customers Archives - Page 6 of 26

October 30, 2024

Incredible benefits of IVR technology: I

As mentioned earlier IVR technology refers to an automated telephony system that interacts with callers, gathers information and routes calls to the appropriate recipient. IVR is a simple and efficacious system that will significantly reduce costs and increase efficiency within any company. It has to offer a number of benefits to the organizations employing it. Some of those benefits have been listed below:

1. It helps attain valuable information about your customers:

IVR technology helps collect information about customer’s needs and transfer calls to the most appropriate agent or department depending on their IVR input. Making use of technology to direct calls, reduces the probability of the caller being transferred to the wrong agent or department, hence, increasing the efficacy of the entire system.

2. It aids in an increased productivity:

Directing callers to the perfect department or agent to address their issues exempts the wastage of time. It also means that there won’t be any sort of confusion in finding the right answer or transferring the caller around for a query resolution. Thus, it would lead to more problems being solved in lesser time.

3. It has a provision for personalized greetings:

IVR technology allows you to record any sort of personalized greeting you want, and include the appropriate prompts to transfer callers to the corresponding department.

4. It exempts any sort of errors:

Since an IVR system does not require a receptionist for answering your calls, so, there is no chance that in the hundreds of calls received daily, a couple of them will wind up in the wrong place. Error exemption is yet another benefit provided by an IVR auto attendant.

5. It allows the usage of pre- recorded messages:

Its not always preferable to use your own voice on the IVR. In such cases, you can use pre-recorded IVR messages to make your task easier.

October 30, 2024

Tips to reduce average handle time: III

1. Encourage agents to provide top- notch service:

Average handle time boosts up in cases where many customers are waiting on hold. Reasons responsible may be that agents get exhausted handling call after call and hence, slow down. This leads to customers’ dissatisfaction and hence frustration. Therefore, it needs to be dealt appropriately. One of the most efficacious method of doing so is to encourage agents to take breaks between calls and get refreshed from time to time.

2. Leverage call control:

Call control is a skill and can be taught to the customer support agents through specialized training. The nature of calls being received at a call center is heterogeneous. In other words, the content of a call may vary from customer to customer such that, while some might come straight to the point, others might go into irrelevant details before they come to the reason for their call. Therefore, it is extremely important for agents to remain focused and encourage customers to get back to the real point. Call control is a skill and can be taught and trained.

3. Make the most out of experienced customer reps:

As a matter of fact, nothing can beat the real, on-ground experience. Therefore, processes should be established leveraging the inputs of the most experienced customer service agents. Valuable experience can actually let the newbies know about the popular shortcuts and workarounds to achieve a target. On the other hand, managers should identify those agents who have a low AHT and discover what tactics they employ. Thereafter, these agents should be held as role models and be encouraged to share practical tips with others so as to improve their efficacy as well.

4. Access AHT data carefully:

As mentioned earlier, the nature of calls being received at a call center is heterogeneous. A variety of calls can be encountered there like some deal with billing while others may be related to accounts or general queries. As a matter of fact, AHT for all these are different, and thus an agent’s performance should take into consideration the nature of call handled by him or her. Therefore, the result for AHT should be analyzed accordingly. Similarly, if the marketing strategies or management decisions change, the impact should be calculated accordingly.

October 30, 2024

Tips to reduce average handle time: I

Average Handle Time (AHT) refers to a call center metric that calculates the average duration of contact between a customer and an agent. This includes both hold time and talk time.

The formula for calculating AHT is:

Average Handling Time = (Total talk time + Total hold time + Total wrap-up time) /Number of calls handled

A low AHT indicates a good performance, while a high AHT signifies that the call handling technique needs improvement. Here are some effective tips that help reduce the average handle time to a large extent:

1. Set up regular training sessions for customer support agents:

Customer support agents should have a thorough understanding of the company’s products and services so that they are able to contribute towards conversions and also resolve queries instantly. Agents should be trained at frequent intervals in order to help them reduce AHT. This training should include educating them about the usage of the contact center software and tools such as CRM and chat to ensure that the call is answered in the lowest time possible leaving the customer satisfied. Moreover the agents should also know whom to contact in case of any doubt and from where to extract any relevant information.

2. Record all inbound and outbound calls:

Recording every inbound and outbound call makes it easier to assess the productivity of an agent and other issues that might affect his or her output. This can also be helpful in case managers are not able to review calls in real time such that they can always refer to the recorded version and get the desired insights. Moreover these calls can be leveraged to train the customer support agents and improve their performance. Making them listen to some of the good examples of calls wherein the customer’s problem was resolved and the handling time was less can help them learn valuable tactics for reducing AHT.

3. Tailor agents’ workflow and processes:

Tailoring agents’ workflow and productivity can help optimize their productivity. Managers should work hard to spot inefficiencies and work out strategies to eliminate them thereafter. One of the best method of doing this is automating all their manual tasks so as to minimize their busy time and hence reduce AHT.

October 29, 2024

Benefits of co- browse technology: III

1. Increased grade of customer engagement:

An increased grade of customer engagement is one more benefit offered by co- browse technology. Co-browsing teaches customers how to do things rapidly and effectively. Moreover, proactive invitations to shop together drive customer engagement, giving agents the ability to make offers, answer questions, and provide the help needed to close more sales as actively engaged customers convert. Co-browsing feature is of potential use to serve the customers that aren’t tech savvy.

2. Boosted e-commerce sales:

Co- browsing is not just meant for instant query resolution or instant guidance through the purchase process. In fact, agents engaged in a co-shopping session can be trained to up-sell, cross-sell, and encourage opt-in for future sales opportunities. These offers may include joining a mailing list, connecting on social media, subscribing newsletters and more.

3. Identify the weak points and help in customer service improvement:

Co-browsing can actually be used to monitor or keep a track of customer queries through screen shots of issues. These screen shots can be used for knowledge base, training, or bug fixes. It helps companies maintain real-time visibility into the customer experience and further assist in improving the customer service.

4. Enhanced buyer experience:

According to a study conducted by Forester, co-browsing has the highest customer satisfaction ratings of any customer support tool. The study shows that live-assist communication channels like phone, chat, co-browse have much higher satisfaction ratings than asynchronous electronic channels such as email, web self-service. Satisfaction ratings as stated by the above mentioned study are as follows: phone (74%), chat (69%), co-browse (78%), email (54%), and web self-service (47%). Thus, the study clearly proves that with co-browsing the customer achieves another level of customer service. Many a times it is seen that the customers ask the agent to co-browse because they understand that co-browsing will easily resolve the issue that too faster.

October 29, 2024

Benefits of co- browse technology: II

1. Long term adoption of self service tools:

Showing customers how to utilize self service tools leads to the long term adoption of self service tools which is yet another benefit of co- browsing. It is extremely beneficial when:

i) a company is launching new online tools or updating existing tools or procedures

ii) when specific customer segments are having trouble using online tools

iii) when white-glove service can be provided to top-tier customers.

2. Differential customer service experience:

These days customers ask to co-browse when they contact an agent because they know co-browsing allows them to get help instantly and conveniently. In other words, co- browsing creates a differentiated customer service experience. This exempts the risk of losing customers and results in returning customers. Hence it improves your business performance.

3. Customer service agent satisfaction:

There is a possibility of agents being frustrated when customers articulate issues and agents are required to verbally direct the customer to perform actions online. Thus, providing the agents with technologies such as co- browsing reduces this frustration and leads to an increased efficiency of customer support. Moreover, agents appreciate being given the tools they need to be more efficient and productive so they are able to meet their performance goals.

5. Reduced call handling time and improved efficiency of customer support system:

Co-browse technology helps in the reduction of call handling time. As a matter of fact, the less call-handling time agents will take, the more level of customer service they will provide. Thus, co- browsing promotes efficiency by enabling agents to handle issues more quickly and accurately. It can also be used as a real-time live training tool to help on board new agents and familiarize them with the customer experience quickly and efficaciously. The customers also get satisfied as they get faster resolution and the agents save their time.

October 29, 2024

All you need to know about co- browsing

Co-browsing, in context of web browsing refers to joint navigation through the world wide web by two/ more people accessing the same web pages at same time. Complete co-browsing supports automatic synchronization of the browsers’ state and content, including frames, portlets, or even content of the form fields and controls. Various tools are employed for this purpose some of which can even identify complex media objects such as audio and video players and offer capability of synchronous playback with start/pause/stop functionality.

Co browsing is a short form of collaborative browsing. It is a software-enabled technique that allows someone in an enterprise contact center to interact with a customer by using the customer’s web browser to show them something. In case of a B2B scenario, it can actually be used ease out the complex purchasing process for the customers. For instance, a B2B customer facing difficulty placing an order could call a customer service representative who could then show the customer how to use the ordering pages by sharing screen on the desktop or whatever device is being used. Collaborative browsing may include e-mail, fax, regular telephone, and internet phone contact as part of an interaction.

Co-browsing has so far evolved to support a full user web experience. It has come up as a great tool for customer service and support teams. You need to keep the following points in your mind while considering a co- browsing solution for your business:

i) co-browsing solutions must be offered in a seamless manner irrespective of the communication channel the customer initiates the conversation from.

ii) solutions that cannot share critical information that exists outside of the browser will inhibit the experience your customers expect.

iii) co-browsing technology that mandates tagging each and every page that a customer may want to share may be a technical challenge and, in many cases, not feasible.

iv) co-browse solutions that share a browser experience may help with simple web page based content but are not capable of extending to view the rich content on every web page, so make sure that all viewers are seeing the same and synchronized content

October 29, 2024

Your guide to omnichannel customer service

Omnichannel refers to a cross-channel business model that companies employ to increase customer experience and improve the quality of customer service. This approach has verticals in healthcare, government, financial services, retail and telecommunications industries, including channels such as physical locations, FAQ webpages, social media, live web chats, mobile applications and telephone communication. Companies that utilize omnichannel contend that a customer values the ability to be in constant contact with a company through multiple avenues at the same time.

Previously customers expected to receive service from an organization on the channel of their choice. Thus companies employed multi-channel customer service technique which made use of voice, email, SMS/text, web, mobile or social media. Omnichannel customer service takes the multi-channel customer service to the next level as with an omnichannel solution that integrates channels to provide a consistent customer experience.

Multichannel customer service — Multi-channel customer service

As far as the customers are concerned, channel is the least important matter of concern for them. What’s important for them is finding an answer to their question or a solution to their problem. For this purpose they may reach out via voice, mobile website or over a social media channel like Twitter. In today’s era, as more consumers adopt mobile devices, the lines between channels tend to blur. As a result, customer expectations for the convenience of starting a conversation in one channel and then continuing in another, become even higher.

Omnichannel self-service is a solution to such high end expectations of the customers. It empowers the customer to initiate an activity in one channel, and seamlessly transition to another such that a conversation that begins on Twitter can be continued via text message or phone call with all of the relevant context preserved across channels. Omni-channel solutions don’t require implementing every possible channel and it also ensures the service level, responsiveness, and quality of service received on individual channels and across channels would be exceptionally high.

October 28, 2024

Strategies for generating B2B leads online: II

1. Content Marketing:

Content marketing refers to the marketing focused on creating, publishing and distributing content to online targeted audience.It is a crucial element for B2B lead generation. It is often used by businesses in order to attract attention, generate leads, expand their customer base, generate online sales, increase brand awareness or engage an online community of users. While pursuing content marketing, the main focus of the businesses should be the needs of the prospect or customer.

Once a business has identified the customer’s need, information can be presented in a variety of formats, including news, video,white papers, e-books, infographics, email newsletters, case studies, podcasts, how-to guides, question and answer articles, photos, blogs, etc. The appropriate type of content for any business will depend on the business’ goals and target customer.

2. Search engine marketing:

Search engine marketing includes both paid search results (using tools like Google Adwords or Bing Ads, formerly known as Microsoft ad-center) and organic search results (SEO) and plays a crucial rule in B2B lead generation. It includes the following steps:

Keyword research and analysis: It involves ensuring the site can be indexed in the search engines, finding the most relevant and popular keywords for the site and its products, and using those keywords on the site in a way that will generate and convert traffic.
Website saturation and popularity: It means how much presence a website has on search engines, can be analyzed through the number of pages of the site that are indexed by search engines (saturation) and how many back links the site has (popularity).
Back end tools: These include Web analytic tools and HTML validators which provide data on a website and its visitors and allow the success of a website to be measured.
Whois tools: They reveal the owners of various websites and can provide valuable information relating to copyright and trademark issues.
Google Mobile-Friendly Website Checker: This test will analyze a URL and report if the page has a mobile-friendly design.

October 28, 2024

Top factors that cause cart abandonment: II

1. Costly products:

Extremely high cost of products is also a reason for cart abandonment. If your products are costly, people will not buy them. In other words, if you are driving up the prices, the users may look elsewhere or consider buying it for less elsewhere.

2. Discount coupons

Discount coupons may not always lead to sales because when a website has discount coupons or promotional offers, the users go in search of the coupon code and come back only if they find one.

3. Forced registration:

It is true that the more information you have about a client, the better you can market and deliver your products to them. moreover, registered users are more likely to visit the site again and develop loyalty. However, many commerce stores try to get this information through a forced registration. Not all are willing to register, so, the sites that do not allow the users to buy goods as guest visitors see a high rate of shopping cart abandonment.

4. High or late listed shipping prices:

In today’s era, people buy online so that they can get the goods delivered at their doorstep and also get a discount at the same time. But high shipping costs increase the price and may even drive the customers away. In many cases, websites try and get the customers interested in a product and once they have placed a product in the shopping cart, they cleverly add the shipping cost to the total cost.

5. Complex checkout process and lack of payment options:

As a matter of fact, the checkout process is required to be as simple, smooth and quick as possible. Making a user fill out too many forms will make him/ her abandon the cart and leave. On the other hand, there are customers who want to buy products but are forced to abandon the carts because the e-commerce website doesn’t make provisions for their convenient method of payment.

October 27, 2024

Tips to increase conversion rate: II

1. Provide transparency:

Today’s consumers know when you’re being transparent and when you’re covering up for a defect with colorful or manipulative language. So, if you wish to increase your conversion rate, instead of trying to sugar coat things to sell your product, be straightforward about it. Mention precise, honest bullet points about the uniqueness and advantages of your product. The more honest and upfront you are, the better the transparency that you provide to your customers and higher the level of their trust in you.

2. Develop trust:

Once you provide transparency to your customers you have already developed some amount trust in your customers. Another means of increasing website credibility is by providing third-party support which includes citations, testimonials, articles in well-known publications, source material etc for the information you present, especially if you link to this evidence. This is a way of showing confidence in your material. Further listing a physical address, posting a photo of your offices or listing a membership with the chamber of commerce, making your contact information clear are some other techniques of increasing website credibility. Moreover, you can make your site easy to use by avoiding ads on your site. If you must have ads, clearly distinguish the sponsored content from your own. Also, try to keep your site fast, up and running.

3. Keep it simple and enticing at the same time:

Researchers have proved that sight is the strongest sense, so, instead of writing about your product, include a video or image-based demonstration of what it is and how it works. Visuals always make it easier to sell, so, leverage the power of visuals to increase your sales. But you need to avoid aggressive popup ads, flashing lights, or tons of exclamation points to make a good case for conversion. These things may drive the users away. You need to know that the simpler your design and offers are, the more likely your customers will be willing to convert.

October 26, 2024

Inbound marketing strategies to grow your business: II

1. Email opt-ins:

An email list is an important aspect of inbound marketing and one of the most crucial factors in building a business and growing it thereafter. Opt-in email is a term used when someone is given the option to receive email and is some sort of mailing list, newsletter, or advertising. Without obtaining permission before sending email, the email is spam. Email opt-ins are categorized as:

i) Unconfirmed / single opt-ins:

Someone first gives an email address to the list software, but no steps are taken to confirm that this address belongs to the person submitting it.

ii) Confirmed opt-ins:

A new subscriber asks to be subscribed to the mailing list, but in this type of opt- in steps are taken to confirm that the address provided belongs to the person submitting it.

Opt- ins

2. Personal branding:

Personal branding refers to the practice of people marketing themselves and their careers as brands. Personal branding is essentially the process of establishing a prescribed image or impression in the mind of others about an individual, group, or organization and often involves the application of one’s name to various products. When someone starts a business, it’s virtually impossible to separate oneself from that business. So, a personal brand can actually be used to build that business. Brands such as Tim Ferriss’s and Ramit Sethi’s depend almost exclusively on the power of their personal brand.

Personal branding

3. Free guides and reports:

You can actually create advanced guides and give them away for free. You just need to make sure that the guide is relevant to your business. So, you are required to keep your guide as specific as possible, because you are using it to gain a certain type of visitors such as the ones who will convert to become your customers. These guides can actually be used to showcase your expertise in your work and to provide other marketers with valuable information that can help them in growing their business.

Free guides and reports

October 25, 2024

Inbound marketing strategies to grow your business: I

Inbound marketing refers to the technique of drawing customers to products and services via content marketing, social media marketing and search engine optimization. Inbound marketing provides information, an improved customer experience and builds trust by offering potential customers the valuable information they desire via company sponsored newsletters, blogs, and entries on social media platforms.

We have mentioned a number of inbound marketing strategies to grow your business:

1. Leverage the power of keywords:

In order to rank higher in SERPs you need to identify the most relevant keywords and optimize your content accordingly. This will help you to successfully gain traffic for relevant keywords if you use those keywords on your site. So, you need to focus on keywords, specifically long tail keywords that are important. Having a quality website and content optimized for SEO ensures that Google’s web-crawling technology is able to identify and index your site’s content to have it appear for free to people searching and rank higher in the search results.

2. Social media interaction:

This is an era driven by social media. These days, potential customers find companies, follow those companies, and interact with those companies.Since there are real people behind every like and share, so, in order to connect with those people, you need to ask questions, answer questions, respond to tweets, and be a presence. Each of these social mentions provide an opportunity for your business to interact with the mention, thereby increasing its brand image and its reach into other social networks as well.

3. Use guest blogging:

Guest blogging is a new way to promote your web blog or website. In this strategy you may post your article or blog on others blog by getting their permission. Guest Blogging is used by bloggers to increase traffic for their blog by posting published blog on other blogger’s blog.

October 24, 2024

Tips for an effective online chat: II

1. Transfer chat sessions when required:

Since individual agents may have different areas of expertise, so, provide them with a list of other agents and their levels of expertise. This helps in cases where a chat agent is involved in a conversation that has got to do nothing with his current level of expertise. Such that, without much ado, he quickly transfers the chat to another agent ensuring that the customer is aware of the transfer.

2. Make use of typing indicators:

Your live chat software should include typing indicators. It should enable the agents to see a customer’s words as they type, and issue an alert when the customer has hit the “send” button. This feature gives the agents insight to what the customers are thinking as they type and also allows the respective chat agent to respond quickly without making the customer wait for long time periods. The alert should be audible, visible, or both such that it lets the agent know that a customer is awaiting a response.

3. Program targetted pages to raise chat offer:

As a matter of fact, just raising the offer to chat is enough to convey a sense of goodwill. Allow customers to browse on your site for a time before raising the offer to chat. Identify a list of target pages where you want to increase the conversion rate, and program them to automatically raise the chat offer after a period of 30 – 60 seconds such that the customers get enough time to be oriented for the chat.

4. Create a set of professionally designed canned messages:

Customers should be greeted professionally when they arrive within a live chat conversation. Professionally designed canned messages can be employed for this purpose. Carefully worded standardized canned messages can be used to automate parts of the conversation and augment your professional profile in order to greet the customers with courtesy.

5. Employ CRM tool along with online chat:

All your chat agents should have access to customer sales records. Integrating online chat with CRM tool allows them to update the CRM records at the end of a chat session.

October 24, 2024

Tips for an effective online chat: I

These days customers are increasingly using live chat as a communication channel to interact with websites to get instant help in case of any queries. Here are some tips to leverage online chat in order to reassure lead nurturing:

1. Offer a copy of the transcript to the customers:

Customers contact the live chat agents so that their queries are resolved instantly. The whole chat process provides them with valuable information. But, most people don’t record every conversation so this information can get lost or can be rendered futile. So, provide your customers with transcripts at the end of live chat sessions.

2. Include chat button in email campaigns:

This feature allows your customers to provide direct feedback on questions they may have regarding the email they’ve received from you. Emails could be anything from periodic newsletters or follow-ups to individual questions or grievances and embedded chat button along with it provides an ease of instant query resolution.

3. Provide chat agents with previous chat transcripts:

Providing your chat agents with a chat history for returning visitors allows the agents to come up to speed on issues that the customer discussed previously, and to proactively follow up with any questions. This will hasten up the live chat process and customers will appreciate the fact that they don’t have to repeat their previous problems to newly assigned chat agents.

4. Initiate an automatic response:

The only way to guarantee a quick response is to accept all incoming chats immediately. Once a customer initiates a chat session, the system should accept the chat automatically and convince the customer that a chat agent will respond shortly. Pre-canned messages can be used to welcome the customer and let him know that action is taking place immediately.

5. Inculcate pre-chat survey forms:

Pre- chat survey forms allow customers to set the direction of the conversation. They include questions that allow your chat agents the necessary background so they can provide a quick and courteous answer. The pre-chat survey forms also allow you to quickly route the chat session to the agents who are most qualified to handle the respective conversations.

October 23, 2024

How to increase customer lifetime value : Part III

1. Let your customers know how much you appreciate them:

Fans who show their loyalty every now and then by sharing your content on social media deserve to be rewarded, right? So, you can actually embed social media posts from fans who have shared your content or said something great about your brand to their followers. Put them in the spotlight and let them know how much you appreciate them and their efforts. They’ll make your brand a priority, once they see the reciprocity, The most common example is that of Soda Stream.

2. Send surprizes to your fans:

Who doesn’t like surprises? So, make it a point to send surprises to your fans so as to show your gratitude. Take a look at their social accounts to see what kinds of things they are fond of, and then send them something you know they’ll love. They’ll definitely share this experience with their friends, family, colleagues, and anyone else who will listen. Make sure that you do a little research and find something unique or, at the very least, different from what most people are talking about rather than sending something obvious.

3. Provide full experience to active customers:

This means keep your fans updated with your products and services. For example, if you have a product line, send them something they aren’t familiar with. If you have a premium service, give them the upgrade free of cost. This is truly the most effective way of increasing the customer lifetime value.

4. Acknowledge your customers’ suggestions:

Convince your customers that their suggestions are always welcomed. For this, always leave room for your customers to make suggestions that you didn’t list, and always offer some kind of incentive for participating in the poll. Even if it’s just a chance to win something small like a gift card or early access to an upcoming feature, it will make a huge difference in the number of people who actually participate.

5. Help your customers with their interests:

You can help customers do something they love. If possible, you may start “sponsoring” customers’ things that they are compassionate about.

October 22, 2024

How to increase customer lifetime value : Part II

1. Manage all communication channels available:

Having multiple points of contact, allows customers to choose the most convenient medium for communication. According to a research, sixty percent of consumers don’t want to be contacted over the phone about special offers, information, and upgrades, while 75 percent prefer contact via email or text message. Social network tools give you the opportunity to connect and engage with your customers at any time of day, as per their convenience.

Managing communication channels

2. Offer convenient and affordable services:

Convenient and affordable services make it easier for users to enjoy what they’re paying for. Make sure that your users/customers should spend the least amount of time possible trying to use your product or service, so they can spend the majority of their time making the most out of it.

Affordable services

3. Create brand loyalty:

As per a research, 64% of participants said shared values were the primary reason for maintaining a relationship with their brand. Clearly communicating your brand’s philosophy or higher purpose has become very important to today’s consumers. So, you must choose a technique, which reflects your consumers’ beliefs and demonstrates them through sponsorship, events or anything relevant. Be sure to brand all marketing efforts consistently and keep your product quality high, so consumers keep returning to what’s comfortable.

Brand loyalty

4. Be there in your customers’ hour of need:

Being there in customers’ hour of need means holding their hand while the problem is solved, helping them cut through the confusion to find the solution, or getting them directly connected to the person who can help them as soon as possible.

Helping customers

5. Try building long term relationships:

Building and maintaining long-term relationships is a simple, effective method for increasing your CLV. While it may take a little extra time, care and consideration, it’s a great way to leverage your existing customer relationships to boost revenues without simultaneously increasing your expenses.

Long term relationship

October 22, 2024

How to increase customer lifetime value : Part I

Increasing your company’s customer lifetime value means:

i) increasing customer loyalty

ii) general profitability

iii) marketing allowance

In order to increase customer lifetime value:

1. Always strive for making your product better:

When you want to build your business on loyal customers and brand evangelists, you have to do something that is beyond mass consumer expectations. As a matter of fact, people love to feel like they have the best thing, no matter what that thing is. Once they feel like it’s the best, they’ll do way more than talk about it.

2. Try upselling and cross-selling:

Upselling means persuading a customer to buy something more expensive or an advanced version of a product. You sell a more expensive model, additional features or upgraded version of something. This adds value to the product.

Cross-selling, on the other hand, means selling a new or a different product/service to an existing customer. In other words, you’re selling additional products to the customer.

Both these strategies are highly effective and profitable when trying to boost the customer lifetime value (CLV) for your business, no matter, what scale or size.

3. Differentiate yourself from your competitors:

You need to differentiate yourself from your competitors in terms of features, services, resources, or whatever else your customers will place some value on.

4. Be careful when choosing incentive schemes:

As a matter of fact, choosing the right incentive structure means your customers won’t be the only ones leveraging the rewards. Utilize your rewards system to increase customer retention, and boost your customer lifetime value without compromising your bottom line. Instead of discounts, offer exclusive products or value-added services. This will further increase your CLV by promoting customer loyalty and increasing profitability in the long-term.

5. Resolve customers’ queries:

Make it quicker and easier for your customers to get their questions answered. Go above and beyond your actual product and give them something that makes their life easier on a regular basis. In other words, you need to understand your customers, figure out what would make their life easier, and build it.

October 22, 2024

Types of sales promotions: II

1. Provide free shipping:

Providing shipping that’s free of cost is one of the greatest and most profitable sales promotions! Free shipping and return instill in the customers a sense of security that they won’t lose out if the delivered product did not meet their expectations and they wanted to return it back.

You can always incorporate the shipping cost into your product if you are worried about your margins. You may even think about offering free shipping when a customer spends over a certain amount.

Free shipping/free returns create customer security and make it hassle-free.

2. Implement flash sale campaigns:

Flash sale campaigns are a great way to create a sense of urgency for the customers to buy. Many retailers are now adopting this strategy as a way to sell more products and get rid of surplus stock.

The more successful flash sales are ones that don’t last very long and 50% of purchases occur during the first hour of a flash sale, hence, helping the businesses clear the surplus stock.

3. Entice customers with holiday promotions:

Holiday promotions are the most enticing types of sales promotions as customers always like to spend more on the holidays, making it the perfect opportunity for you to get your brand out there and sell more products. You don’t have to overdo your offers, but enticing customers with slight discounts will always work in your favor. It basically requires your creativity to sell out the stock through holiday promotions.

4. Offer discounts for spending more:

This kind of deal attracts the customer to buy more of your stock. Giving them a discount if they spend more is one of the greatest types of sales promotions. It may further drive them in the right direction. You don’t have to offer a huge discount, but make sure it’s attractive enough to convert visitors into buyers.

5. Run a competition:

Running a competition will not only help raise your profile but every person that enters will then become an email contact that you can try and convert into a sale.

Clever way of triggering sales promotions, isn’t it?

Well, if people are entering your competition, chances are they are interested in your products, so running a competition is a great idea for deepening that interest, particularly for start-ups.

October 22, 2024

Types of sales promotions – I

1. Reward your customers:

Customers love discounts and stuff like that. Thus, rewarding your customers will help you build a solid base of loyal, long-term customers and it will entice people to shop more at your online store. Providing great customer service is crucial to the success of your business. These days offering a loyalty point system is a popular form of sales promotions.

In this case, the customer can gain points every time they buy and then use their points to get money off future purchases, or if they buy more, they save more.

2. Give away freebies:

Giving away freebies not only gives potential customers the chance to test out your product but also entices people to buy your stuff!

Now, the question arises, what to give away as freebies? Well! Branded keychains, bumper stickers, magnets, pens etc. are some options. Customers will appreciate the gesture, feel valued and will think of you whenever they see their branded gift.

3. Add discount to your products:

Offering your products at a price lesser than the regular one is the most popular sales promotion strategy. Adding a discount to your products is possibly the best type of promotion. Customers love to grab a bargain, so it makes sense to offer discounts every now and then to boost your sales. Always consider your bottom line and be sure to not constantly have a sale, as people will just come to expect this as a norm of your business.

4. Offer virtual coupons:

Offering digital or virtual coupons is an effective sales promotion technique that will make the promotion seem more exclusive and will give the customers more of a push to visit your online store. You should send coupons to loyal customers who have spent a certain amount. You could also consider sending coupons to visitors who have experienced bad customer service. This may help convert them back to happy customers!

5. Lowest price guarantees:

Price match promise has become one of the most popular ways to promote your brand these days, particularly if you have a lot of competitors trying to leverage the lucrative market. It allows your customers to shop with you and will be safe in the knowledge that if they can get it cheaper somewhere else, you’ll refund the difference and keep your words. There’s nothing to lose for them and it means that you still get to keep a solid, long-term customer base.

October 21, 2024

Best customer retention strategies: Part IV

1. Ameliorate your content management:

For making choices between different services or products, people usually go with the products and services which we have heard about from their knowns or came across while browsing the web. Thus, to entice the visitors and ultimately achieve customer retention, you need to produce content which you, yourself would read and share with others.

Moreover, you need to find marketing channels and spend the time to learn how to leverage the numerous free and paid marketing channels out there. Twitter, Google+ and other communities can help you find commonly discussed topics that you can write about.

2. Overcome buyer’s repentance;

Buyer’s remorse is defined as a sense of regret after having made a typically large purchase.

Buyers are usually afraid of 2 different things:

i)Their money was worth more than the product

ii)Their colleagues won’t approve of the product or service purchase.

Therefore salespeople should effectively address buyer’s remorse before its occurrence. The salesperson should be able to convince the customer as to why this is the best option for them. If your customer is not convinced and still wants a refund, try supporting your words with case studies or testimonials that show how your product was able to efficiently solve problems in similar cases earlier.

3. Indulge in live chats or Skype calls to know your customer’s requirements:

One of the most efficacious techniques of creating an impact with your customers is to get on a call with them. This will help you get really useful feedback that you can use to improve your business. Moreover, you will stand out in that customer’s mind and make the impression that you genuinely care about their needs.

4. Make use of the system of unearthing complaints:

As a matter of fact, 96 percent of discontented customers don’t complain. They just walk away! That’s because they often don’t know how to complain, or can’t be bothered, or are too frightened, or believe it won’t make any difference. Whilst they may not tell you what’s wrong, they will tell their friends or knowns.

A system for unearthing complaints can, therefore, be a savior for your business, because customers who complain are giving you a gift, they’re still talking to you. In other words, they’re giving you another opportunity to return them to a state of satisfaction.

5. Send targetted campaigns to your customers:

You can target your customers with personal and optimized marketing campaigns with the help of some amazing email and marketing services. Services like Vero and MailChimp are great for data-driven email marketing and event-triggered email marketing.

1. Always strive for making your product better:

2. Try upselling and cross-selling:

3. Differentiate yourself from your competitors:

4. Be careful when choosing incentive schemes:

5. Resolve customers’ queries:

1. Provide free shipping:

2. Implement flash sale campaigns:

3. Entice customers with holiday promotions:

4. Offer discounts for spending more:

5. Run a competition:

1. Reward your customers:

2. Give away freebies:

3. Add discount to your products:

4. Offer virtual coupons:

5. Lowest price guarantees:

1. Ameliorate your content management:

2. Overcome buyer’s repentance;

3. Indulge in live chats or Skype calls to know your customer’s requirements:

4. Make use of the system of unearthing complaints:

5. Send targetted campaigns to your customers:

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