14 May 3 steps to commercial success in the ‘new normal’
Why would your customers choose you over a competitor?
Your customers are desperate to get their freedom back and return to some form of normality. With that freedom comes choices, and that means one thing – competition! Customers have never been so powerful. If you thought competition was tough before, you’re in for a shock. Whilst many brands have been in hibernation over the last 8 weeks or so, others have been taking advantage of this time to devise a plan. A plan that will ensure commercial success and having an edge over their competition…..you!
So, is your brand really ready to open its doors? Are you confident that your customers will return to you and only you?
Your customers don’t want to hear it
We’ve shared several articles and our opinions on the majority of marketing messages being shared during this crisis. You know the ones……’we are here for you’, ‘we’re cleaner than ever before’. This meme courtesy of The Marketoonist sums it up nicely.
Stop…….your customers don’t want to hear it. This will not help you stand out from the crowd, in fact the opposite is true.
3 steps to commercial success
We’ve been working with brands over the last couple of months helping them to continue the conversation with each of their customers. They’ve taken full advantage of this ‘hibernation period’, focusing their efforts on keeping their existing customers engaged and targeting new customers. Here’s how you can keep ahead of the competition to ensure commercial success.
1. Go on a listening tour
When was the last time you spoke to your customers? We don’t mean a feedback questionnaire, but a genuine conversation. Go on a listening tour, get out there and speak to these customers. Find out how they are feeling, ask them what they want more of vs. less of. I’m sure their responses will surprise you, and they will certainly help with your comms and promotional planning.
2. Put your customers on a path to repurchase
What does your customer comms strategy look like? Are you sending the same message to all or are you segmenting your customers effectively to ensure that the right message is being sent to the right customer? Think about which customers you are going to talk to and how you are going to talk to them. What’s the reason for talking to them? Segmenting your customers into different behavioural groups is so important (and extremely powerful). It will help you work out what your next move should be and how to put your customers on a path to repurchase. For example;
Customers who were most affected by your store closing
They missed their appointment, had a booking cancelled or didn’t receive the product or service they ordered. This customer group was ready to do business with you. Don’t let them slip away. Stay in touch with them, keep them updated when you are open and when stock/appointments etc. becomes available. Offer them an incentive for the inconvenience, demonstrate how valued they are.
Loyal customers who have been with you for years.
Our thoughts on how you should be speaking to your loyal customers has not changed. It’s thanks to these customers that you are in business. Don’t risk losing them. Let them know how much you are looking forward to welcoming them back. What new products/services you have been working on that they may be interested in. Contact them to pre-book them in for a future appointment/booking, offer them an incentive for when they are ready to return.
3. Take advantage of the new moneymoon period
If you read our content regularly, you will know all about the moneymoon period. This is your chance to activate the path to repurchase. And if you have been lucky enough to win new customers over the last couple of months – take this opportunity to keep hold of them. Your first form of comms post-purchase is so important. Don’t send generic promotional emails or feedback/NPS requests. Talk to them and not at them. Make it tailored to them and the product/service they purchased. Make it easy for them to make their next purchase.
Your competitors are actively and aggressively trying to steal your customers. Don’t let this happen, get an edge over your competition. Use this time to continue the conversation with your customers. Go on a listening tour, capture as much information as you can. Only then will you be in a position to influence their behaviour and put them on a path to repurchase.
Review your customer communications and ask yourself ‘is the conversation good for you or is it good for the customer?’ For those who follow the steps above and take the time to invest in the customer conversation will soon be reaping commercial success, and be one step ahead of the competition.
Customology are lifecycle management specialists. We enable brands to talk to customers and influence their behaviour putting them on a path to repurchase with your brand. To learn more about our approach, please contact a Customologist email@example.com or 1300 264 549.