people. These can be celebrities with millions of social media followers or micro-influencers with a few thousand. While influencer marketing is not a new concept, the rise of social media and the ease with which micro-influencers can be discovered and engaged has led to a viral pandemic of Influencer Marketing. Unlike traditional advertising, in which companies pay to have their products featured, influencer marketing lets brands partner with people who have established followings and reputations for being genuine and trustworthy.

Why brands love influencer marketing

There are many reasons why brands love influencer marketing. Here are a few that stand out: – Convenience – Influencer marketing is scalable and can be deployed on a large scale. It can be as simple as sending a few personalized messages to micro-influencers on Instagram. – Controllability – The nature of influencer marketing gives brands control over how the message is delivered to their target audience. There is little to no risk of going off-message or being negatively received. – Cost-effectiveness – Influencer marketing has been called the most cost-effective form of marketing. Not only do brands benefit from the positive word-of-mouth that comes with being associated with influencers, but they don’t have to spend as much to get their message out. – Customer engagement – The majority of influencer marketing campaigns involve some sort of giveaway with the goal of driving engagement. The more engaged the customers are, the more likely they are to become loyal brand advocates.

How to get started with Influencer Marketing?

There are a few steps you’ll need to take in order to conduct influencer marketing successfully. – Identify the right influencers – You’ll first need to identify the right influencers for your marketing campaign. This includes researching the right platforms to find them on (Instagram, Twitter, YouTube, etc.) as well as finding a tool that can help you automate the process of finding relevant influencers. – Put together a campaign – Once you’ve identified the right influencers for your campaign, you’ll want to put together a campaign that outlines what you want the influencers to do and how you want them to do it. Don’t forget to outline the type of incentive you’ll be providing the influencers for the campaign. – Execute the campaign – Once you’ve put together your campaign, it’s time to execute it. You’ll want to work with your influencers to make sure they’re delivering on the campaign guidelines you laid out for them. – Measure and evaluate results – Finally, you’ll want to determine how effective your influencer marketing campaign was. This will help you make adjustments for future campaigns.

3 ways brands can benefit from Influencer Marketing

2 pitfalls to avoid when working with Influencers

Bottom line

Influencer marketing is a long-term strategy that requires patience, but the results are well worth it. By investing in influencer marketing campaigns, brands can expect to reap the rewards of increased brand awareness, better lead generation, and increased revenue. With the right campaign, you can also expect to see an increase in customer satisfaction as well as positive word-of-mouth from your satisfied customers.

Cluezilla helps organizations in digital branding, reputation analysis, strategy development and online reputation management.

Customer lifetime value – or CLV – is a financial metric that helps businesses understand how much profit they can expect from their customers over time. In other words, CLV is the value of your customers as opposed to the cost of acquiring them. The higher the customer lifetime value, the more profitable your customers are likely to be for your company. For example, an airline might spend several thousand dollars on advertising and reservations in order to sell a one-way ticket to an airport hotel with a nightly rate of $300 per person. If the airline has 100 new guests every night for 10 nights (at a total cost of $3,000), that’s not great from a financial perspective unless those guests return again and again as paying guests.

How to Calculate Customer Lifetime Value

The first step in calculating CLV is estimating how long your customers are going to be customers. You can do this by having a look at the average length of a customer’s buying cycle. This is the average length of time between a customer’s first purchase and their last purchase, including the time they take between those two points. Of course, this will vary depending on what sort of business you’re running. A bank, for example, might have a very different average customer lifetime than an eCommerce shop. You also need to consider what happens to customers at the end of their lifetime (i.e., when they stop being customers). Are they likely to remain loyal to your company over time? If so, you can use the average customer lifetime as the basis for your CLV calculations. If not, you may need to use a shorter average customer lifetime in your calculations.

Marketing Activities That Impact CLV

Here are some of the marketing activities that can have a significant bearing on your CLV: – The price you charge for your products – Your product mix – Your marketing spend – Your sales process – Your customer retention practices Let’s take a look at each of these in more detail. The price you charge for your products and the product mix you offer can both have a major bearing on your CLV. The more you charge for your products, the higher your CLV will be. Conversely, the lower your prices, the lower your CLV will be. Your product mix also has an impact on your CLV. The more different products you sell, the more likely it is that your customers will be buying those products at different times and therefore they won’t be making repeat purchases. Repeat purchases are the key to high CLV, so products that aren’t frequently bought can have a knock-on effect on your CLV. Your marketing spend is probably the most obvious marketing activity that impacts CLV. If you’re spending a lot of money on marketing (particularly if you’re spending that money on paid marketing), then you should expect your CLV to be lower. Your sales process impacts your CLV in a couple of ways. First, the longer it takes for you to close a sale, the lower your CLV will be. Second, if you’re selling products that are expensive, then you’ll likely have longer sales cycles and a lower CLV. Finally, your customer retention practices can impact your CLV. Retaining existing customers is likely to be much cheaper than acquiring new customers, so retaining customers can help you to increase your CLV.

Why Is Knowing Your CLV So Important?

Knowing your CLV is important for a couple of reasons. First, it can help you to manage your cash flow. If you know that a certain customer segment has a high CLV and that you’re generating a lot of profit from those customers, then it may make sense for you to extend your payment terms. On the other hand, if you know that a certain segment of customers has a low CLV and that you’re losing money on those customers, then it may make sense to demand payment upfront. Your CLV can also help you to make more informed decisions about the products you sell. If you know that your customers with a CLV of $2,000 are 80% more profitable than customers with a CLV of $1,000, then it may make sense for you to offer lower-priced products as well as higher-priced products.

What Can Cause Problems With Calculating Customer Lifetime Value?

If you’re calculating your CLV manually, then there are a couple of things you need to keep an eye on. First, you need to be careful about calculating customer lifetime based on the average customer lifetime. As we discussed above, you may actually want to use a shorter average customer lifetime if some of your customers are likely to churn away from your company. Second, you need to make sure that your calculations are based on “unbounded” lifetime values. In other words, you need to account for the fact that customers will continue to spend money with your company for longer than the average customer’s lifetime.

Estimate Your Customer Lifetime Value With A Cohort Analysis

If you’re comfortable with your CLV calculations, then the best way to estimate your CLV is with cohort analysis. A cohort analysis is a type of financial forecasting that allows you to look at customers over time. In other words, you can examine a single customer segment over an extended period of time to get a sense of how valuable that customer segment is likely to be. The first thing you need to do is divide your customers into cohorts. A cohort is simply a group of customers who share a common characteristic. For example, you might divide all your customers into the following cohorts: – New customers – Repeat customers – Loyal customers Once you’ve got your cohorts, you can use a simple cash flow analysis to get a sense of how valuable your customers are likely to be over time. For each cohort, you can calculate the expected customer lifetime value, and then add up the value of all your customer cohorts to get an overall view of your CLV.

Estimate Your Customer Lifetime Value With A Loss Equation

A loss equation is a way to estimate the long-term profitability of customers. A loss equation is basically a way of calculating CLV, but instead of assuming that customers remain profitable over their entire lifetime, a loss equation assumes that the customer will break even over time. If that sounds like a strange way to calculate CLV, that’s because it is. Customer lifetime value is a very precise financial metric that can be used to make strategic business decisions. A loss equation is much vaguer and is really only useful for getting a general sense of how much profit a customer is likely to generate. That said, a loss equation can be a helpful way to get a quick overview of your CLV without doing more detailed calculations. Let’s walk through how you’d calculate the CLV of a single customer with a loss equation. First, you need to work out how much it costs you to acquire a new customer. You can do this by calculating your customer acquisition cost. Once you’ve got that number, you can divide it by the number of new customers you acquire to get your average acquisition cost per customer. Once you know that, you can calculate the long-term profit for each new customer by multiplying your average acquisition cost per customer by the number of years that person remains profitable for your business.

Bottom Line

The ideal customer lifetime value (CLV) is a combination of a few metrics: customer lifetime, average order value, and the cost to acquire a new customer. For example, if a new customer spends an average of $50 per order and the company spends $40 on advertising to acquire a new customer, then the CLV is $200. For businesses to be profitable in the long run, they must maintain a CLV that is greater than their cost to acquire a new customer.

Analyzing market trends to engaging customers by understanding their behavior, Cluezilla works with companies in customer retention and growth planning services.

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