Articles to Help You Master Growth

It is reported that 86% of customers are willing to pay more if they receive a better customer experience. Luxury and extravagant purchases regularly command an average premium of 13% simply because consumers believe they get an exclusive and unique customer experience. But today, everybody is looking for exclusive, tailor-made customer experiences that align with their personality, lifestyle, and choices. In an increasingly exclusivity-seeking world, it is evident that brands need to forge an emotional connection to get their attention and build customer loyalty. This can only be made possible with impactful customer engagement.

Customer retention stands at the forefront of every business owner’s mind. And why shouldn’t it? Retaining a customer is good for the top line as it helps lower the cost of acquiring customers. Data suggests that acquiring new customers costs 5x-8x more than keeping existing customers. Moreover, existing customers will likely spend 67% more on average than new customers. Besides, a returning customer is a sign that you are doing good work of engaging and maintaining your relationship with your customers well.

Personalization within email marketing means that your email is at least partially unique and even customized to the recipient. Some email campaigns can be highly personalized, other emails can be minimally personalized. But it helps build trust with the reader. This can lead to a greater likelihood of success with your campaigns.

Customer engagement is one of the key drivers of conversion and retention. It sets the foundation for brand trust and loyalty. With cut-throat competition around, it can actually set brands apart without the need for excessive burn and acquisition costs. An increasing number of brands are therefore striving to engage better with customers. To stay ahead of the curve, they are making the most of the troves of data available to them to create and deliver delightful and highly personalized experiences. For this, they can leverage evolving tools and technologies such as a Customer Engagement Platform or CEP.

76% of consumers today expect brands to understand their needs and expectations. At the same time, 84% of customers say they want to be seen and treated as a person, not a mere statistic. Customers will likely avoid brands that don’t give them a tailored personal experience. It is no secret then that personalization takes the cake when it comes to winning customer hearts, attention, and wallets. Personalization is a win-win for both brands and customers. A 2020 study showed that 70% of companies using advanced personalization have already earned 200%+ ROI from their efforts.

It's that time of the year again when Holiday Marketing becomes the buzzword for marketers everywhere. It’s a race against time for brands hoping to capture customer attention before planning their big holiday spends. Some brands win big at holiday marketing, while others fail to get noticed. But one thing is clear: the holiday season can be the most valuable time of the year for businesses looking to grow and expand their reach. In this short guide, we take you through everything you need to know about holiday marketing so that you can capitalize on consumer preferences during these upcoming holidays.

One of the biggest blockbuster hits of 2023, SRK’s Jawaan, reinforces the power of a good customer loyalty program. The movie’s success opens up conversations about customers, how they experience a brand, and how to keep delivering to retain customer loyalty.

A loyal customer can bring much value to a business, not just in terms of repeat purchases, but also by becoming a brand ambassador and organically advocating and promoting the brand whenever they get an opportunity. Businesses encourage customer loyalty through loyalty programs, which have become increasingly popular in recent years.

Ever wonder how first-time consumers discover brands like Glassdoor, Airbnb, and Duolingo? These brands made the most of great content to reach their audience and help them solve specific problems. By creating content that is personalized and therefore, relatable, brands are able to move users along the funnel to eventually become paying customers for the brand.

Every downturn in the market cycle sees businesses immediately rush towards customer retention and foregoing all efforts towards acquisition. As the cycle turns, customer acquisition come back into focus and retention takes a backseat. While this may seem like sound business practice, such drastic shifts in focus could do businesses more harm than good.

Think of a brand or product, or app that makes you happy. So happy that you would gladly use it again and again and also recommend it to others? Was it the product itself or the accompanying experiences like customer onboarding? Or both? Now turn it around, consider your customer base, and assess whether you have been giving your customers a similar experience.