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How Smart Marketers lower their Cost per Lead Dramatically!

Are you worrying if you should allocate more of your lead generation budget to social media or company blogs?

 

Stop worrying! Read this article to learn how relationship marketing will lower you cost per lead – to keep you in business!

# Be noticed in an over communicated market

To take the subject of this article by the horns – relationship marketing. Why should you care about relationship marketing? As more and more people enter the social web and spend a lot of time on Facebook, YouTube, Pinterest, Google+ or LinkedIn, it’s getting harder for every marketer or entrepreneur to connect with their target audience. Simply, as the amount of content grows each day, the amount of lost content grows equally. So, how does your business get noticed on an over communicated social web?

Push marketing is outNot with one shot marketing messages! The old days of mass marketing PUSH messages are gone! Pushing your messages on the social web is like shooting arrows in the water; they don’t stick! Not you, but your receiving audience decides if your content is worth their valuable time. And if they value it high enough, they will most likely share it with friends.

As HubSpot says:

“…outbound marketing (businesses that push their messages at consumers) has become less effective as buyers have behaviorally and technologically (e.g., DVR, spam filters, ‘do-not-call’ lists) tuned these interruptive campaigns out!”

 

# Value your customers – focus on relationship first

Value your customersOkay, suppose you agree to put more effort in inbound marketing to pull your customers to your central hubs (website, local store, restaurant, et…). So, how do you get your audience attention – given that there’s so much noise out there pulling them each day!

Well, here’s a simple solution: create a REMARKABLE message. A message that people make a remark about! However, remarkable messages might get your business some viral visibility on a short term, it’s not a solid strategy for the long term.

Luckily you have an alternative: invest time and effort in building relationships with your audience. Keep doing that for a long time without expecting anything in return. Make them laugh or cry – wow or inspire. Share content that makes them coming back for more. The kind of content that reliefs their everyday worries, helps solve their problems or fulfills their dreams. After a while, when the relationship gets stronger – you’ll notice they even want to do business with you. Congratulations! You finally figured out how to lower your cost per lead dramatically.

 

Here are 3 simple action steps to change the course of your business today:

  1. start a business blog and/or increase the frequency of your blog posts to more than once per week (59% of companies consider their business blog “important to critical” for their business; HubSpot – The 2012 State of Inbound Marketing);
  2. dedicate most resources to social channels that have proven to be most effective in your industry (blog, LinkedIn, Facebook, Twitter, Google+, Pinterest, YouTube, etc…);
  3. know ‘the words’ your audience uses in their desperate search to solve their problems or fulfill their desires: optimize your content to increase your organic generated web traffic (Search Engine Optimization | SEO);

[According to HubSpot’s 2012 State of Inbound Marketing Report, businesses that follow these 3 action steps and dedicate resources to inbound marketing, lower their cost per lead with 50 to 60 percent!]

 

# Stick to Pareto’s Principle: 80 – 20

So, how do you lower the cost per lead even more? Here’s a simple and straightforward answer:don’t push yourself to serve every customer! Stick to Pareto’s principle  and you’ll do great: generate 80% of your sales with 20% of your customers. In other words: focus – focus – focus!

Think Niche marketing. If you focus on customers who value your weirdness (uniqueness), you most certainly will build a solid relationship. Every solid relationship thrives on passion. So, follow your intuition in the relationship and use your rational mind to track the results over time with solid KPIs (key performance indicators). Focus on those ‘weird’ customers that generate the highest revenue for your business.

Take away: if you want to stay ahead of your competition transform your marketing efforts to focus on relationship marketing! You’ll need creativity, empathy, smartness and a lot of focus to craft your social marketing strategy that thrives on solid relationships for your long term business success.

Please leave your reaction or question in the comment box below. I value my relationship with you icon smile

For more ideas on connecting with your customers, please check out our website here: https://www.c3centricity.com/home/engage/

This post was first published on Felix Relationship Marketing on February 28th 2012

When Did You Last Really Delight Someone?

Now just to be clear, I am not talking about your spouse or significant other, whom I assume you delight every day! I’m talking about your customers, consumers or clients; the ones whose satisfaction and delight makes your business grow. 

An article last year on Forbes Blogs detailed a discussion with Amex EVP of World Service Jim Bush, where he was quoted as saying “we have been taking them (customer service personnel) off the clock and tossing out the old, robotic scripts”.

He also mentioned that “we believe that great service is about what the customer thinks after every interaction”.

 

Delight or Delete

Did you know that if a customer contacts a service centre and is dissatisfied with the response they get, they are more than twice as likely to not repurchase your product or service as someone who had a complaint but did not contact the care centre? Customers who reach out to a company to complain, become fervent detractors if not satisfied by the response they get.

If they have taken the time to call, you need to do everything possible, not only to respond to their needs, but also to surprise and delight them, by “going the extra mile”, going beyond what they had expected, to solve their problem or answer their query. In this way they then become advocates and will share their experience with friends, family and even strangers over the Internet these days.

 

A personal example of ABCD Service

At the end of last year, I tested a few companies’ customer care services as I did online purchasing of my Christmas presents. One company’s products were delivered by the post office to the wrong address (an empty house) and when eventually found, the package had been completely ruined by the rain and snow.

I called the company, even though it was not directly their fault; they not only replaced the damaged goods, but sent them by first class post to ensure I got the parcel in time for Christmas. Now that is service ABCD (above and beyond the call of duty!) the story of which I happily shared with everyone over the festive season. You can be sure that I will use their services again and choose them over other suppliers in the future.

 

What more can you do for your Customers?

I wish more companies would start thinking like Jim Bush and treat every single customer as vital to the success of their business. Whenever a customer contacts you, by whatever medium and for whatever reason, you have a unique chance to engage one-to-one with them on their terms, and to surprise and delight them.

How are your own customer services personnel trained? Do they have a script to which the must adhere and targets of time or cost limitations to respond to each contact?

Here are some ideas on how to improve your Customers’ experience when they reach out to you:

  • Start by thanking the customer for having taken the time to call or write
  • Listen to everything the customer has to say before responding
  • Solve the issue if possible, or say how you are going to get it resolved, by whom and in what timeframe
  • Ask if there is anything else that the customer would like to ask or share
  • Then and only then may you invite the customer to respond to any questions that you would like to ask, if relevant, but keep it short
Please share this post with all your friends and colleagues; the more people that know how to do customer service right, the better we all will be!
Do you have any ideas on what other things you can do to turn your customers into advocates? If so please share here.

For more ideas on how to improve your company’s connection with your customers, check out our website for more ideas: https://www.c3centricity.com/home/engage/

This post was originally published September 27th 2011 on C3Centricity Dimensions

C³Centricity sources images from Dreamstime.com

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