Does customer nurturing matter? In today's hypercompetitive, hyperconnective world, the answer is an emphatic:
For businesses large and small, continuing to engage customers after purchases should be viewed as engaging them between purchases. It's relationship building.
Effective customer nurturing programs ensure that there is more repeat business and a deeper connection with buyers. And just as importantly, customer nurturing offers invaluable insights as to customer behavior, needs, and preferences.
Here are eight reasons why customer nurturing should be a priority for B2B and B2C companies.
1. Financial impact.
The cost of losing a customer—and finding replacement(s) for that lost revenue—are steep. With customer nurturing, you increase the likelihood of retaining customers and the accompanying revenue.
Customer nurturing is a compelling way to give customers a voice at your company. By making it easy for them to contact you via email, phone, and/or social media, you provide your customers with a way to engage with your company wherever they are, whenever they need you.
With effective customer nurturing programs, companies can leverage insights. The fact is that customers are going to talk about your company, its products and services, and its customer service. By inviting customers to have that conversation with the company directly, you demonstrate value and, in turn, will gain information you may not otherwise have learned.
Companies that do not offer ways for customers to provide feedback are now the rarity, rather than the norm. With an always-on world, customers expect to be able to interact, not via bots or static web pages, but via social media, live chat, and responsive email or web forms.
Customer nurturing programs remind your customers that you are there and that they matter to you. Customers want to feel valued and appreciated.
6. More Insights
When you have new ideas for products and services or enhancements to new offerings, who better to provide you with opinions than existing customers? Asking those customers to assist with your product ideation is a proven way to gain product knowledge and show appreciation for the customers you already have.
A recent study indicated "that [97 percent] of customers are likely to tell their friends, family, or coworkers about a great customer experience." The same study showed 72 percent of customers are likely to turn to a company with an excellent customer service reputation. Those are powerful figures, and customer nurturing empowers you to take advantage of them.
8. Small mentions matter.
One customer can make a difference. Imagine a customer nurturing strategy that monitors Twitter for suggestions. A software company sees a complaint about a bug in an app. Imagine that the Twitter monitor can send a note to the lead software developer who realizes the bug is easy to fix, will not affect other code, and will improve the product. Imagine that Twitter monitor reaching out directly to the customer, thanking them, and explaining the impact their Tweet had.
Customer nurturing is about retention, information, and engagement. It is cost-effective, both in the short and long term, and can vastly improve credibility, reputation, and repeat business. Contact us to get a free inbound marketing assessment and learn how customer nurturing can work for your business.
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