Best Ways to Improve Customer Loyalty and Retention

By now, you might probably know that the key to tow truck business growth is not just about bringing in new customers, it involves much more. It is about retaining the customers you have. Research has shown that increasing the customer retention rate by just 5 percent leads to a profit increase of up to 95 percent. Acquiring new customers can be 5 to 25 percent more expensive than retaining existing ones. These stats show how it so imperative to invest a lot of time and resources in retaining existing customers than retaining new ones.

Here are some important strategies

Invest in customer service tools

If you want to create delightful customer experiences, your team needs to be well-equipped to do the same. If you can have the right tools at your disposal will help in creating convenience for your employees and customers as well. You can make use of knowledge management software to keep your teams connected during urgent and complicated customer issues. If a sales rep needs to contact a service agent, they can ping them through the software and communicate in real-time. They will not need to put a customer on hold or set up an additional meeting just to troubleshoot the same thing.

Use reciprocity to increase loyalty

Reciprocity is a social aspect that has been found to increase a lot of loyalty. Any simple act of kindness will create a feeling of obligation in the person who wants to repay the kindness. Ensure you include elements of surprise while delivering to a customer. Surprise reciprocity is a surprise gift or gesture. An example would be sending customers free swags or tickets, without even letting them know you had intentions to do the same.  Trumpeted reciprocity is when the person giving or doing something beneficial does so in a way that reveals they are going above and beyond.

Exceed Expectations

It is one thing to satisfy a customer and it is another to satisfy them. You need to create the kind of customer delight that customers all crave. You need to understand what your customers are expecting from you. What do customers expect from the industry you are involved in? What steps are your competitors setting? You need to understand how you can meet those expectations and work towards ensuring they are all exceeded. Customers will always be forming opinions and you must ensure you listen to their concerns.

Keep communication record

If you have been interacting with a customer before, you need to ensure you keep a record of past problems. Your company culture, leadership, and business practices will all contribute to customer retention. One way to ensure you prevent future problems is to adopt a CRM system where you can store previous notes and communication, and pull them whenever you want to interact with a customer. If you can have detailed notes and a complete history of the relationship and interactions recorded, someone new handling the customer can pull out the conversation and handle the customer without many problems

How to Become an Influencer in Your Industry

Since it made its mark, influencer marketing has skyrocketed, towing industries such as landscape maintenance using influencers to promote products and services. This is mostly due to the way purchasing decisions have changed over the years. People who are celebrities and have a huge following attract a decent level of trust and acceptance when promoting products to their fans. When it comes to getting advice and recommendation on what to do, or which products to buy, there are still those people we rely on for advice, as we see them as experts in their fields

Who are influencers?

Influencers are ordinary people who have earned a substantial loyal following as a result of their expertise and transparency. Unlike celebrities who actively endorse products on their social media accounts, influencers achieve their status as a result of the valuable information they share with their following.

Here are simple things you can do to become an influencer.

Find your niche

The first thing to becoming an influencer on social media is finding your niche where you want to be known. Although social media influencers start posting out content they are passionate about, what sets them apart is how they tend to focus on a particular niche within the industry they are passionate about. To find your area of influence, you will first need to determine who is your target audience and develop a unique persona that is a representation of your audience.

Choose your channels

It is important to choose the right social media platforms where the audience who have your interests can mostly be found. Some of the most used social platforms for this task include Instagram and LinkedIn. In most cases, Instagram targets millennial and Gen-Z groups. All you need is to post a video or photo with valuable content such as tutorials, sponsored endorsements, and other videos relate to a brand. On LinkedIn, influencers found there are known as thought leaders and often have a large following that comprises of people with strong expertise and professional experience.

Develop your content strategy

Just like any form of inbound marketing, the format and quality of the content you publish will make or break the chances of you being a successful influencer. You need to decide on the format you will use when creating your content. In whatever you do, you should always deliver valuable information, but at the same time, express your opinion, personality, and voice. Doing so helps in adding some level of uniqueness to the content you produce for your target audience.

Distribute your content

No matter how great your content is, if you are not getting people to see it, it will be wasteful. It is important to carefully have a plan in place for publishing and distributing content on social media. The best time for you to post content on social media will hugely depend on which social media channel you choose to use. You also need to stick out to one theme per social media channel. You also need to categorize what you post appropriately.

Understanding the Parties Involved in Affiliate Marketing

Most of you might have come across Tim Ferris’s iconic book on the four-hour work week, and probably dreamt of getting into that life. This is where the concept of passive income comes in. You might be providing towing services in Raleigh and your employees are well disciplined to work for you, such that money trickles in while you sleep. Asides owning a brick and mortar business, it is the dream of most entrepreneurs to build an online business that gets a lot of traffic, where they can monetize their traffic and earn through being affiliates.

What is affiliate marketing

Affiliate marketing is one of the world’s most popular methods of generating passive income online. It is performance-based marketing in which a retailer rewards a business or person with a commission for each customer referred via the promotional activities of the person’s or businesses’ website.

In affiliate marketing, there are four parties involved.

Affiliates: They are the promoters of your products

Product creators: They create the product

Networks: They are the networks managing the affiliates

Consumers: They are the end-user of the product

Who are the affiliates

An affiliate, also known as a publisher, can be a company or individual. They are typically bloggers or content creators who operate in the industry of the product they are creating. Their work is to promote products or services by creating content such as blog posts, videos, and other forms of media. They can also promote their content by putting their ads, building an email list, and capturing traffic from SEO.

Who are the merchants

A merchant is also known as a product creator or advertiser. They are typically the creators of the product or service. They offer commissions to those who refer people to their businesses, where each referral translates to a successful purchase or sale.

Who are the affiliate networks?

Next, we have the affiliate networks, which act as intermediaries between the merchants and their affiliates. Though these networks are not necessary, some companies choose to work with these networks to add a layer of trust. Their work is to manage relations and offer third party checks and balances.

Who are the consumers

Consumers are the ones who make transactions. They purchase the product or service and keep the business going. Without consumers, an affiliate will not be able to earn their commissions.

The working of affiliate marketing

As an affiliate, you will be paid whenever a visitor creates a transaction. This transaction could be anything, be it a click, a sale, or lead form submission. In most cases, affiliate marketing is performance-based. This means you only get paid as an affiliate if your visitor takes an action. There are different affiliate marketing models used, which include; pay per click, pay per lead, and pay per sale. To start affiliate marketing, all you need is to choose a platform or niche, build your audience, sign up for affiliate program, choose the products or services to promote and create remarkable content that promotes your affiliate products.

Best onboarding practices to ensure your customers’ success

A lot has been written about customer success with a focus on structuring and hiring the right teams, retaining customers, cross-selling, and up-selling. While all these areas are very important, nothing much has been written when it comes to one of the most important processes, which is onboarding customers. Businesses dealing with pressure washing services in Fredericksburg have masters the art of onboarding their customers. On-boarding is a very important process and determines both the short term and long term user retention.

Here are some important ways to onboard effortlessly

Align with sales

A great customer on-boarding process starts with sales. The expectations set by the sales team determine the next course of action customers take after making a purchase and will greatly influence the customers’ on-boarding process. Sales teams should ensure they clear away any misaligned expectations. After purchase strategies will play a key role in turning a customer into a loyal one. Businesses should spend a lot of time working on pre-sales content, speaking to prospects, and training teams to offer the best sales experience.

Create content

A great and scalable way of setting expectations about what onboarding process for a customer should be is to work on content on web pages, downloadable stuff, and other materials that make customer concerns be addressed in a seamless manner. Businesses should invest their time and resources in creating content that markets their products. Always keep visuals as great as possible.

Speak to prospects

It is very important for sales teams to spend their time to speak to prospects even before they make signup. Such speaking will build credibility and help in setting the right expectations. It will also give the on-boarding team a greater sense of hesitations and concerns on the customer side, which when addressed, will ease the on-boarding process.

Optimize

When a customer makes a purchase, we normally think they are happy and excited about the purchase decision they have made. You need to capitalize on this excitement and keep the momentum going post-sale. Make a connection with the customer within 24 hours after purchase. Failure to do so may lead to dwindling of motivation as other projects and priorities come across your desk. Ensure the customer doesn’t experience buyer remorse as such feelings would hurt your business.

Do your research

As a rule of thumb, whatever amount of time you plan to spend with a customer during your first interaction, ensure you spend an equal amount of time preparing for the discussion. In the early days, a new customer will not have built up trust in your product or services. You need to ensure you know the ins and outs of your business to ensure all customer concerns are addressed in the most appropriate manner.

Additionally, for any interaction, you have with your customers, always ensure it adds value to their lives. Your products and services must add value as well. Ensure you are honest in your business dealings and set clear expectations.