Nurture Your Prospects and Customers
$1 spent on nurturing is worth $3 on acquisition
You spend a great deal of time and effort acquire customers — often at razor-thin or event negative margins — to secure that first buying experience. For most organizations, first-time buyers do not prove profitable until subsequent purchases follow, and up to 97% of visitors never become customers at all.
Whether you think of it as nurturing, re-engagement, re-marketing or loyalty programs – the idea of engaging and re-engaging your customers to get them to buy more, and re-marketing to prospective customers who have exhibited interest but not yet purchased should be top of mind for most marketers.
Why? Because it’s super-effective. From a revenue and margin perspective, spending one dollar on nurturing is as effective as spending three dollars on acquisition.
Omni-channel nurturing tactics that deliver
The key to successful nurturing is to engage the consumer in ongoing, relevant conversations over time. Spamming them with generic promotions just turns them off. You need to re-engage using display advertising to get the broadest possible reach and deliver relevant, personalized 1:1 conversations in email for those consumers who’ve trusted you with their email addresses.
The most important thing of all is to be truly customer-centric – to provide consumers with products, services and offers targeted just for them, based on their unique behavior, desires and needs. If you do this, you’ll find that your campaign performance actually increases over time – because your customers begin to develop trust in your recommendations.
Among the most effective tactics are proactive consumer alerts based on changes in your catalog, offers or pricing. You can proactively notify consumers via display advertising and email when you begin selling new products that they are likely to be interested in, or when you have pricing or promotion changes. For most organizations, this type nurturing the most profitable single campaign you can run.
You can also nurture with timely, personalized cross-sell offers. Cross-selling within two weeks of the initial sale can be a key catalyst in driving that critical second purchase. Or you can replenishment offers for consumable and perishable products, delivered in concert with the consumer’s unique usage patterns for different types of products.
That loving feeling – really works
MyBuys has helped hundreds of organizations deploy comprehensive nurturing programs – using the tactics above plus many more. The results are remarkable – 200% better than spending the same marketing funds on acquisition, greatly improved margins, and up to 300% increases in customer lifetime value.
Contact us today and you too can be reaping the benefits of Customer-Centric nurturing – in as little as 30 days.
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