How to Increase Customer Value Through Marketing Automation?
Introduction
Marketing automation software is a tool that automatically completes customer retention activities, including sending targeted messages to your customers and prospects based on their behavior and preferences. It helps marketers acquire new customers, nurture existing relationships, and analyze campaign performance across channels.We’ll further see how we can increase Customer Value Through Marketing Automation.
The software functions by tracking user actions on your website, app, digital product, email campaigns, and other events. Then, this behavioral data triggers targeted content via email, SMS, push notification, in-app messaging, social, web, and more. Let’s discuss how to Increase Customer Value Through Marketing Automation.
How to Increase Customer Value Through Marketing Automation?
1.Optimize the Onboarding Process
The software provider in the area of electronic invoices wants to devote itself to new customers who have acquired a one year basic license for the software. For these, the marketing department creates a nurturing e-mail campaign to expand the customer lifecycle. After purchasing a temporary basic license, the customer automatically receives a welcome email in which the provider thanks them for having decided on his solution and providing them with important information for using it (contact for customer support, link to the user forum, etc.).
In order to best support the new customer during the onboarding process, further e-mails with useful content will follow within the next few weeks. For example, in the second e-mail, the customer will find a step-by-step guide for the key features of the software, including a link to the website with the appropriate video tutorial. Now the customer is familiar with the solution, and in another email they will receive a list of software hacks for even more effective use. That’s how we can Increase Customer Value Through Marketing Automation.
2.Map The Customer Journey Based On Segments And Personas
The customer journey is the path that a customer takes from initial awareness of a product or service to eventual purchase. It also takes into account touchpoints to build customer loyalty. Marketing automation helps you build a frictionless customer journey that delivers an exceptional customer experience. and you can Increase Customer Value Through Marketing Automation.
By understanding the journey that each segment takes, businesses can develop targeted marketing and sales strategies to more effectively reach and convert customers.
Customer-centric approaches and marketing automation tools help organizations deliver warm, tailored experiences and messages to these personas across the customer lifecycle.
This is extremely important when your audience hasn’t converted yet. They are still evaluating options in the marketplace. Customer-centric companies can show from day one how they care about their future customers.
Since this requires extra effort and investment from organizations, even with marketing technology, this represents a blocker for many organizations. This means that this is an opportunity for marketers that understand the importance of customer-centricity and Increase Customer Value Through Marketing Automation.
3.Personalized Content
Marketing automation tools allow brands to be up close and personal with the customer by studying their behavior and actions to encourage a more authentic and free-flowing two-way conversation. This is the distinguishing factor that paves the way for 1:1 customer relationship.
Segment your customers based on their demographic, needs, budget, usage, etc and deliver granular, targeted content. This practice warms them up considerably and boosts top-of-mind awareness, increasing your chances of retention.
For example, data mining will give you the probability of a customer’s repurchase based on their transactional history. Based on this information, you can plan a cross-channel campaign with timely messages, setting the mood for up-selling and cross-selling.
4.Create Cross-Channel Experiences
As soon as a prospective consumer prospect is identified, the company should embark on a series of multi-channel marketing messages. This includes creating direct mail and email campaigns, dynamic landing pages, mobile marketing and social media experiences to engage with the prospect at every turn. This will help you to increase customer value through marketing automation.
5.Build a Community
Customers are more likely to remain engaged with your brand if they feel like they’re part of a community rather than a statistic pushed through a sales funnel. To maximize customer lifetime value, your business should seek ways to foster a community for your customers.
Interact with them on social media. Encourage consumers to post reviews and photos, share opinions, offer advice to one another, use branded hashtags, and engage in a community setting.
Conclusion
Customer lifetime value (CLV) is one of the most influential metrics companies use to predict revenue potential and make strategic marketing decisions.
Whether you’re operating a single brick-and-mortar store, eCommerce operation, or multi-location business, understanding how to maximize your customer lifetime value using marketing automation helps your team increase revenue by investing in the customers who are most likely to provide long-term profits.
