The concept of retention marketing
Retention marketing means marketing to attract and retain customers, marketing in line with customer retention, and marketing with the approach and purpose of creating repeat purchases from the customer.
If we want to say the place of return marketing in marketing, we must first refer to the concept of the sales funnel. This famous model says, in order to go through marketing processes, the customer goes through a process that can be compared to a funnel; Because this path has several stages and sections, as we go from each section to the next section, the number of our users will drop and continue to decrease.
For example, in the first stage, you face 100 thousand people, in the next stage you have a drop and, for example, it will be 60 thousand people, and so on.
The first stage is the brand awareness stage. You inform some target market and contacts about the existence of your brand. The next step is Consideration. At this stage, the audience, or a part of the audience, will consider your brand and will have some of their options and think of you.
What is clear is that when you have a number of people in the brand awareness stage, and you introduce your brand to them, 100% of them will definitely not consider you. So here we see a drop.
After consideration is the stage of Acquisition, which is customer attraction. It means that some of those people who considered you, come and get services from you or buy products from you. Again, it is clear that only a part of those people who have considered you will become your customers.
The next stage is the Retention stage, in which the position of Retention marketing is determined. Retention is a part of the customer roadmap were some of those customers who you attracted and made the first purchase from you, make repeated purchases. That is, if you are an online business, they will stay in your system, and if you are offline, they will buy your product again and again and remain your customer. Of course, we will have a fall again compared to the previous stage.
Finally, the next step is Loyalty. Part of those customers who made repeat purchases from you will become loyal to you. Some of those customers who were in the Retention section are called Retain and make the second and third purchases at time intervals. But only a part of them become loyal and keep buying from you, introduce you to the people around them, love you, accept you, recommend you, etc.
From this marketing funnel, the position of Retention is desired in this article. What do we need to do to keep customers on our platform and buy from us again and again? How can we make the customer we attract not a one-time purchase customer and be able to keep him?
The importance of return marketing in customer retention
The cost of acquiring each new customer (CAC), especially in startups, is high cost; Because a startup has an innovative and new business model and product, it should probably spend a lot of energy on digital marketing to make the product known. For example, currently, startups that operate in the field of on-site car services, such as Carboy and Hubcap, have customers who are not used to this type of car service, and on-site car service is a new thing for them. As a result, you have to pay to position your service and convince customers that these services can be obtained online and on-site, saving time and money and ensuring the level of quality.
Usually, the cost of attracting each customer is higher than the profit margin that the first purchase of each customer will have. That is, for example, if the average cost of attracting each customer is 20 bucks, the profit margin you get from each order will be 13 thousand bucks. Therefore, so far, you are only at a loss with the first purchase from each customer, and this margin of profit will only occur if that customer repeats the purchase, and this is the main importance of return marketing.
With your good performance in return marketing, you try to get the customer to make a second and third purchase, etc., and so to speak, make the lifetime value of each customer more positive, so that the customer finally becomes profitable for you. In some industries, some users must make a third or fourth purchase in order to achieve profitability, and if a user does not make this purchase, attracting that user was a mistake on the part of that startup.
We said that the cost of attracting each customer is very high, but fortunately, the cost of maintaining and maintaining that customer is not that high. A series of indicators such as the average cost of retention is available to check the cost, which means the average cost that we do to create repeat purchases in customers.
Return marketing tactics and tools or retention marketing
Email marketing
an important example of a tool that can be mentioned, is email marketing, which is very useful to bring customers back to your site. We may receive emails from users when they make a purchase from us or when they install our app or when they create an account or when they subscribe to our newsletter. After receiving the e-mail addresses, send them e-mails on our behalf so that they return to our system and receive services from us. Similarly, you can get a mobile number and use SMS marketing to encourage them to come back and visit our website or app.
Sending push notifications
Push notifications are another tactic that plays a significant role in this matter. When a user comes to our site and installs our application, with their permission, you can send them a notification, which will be received by them through a desktop or mobile browser, or through the application. These notifications make the customers visit the website again. For example, because of the new content that we have published in the blog, because of the new items or new features that we have added to the system, because of the campaigns or offers that we have, or the discount codes that we provide.
Customer Club
the club is the next tactic of the customer club. Customer clubs are tools that help us in terms of retention and returning customers to the system and repeat purchases.
Social media marketing is the next tactic of social media marketing. In fact, directing users and customers to our social networks and encouraging them to follow us is effective in return marketing. When a user follows our Instagram page, he is more engaged with our brand, and when he needs our service or product, we will be his Top Of Mind, and in this case, instead of checking again What options are available immediately comes to us.
Message Boxes
using In-app Messages is another one of these tactics. Inside some applications, there are sections under titles such as messages or message boxes, where messages are sent to you to encourage you to return to the application.
Content Marketing
Content Marketing is a very important tool that is very useful in the field of return marketing. With valuable content that you publish on your blog, you can expect customers to return to your site and perhaps the result will be repeat purchases.
Conclusion
Rebound marketing is an effective strategy to bring customers back and turn them into loyal customers. The low cost of this strategy and its uncomplicated methods will help you to easily incorporate it into your plans. The variety of retention marketing techniques allows you to use the technique that will be most effective for your business.
What is retention marketing?
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Preface:
We suggest that you read what is digital marketing before reading this article. This article talks about Retention Marketing. A topic that remains neglected in digital marketing, but it is very important. In this article, we will talk about what Retention Marketing is.
The concept of retention marketing
Retention marketing means marketing to attract and retain customers, marketing in line with customer retention, and marketing with the approach and purpose of creating repeat purchases from the customer.
If we want to say the place of return marketing in marketing, we must first refer to the concept of the sales funnel. This famous model says, in order to go through marketing processes, the customer goes through a process that can be compared to a funnel; Because this path has several stages and sections, as we go from each section to the next section, the number of our users will drop and continue to decrease.
For example, in the first stage, you face 100 thousand people, in the next stage you have a drop and, for example, it will be 60 thousand people, and so on.
The first stage is the brand awareness stage. You inform some target market and contacts about the existence of your brand. The next step is Consideration. At this stage, the audience, or a part of the audience, will consider your brand and will have some of their options and think of you.
What is clear is that when you have a number of people in the brand awareness stage, and you introduce your brand to them, 100% of them will definitely not consider you. So here we see a drop.
After consideration is the stage of Acquisition, which is customer attraction. It means that some of those people who considered you, come and get services from you or buy products from you. Again, it is clear that only a part of those people who have considered you will become your customers.
The next stage is the Retention stage, in which the position of Retention marketing is determined. Retention is a part of the customer roadmap were some of those customers who you attracted and made the first purchase from you, make repeated purchases. That is, if you are an online business, they will stay in your system, and if you are offline, they will buy your product again and again and remain your customer. Of course, we will have a fall again compared to the previous stage.
Finally, the next step is Loyalty. Part of those customers who made repeat purchases from you will become loyal to you. Some of those customers who were in the Retention section are called Retain and make the second and third purchases at time intervals. But only a part of them become loyal and keep buying from you, introduce you to the people around them, love you, accept you, recommend you, etc.
From this marketing funnel, the position of Retention is desired in this article. What do we need to do to keep customers on our platform and buy from us again and again? How can we make the customer we attract not a one-time purchase customer and be able to keep him?
The importance of return marketing in customer retention
The cost of acquiring each new customer (CAC), especially in startups, is high cost; Because a startup has an innovative and new business model and product, it should probably spend a lot of energy on digital marketing to make the product known. For example, currently, startups that operate in the field of on-site car services, such as Carboy and Hubcap, have customers who are not used to this type of car service, and on-site car service is a new thing for them. As a result, you have to pay to position your service and convince customers that these services can be obtained online and on-site, saving time and money and ensuring the level of quality.
Usually, the cost of attracting each customer is higher than the profit margin that the first purchase of each customer will have. That is, for example, if the average cost of attracting each customer is 20 bucks, the profit margin you get from each order will be 13 thousand bucks. Therefore, so far, you are only at a loss with the first purchase from each customer, and this margin of profit will only occur if that customer repeats the purchase, and this is the main importance of return marketing.
With your good performance in return marketing, you try to get the customer to make a second and third purchase, etc., and so to speak, make the lifetime value of each customer more positive, so that the customer finally becomes profitable for you. In some industries, some users must make a third or fourth purchase in order to achieve profitability, and if a user does not make this purchase, attracting that user was a mistake on the part of that startup.
We said that the cost of attracting each customer is very high, but fortunately, the cost of maintaining and maintaining that customer is not that high. A series of indicators such as the average cost of retention is available to check the cost, which means the average cost that we do to create repeat purchases in customers.
Return marketing tactics and tools or retention marketing
Email marketing
an important example of a tool that can be mentioned, is email marketing, which is very useful to bring customers back to your site. We may receive emails from users when they make a purchase from us or when they install our app or when they create an account or when they subscribe to our newsletter. After receiving the e-mail addresses, send them e-mails on our behalf so that they return to our system and receive services from us. Similarly, you can get a mobile number and use SMS marketing to encourage them to come back and visit our website or app.
Sending push notifications
Push notifications are another tactic that plays a significant role in this matter. When a user comes to our site and installs our application, with their permission, you can send them a notification, which will be received by them through a desktop or mobile browser, or through the application. These notifications make the customers visit the website again. For example, because of the new content that we have published in the blog, because of the new items or new features that we have added to the system, because of the campaigns or offers that we have, or the discount codes that we provide.
Customer Club
the club is the next tactic of the customer club. Customer clubs are tools that help us in terms of retention and returning customers to the system and repeat purchases.
Social media marketing is the next tactic of social media marketing. In fact, directing users and customers to our social networks and encouraging them to follow us is effective in return marketing. When a user follows our Instagram page, he is more engaged with our brand, and when he needs our service or product, we will be his Top Of Mind, and in this case, instead of checking again What options are available immediately comes to us.
Message Boxes
using In-app Messages is another one of these tactics. Inside some applications, there are sections under titles such as messages or message boxes, where messages are sent to you to encourage you to return to the application.
Content Marketing
Content Marketing is a very important tool that is very useful in the field of return marketing. With valuable content that you publish on your blog, you can expect customers to return to your site and perhaps the result will be repeat purchases.
Conclusion
Rebound marketing is an effective strategy to bring customers back and turn them into loyal customers. The low cost of this strategy and its uncomplicated methods will help you to easily incorporate it into your plans. The variety of retention marketing techniques allows you to use the technique that will be most effective for your business.
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