Digital Marketing News: Influencers Try Escapex, Gating B2B Content, YouTube’s Quality Watch Time, & Pinterest Conversions
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The one thing shared across all great ecommerce companies is a large, loyal customer base. The keys to building that kickass cusotmer base are well known, but easier said than done:
Acquiring new customers is top-of-mind and top-of-spend for most ecommerce companies we speak to every day. But, there’s something that we don’t see happening enough, and that’s getting the most out of each customer to accelerate growth. Focusing on building great customers, who will then in-turn help you get more new customers causes a snowball effect and accelerates your growth. That’s the 1-2 punch.
The chart below shows the amazing growth impact of repeat purchases. Getting from 1 purchase to 3.5 purchases per customer per year will drive your growth and margins–almost 20x over five years. It’s the difference between a slow growth grind and an accelerating rocket.
The reality is, you cannot do this without customer referrals or a deep understanding of your customers and their behavior allowing you to better serve them. To rely too heavily on paid customer acquisition is not sustainable.
At ReferralCandy, they think of your existing customer base as your best source of new customer acquisition. If you are an ecommerce merchant, you already know the importance of getting word-of-mouth sales on your online store. If your product is able to solve your customers’ needs and you provide them with a great shopping experience, it’s very likely that they will recommend you to their friends and family.
If you don’t have a referral program, however, there’s very little you can do to encourage your customers to keep referring you to their friends and family. Think of your customers as your best salespeople:
There are several studies proving that referral programs help business get better customers (they’re more profitable, they’re less likely to leave, and they have higher lifetime value) but you can also use them to build loyalty with your existing clients. Your customers will keep you in mind for future recommendations – but also for future purchases.
ReferralCandy makes it very easy to set up an effective referral program, reducing friction on the customer end and improving the customer experience. Choose your rewards – cash, store credit, discounts or free products, easily share your program through email and on site pop-ups and that’s it! ReferralCandy allows a scalable and highly cost effective channel to drive new customer acquisition. Once they become a customer, Alliioop enables you to drive more effective and timely engagements with your customers and increase repeat purchases.
Building a large, loyal customer base takes time and effort–and both art and science. It requires that you understand what makes customers tick–and what doesn’t. It’s not always about sending discounts and special offers, though those do work.
Referrals are one part, but you must also deliver well timed content, advice, product recommendations, as well as those special offers to add value, build appreciation and drive loyalty. That’s exactly why we created Alliioop.
Alliioop is will make you more effective in doing the two most important things for growing your loyal customer base.
Getting started and realizing results is easy with our Shopify and Facebook integrations. Plus our pre-built reports and segments come to life right after you turn it on, with these key capabilities:
Reporting: We’ve pre-built a suite of reports that will show you everything from high-level conversion metrics, to campaign performance, LTV and the details of every customer path. You get insights highlighting what you should do next to increase conversions.
Segmentation: Sending highly targeted messages requires powerful segmentation. You can segment on anything and the segments are dynamic–meaning people are added and removed from segments in real-time–not stale, static lists.
Facebook: Keeping your Facebook Custom Audiences fresh and on target is cumbersome. We automatically add and remove people from your Facebook Custom Audiences based on their behavior. This keeps your audiences fresh and your ads more on target–and effective.
Anonymous user tracking: We can show you what users did before they gave you their email address. So you get the real time-to-purchase picture and can personalize welcome messages with products they previously viewed or abandoned.
Automation: Driving all these engagements requires serious automation. Alliioop monitors all your customer behavior and triggers the engagements automatically. So as you build more granular targeting over time, we manage all the delivery so you can scale.
The key to making this work is using the 2 solutions together to maximize your growth. Take your existing customer base and empower them to refer their friends and family (after all – they get a benefit as well when they refer someone who makes a purchase) with ReferralCandy. Use Alliioop to gain insights you’ve never been able to glean before and better understand, segment and engage with your customer base. By only sending timely and relevant messaging you’ll show your customer you understand and respect them more than your competition.
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