Do you know every minute more than 4 million people in the world respond with the ‘like’ button to the content on Facebook, over 1.5 million on Instagram, and 350 thousand tweets? The giant companies such as Tata, Deloitte, etc, cannot ignore such great mine of information. As the internet and mobile are being common more and more every year, and smartphones are changing the way of doing work, by the year 2023, most of the cellular networks will be ready to offer the 5G internet in phones.
So when the companies come across such data and information’s they have to figure out some of the questions to be ahead of its competitors in these red ocean markets. The questions are-
- How to get new customers to the business?
- Looking for ways to customer retention with social media?
- How to maintain and create a great bond with the customers?
In this article we will discover some trending ways to boost your customer loyalty with social media.
#1: Be a good listener- Every relationship gets stronger when you hear them and try to understand their views and takes. The same goes for the customers and social listening is very much important to find out:
- Where your customers convene on social media.
- Which of your products do they talk about.
- If they encourage or share great experiences or complaints; you should encourage that and address that and tag them.
- What kinds of content they constantly share? What hashtags do they use or they post a lot of photos?
#2: Engagement mapping plan- The next step for growing customer relationship are conversion activities. This is where you proactively provide the best value to your customers based on your listening. Once the relationship with customers deepens, a cycle begins where the customers give you feedback and you filter it to give them the best product and give them a delightful experience.
Once the level of engagement is established, develop conversion activities that focus on a deeper relationship with customers. Here are some key points to include when you are trying to keep your customers involved with your business on social media:
- Calendar content- Create a calendar for content that ensures communication and the needs of your business. Make sure with time you change the promotional strategies for new products, seasonal campaigns, and so on.
- Define the contents, offers, or reward that you’ll provide: Get in use of your data that you have learned about your customers and the things that they value and how can you encourage them with a positive approach while addressing common questions and concerns.
- Create conversion activities that are easy to participate in- When almost every social activities occur via phone, so you have to be simple and precise when a customer books your products or asks for the related links. Also, people like to remain in their current context, so the more your conversion activities take place in the social environment, the more you’ll be successful.
You need to identify the kind of data you need to track success (unnecessary data will make your conversions slow and will confuse you).
#3: Embrace Active Advocates- For consumers, brand loyalty depends on the perceived value they get from the relationship. The marketers know that loyal customers spend more on purchases and save companies from significant customer acquisition costs.
You can use social listening tools to identify social advocates and then select social VIPs and then infuse those relationships with value.
As a first step, ask your loyal customers to self- Identify in exchange for a reward of commensurate value for deep engagement with your company on social media.
For example, Indian Brand Mivi used Bhuvan bam the youtube sensation for the younger generation to promote more products ( as the younger generation is too much into music so a young advocate will do the job). They also gave special discounts in the name of Bhuvan Bam for their latest earphones. This helped Mivi to get no. Of conversions via youtube as Bhuvan very smartly in his videos tells his own experience of using Mivi products.
#4: Offer a Reward Program: Once you have identified your social VIPs and outline the tactics for the conversions, it’s very important to create and maintain a consistent swing. You should always ensure that the value you provide is a fair trade for the customer. So each time before the approach ask yourself,” Would I be continuing shopping in exchange od this reward?” If the answer is no then start again from the scratch.
Here are various rewards that work well across different audiences and can be used for your business and VIPs:
- Provide VIPs with access to unique content that they will truly value- This what most of the companies do, how-to guidance, or a behind the scenes and sometimes even a mere thank you video does the job. Example- Amazon prime gives quick deliveries and other different perks for its VIP members.
- Invite VIPs for preview and other social events- These tactics are used by the companies mostly for new products, property, or store launches. This gives an edge to the VIP customers and gives early access to peek, access, book, or upgrade, this tactics help you to grow advocacy for the new product.
If the social VIPs are members of your brand’s loyalty program, let them earn locality points through social interactions.
Often give your VIPs some personalized offerings that give them opportunities to look ahead to the next promotion. For example- if Diwali shopping season is around the corner, let your VIPs in on your Diwali shopping plans. They’ll help you by providing early feedback and reward you with their loyalty for incorporating their ideas.
#5: Measure Responses- The ultimate win is when you have growing customer retention and spend. The best way to capture social IDs and self-identification data in your conversion activities that you can link together to your CRM and throughout the sales process. Some companies even add directly to their e-commerce and sales system or through loyalty programs.
In addition to measuring sales, look for growth in social media engagements and followings, like the no of times your customers share your offers and dealings will create a snowball effect of brand advocacy and social proof among their own network.
Social media plays a vital role in maintaining long term customer relationship, and even more in growing lifetime customer value.
You can encourage the loyalty of your customers and create lifetime customer values by incorporating these 5 tactics into your social media account for customer retention and a long lasting business impact.
What do you think? Are these tactics on your list? Have you ever used any of this? If yes then which one? Did it work?