Customer Retention is the new customer acquisition. Organizations often try to keep customers at any cost — even when they aren’t a perfect fit. But trying to cater your product for the wrong audience is costly, emotionally and financially. This episode features Jeff Lattomus, Senior Advisor, Nefeli Networks. Jeff will be talking about the ways organisations can revamp their customer acquisition strategies and how they can stay ahead during these data driven times where customers are well educated about these products and services.
1. Organisations today are data driven and data is the key to understanding your customer at a deeper level. It helps in understanding customer buying behaviours and target market for advertising. Customers are way more educated about the products and services because of the plethora of data available on social media platforms.
2. Partners, re-sellers, system integrators are important when starting a new organisation. Focus on sales team, SDR team, lead generation team training and enablement but as you move into this new generation it’s important to partner with high scale social media sites and online web like youtube twitter and facebooks and make them.
3. Organisations these days can make their services buyer-centric by simply advertising themselves on all the social media platforms. Allow the customer to have the experience and build trust. Building this trust will have much less acquisition cost than the benefits being offered.
4. Find your differentiation that will attract your customer and will give you competitive advantage. It will be the value proposition of your products, features and benefits that will be serving your customers from selling as well as buyer touch-point.