Ways of Reaching Out to Genuine Customer for Effective Business Decision-Making
Loyal customers are an asset to a business. They are responsible for bringing revenues to the business. They offer relevant feedback imperative for business decision-making.
Sometimes it’s often hard to calculate actual Return on Investment (ROI).
The best approach of calculating ROI depends on the respective business.
Listed below are few areas where from genuine customers can be traced who can potentially impact the bottom line of the business:
Word-of-Mouth Via Email and Links
Word-of-mouth is the hardest thing to track and monitor against direct sales. However, it’s the most effective type of marketing. As you can’t track that intangible, look at your email metrics to observe how many people clicked at your “refer a friend” button or another embedded call to action. The email-business cloud hosting solution like MS Exchange, SharePoint 2016 can be adopted for the integration of the system to get the quick results.
As you can’t view the specifics of who is forwarding your email and to whom, you can get general status and then utilize the information to make tweaks to the relevant process. Add email and SMS sharing buttons to all blog posts and relevant product pages to make it easy to share and track.
You are also allowed to track inbound links with help of the SEO tools to see what kinds of websites are linking to your products. In case there are websites which keep recommending your products, track to monitor how much referral traffic get converted into sales. Such information will provide you more insight into the kinds of customers who are talking about your products online.
Social Media Mentions
This is another way to track, is the customer is genuine interested as a whole or not. Tracking ROI from social media requires some analytics suites, capable of making possible to track referral traffic and conversions from several platforms or sales funnels. Such analytics suites best perform when data is hosted using dedicated cloud hosting service on the distributed systems and networks.
You are also allowed to set up custom links to track referral traffic that helps in determining sales from social media. While such strategy won’t tell you which customers are the most genuine and loyal, it depicts the trends about purchasing behavior in a nutshell. For example, Facebook users may buy more items when provided with an exclusive coupon code than Twitter users. This can help you test the loyalty of customer on specific platforms instead of just your customers.
Purchasing and Procurement History
This is the way to track and monitor individual customer behavior via purchasing history. In case you’re using an easy-to-use point-of-sale system, like QuickBooks Hosting solutions Point-of-Sale powered by Revel Systems, it must be simple to regularly review purchasing history of past clients. This may help you estimate and get an about your loyal customers’ ROI via analyzing when they purchase (e.g. holidays, times of the year, etc.), why they procure and purchase (e.g. sales, personal outreach, business events) and what they purchase.
Calculating and estimating these trends will help you determine the ROI of your efforts along with promotions and events, it can also help you customize your customer-specific solutions and services.
By providing an affiliate program for your respective customers, you are permitting them to earn rewards and revenue via promoting your products and tracking their referral sales through each affiliated unique code.
In case you notice that particular customers have higher affiliation commissions in comparison to others, examine what products people are purchasing with the codes and how they are generating interest. That insight might help your own sales and marketing teams understand how to customize campaigns to get more customers.
A healthy relationship of a customer can work upon with the help of appreciation builds loyalty programs. By offering rewards with an affiliate or a customer loyalty program which offers discounts, you can grow the business relationship with respective customers and get a better insight into understanding their purchasing behavior.
Individual clients through the online reviews can be tracked to understand the customer behavior about the product. Adopting and deploying collaborative tools over the cloud hosting solutions is the effective approach.
In case you observe a review by the customer saying she plans to return based on her positive experience, then try to find out why.
In case Jane enjoys the capability to order online and pick up her order the same day, then business can focus on enhancing that process by ensuring mobile orders are easy and efficient.
This is one of the easiest ways to calculate the ROI of feedback from genuine customers. By deploying amendments based on their feedback, you know more on how much their insight has enhanced your business’ sales. Explore correlations among positive customer reviews and purchasing behavior, such that you can get what drives loyal customers and how to handle them in future.
- Angeela is Techarex Networks' Content Marketing Associate for Intuit products. She has worked as an eCommerce and Marketing Strategist for the last five years, helping businesses with software implementation for Customer Service, CRM and Email Marketing. Angeela thrives in helping companies find the right software solution for their projects. Aside from his obvious passion for Marketing, Angella admits to being a foodie and travel enthusiast.