Ascenda’s Post

In the dynamically changing business environment of today, fostering customer loyalty is no easy feat. Yet, companies are finding gratification in leveraging strategic digital rewards to set their brand apart by boosting customer retention. 🎯 It is a remarkable identifier of how consumer behavior is shifting towards a realm where recognition and rewards play a pivotal role. Here's the prediction: ✔️ The horizon of business strategies will revolutionize with an increased inclination toward digital rewards and digitally savvy customer retention programs. Couple of thoughts: • By providing valuable and accessible rewards through digital mediums, businesses can create a stronger bond with their customers. This is the forefront of cultivating a deep sense of loyalty that today's customer seeks. • The competitive landscape continues to evolve, yet the core of driving customer retention remains rooted in a gratifying customer experience. Deploying digital rewards tremendously enhances that experience. This newfound approach isn’t just a blip - it’s the future of brand-customer relationships. On this exciting journey, brands need to identify, strategize, and monetize dynamic reward mechanisms to truly understand their customers. 💭 Some end thoughts: As the digital landscape progresses and becomes more saturated, digital rewards are poised to emerge as decisive factors in consumer decision-making. Brands who adapt to this revolution will likely foster deeper relationships with their customers, creating longtime advocates for their product or service. From a proactive perspective, continuously reimagining reward strategies will safeguard brands in maintaining a lead role in the competitive business ecosystem. Let's boldly embrace the unfolding digital reward revolution towards heightened brand loyalty and superior customer retention! #DigitalRewards #CustomerRetention #BrandLoyalty

Customer Lifetime Value (CLV) isn't just a number; it's the heartbeat of sustainable growth. Yet, many businesses undervalue its profound impact on revenue strategies. Discover how strategic adjustments in your customer engagement can turn the tables on traditional revenue models. Here's how: 𝟏. 𝐋𝐞𝐯𝐞𝐫𝐚𝐠𝐞 𝐃𝐚𝐭𝐚 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐬: Dive deep into customer data to identify behavioural patterns and tailor personalised experiences that boost retention. 𝟐. 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐘𝐨𝐮𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫𝐬: Not all customers are equal. Develop targeted strategies for high-value segments to maximise returns. 𝟑. 𝐄𝐧𝐡𝐚𝐧𝐜𝐞 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐈𝐧𝐭𝐞𝐫𝐚𝐜𝐭𝐢𝐨𝐧𝐬: Every touchpoint is an opportunity. Ensure your team's interactions are aligned with customer expectations to increase satisfaction and loyalty. 𝟒. 𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐞 𝐅𝐞𝐞𝐝𝐛𝐚𝐜𝐤 𝐋𝐨𝐨𝐩𝐬: Use customer feedback to refine your offerings continually. This will help you stay relevant and valuable to your customer base. 𝟓. 𝐈𝐦𝐩𝐥𝐞𝐦𝐞𝐧𝐭 𝐏𝐫𝐨𝐚𝐜𝐭𝐢𝐯𝐞 𝐑𝐞𝐭𝐞𝐧𝐭𝐢𝐨𝐧 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: Don't wait for churn to act. Initiate retention campaigns that engage customers at critical moments in their journey. 𝟔. 𝐎𝐩𝐭𝐢𝐦𝐢𝐬𝐞 𝐔𝐩𝐬𝐞𝐥𝐥 𝐚𝐧𝐝 𝐂𝐫𝐨𝐬𝐬-𝐬𝐞𝐥𝐥 𝐓𝐞𝐜𝐡𝐧𝐢𝐪𝐮𝐞𝐬: Understand your customers' needs and present them with offers that are hard to refuse at the right time. 𝟕. 𝐔𝐬𝐞 𝐏𝐫𝐞𝐝𝐢𝐜𝐭𝐢𝐯𝐞 𝐌𝐨𝐝𝐞𝐥𝐥𝐢𝐧𝐠: Predict future buying behaviours based on historical data to create compelling offers that resonate with individual customer needs. 𝟖. 𝐅𝐨𝐜𝐮𝐬 𝐨𝐧 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐄𝐝𝐮𝐜𝐚𝐭𝐢𝐨𝐧: Empower customers with knowledge about how to get the most from your products or services, leading to increased satisfaction and loyalty. 𝟗. 𝐁𝐮𝐢𝐥𝐝 𝐚 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲: Encourage customers to connect with each other and share their experiences. This can enhance loyalty and increase lifetime value. #B2BMarketingStrategies #RevenueGeneration #CLVStrategies #CustomerEngagement #DataAnalytics #PersonalisedExperiences #B2BMarketing #DemandGeneration #SaaSMarketing #ABM #GTM

what are the metrics we should look for a good growth strategy? Here are some metrics to track for business growth: Customer acquisition cost: Shows how much it costs to acquire new customers  Customer lifetime value: The potential revenue a customer can generate over time  Customer churn: The percentage of customers who stop doing business with you  Customer engagement: How often and how deeply customers interact with a company's product or service  Revenue growth rate: The percentage increase in revenue over a given period of time  Marketing metrics: How effective a launch campaign is, and which strategies are most effective  Social media metrics: What kind of content your audience wants to see, and how to get higher engagement  Customer retention rate: The number of customers a company has retained over time  Other growth metrics include: Activation rate Annual returning revenue Monthly recurring revenue Average revenue per user Revenue churn Leads per month Leads to sales conversion rate Net promoter score Net profit margin Employee satisfaction #growthmarketing #growthstrategy #growthhacking

Understanding the core drivers of Total Customer Value are critical to building the growth engine of any business. Companies constantly under-estimate what a customer is truly worth by not capturing all the value acquiring a customer brings. Common drivers: 1) Higher ACVs / Average Deal sizes 2) Increased Usage / Functionality which drives expansion revenue 3) Lower churn, higher retention and higher LTV 4) More upsells 5) More cross-sells 6) Increasing pricing 7) Driving more referrals with higher NPS / satisfaction 8) Better onboarding to increase conversion rates and usage Correctly understanding Total Customer Value is the key to scaling sales and marketing. It tells you how much you can truly spend to acquire a customer. The higher the total customer value, the more you can spend. The more you can spend, the more of the market you can capture. #marketing #digitalmarketing Sign up for our newsletter to get more bite-sized marketing insights like this --> https://ed.gr/d7wa1

"Looking at the entire customer journey provides organizations with more information and insights about the customer’s intent. That’s because all the individual actions that customers take are now seen in context within the entire journey." - Chris Wood via MarTech https://zurl.co/B7Sn #marketingprofs #b2bmarketing #growthmarketing #demandgen #leadgeneration #saasmarketing

First-party customer behavioral data can significantly enhance customer satisfaction, boost revenue, and elevate the marketing team's effectiveness. 🚀 Our insights stem from a comprehensive study by Forrester Consulting, engaging 1,200 marketing leaders worldwide. Curious to explore the outcomes of this global research? Dive into the details here: https://lnkd.in/gmK94wfB #DataStrategy #FirstPartyData #AcousticConnect

Understanding the core drivers of Total Customer Value are critical to building the growth engine of any business. Companies constantly under-estimate what a customer is truly worth by not capturing all the value acquiring a customer brings. Common drivers: 1) Higher ACVs / Average Deal sizes 2) Increased Usage / Functionality which drives expansion revenue 3) Lower churn, higher retention and higher LTV 4) More upsells 5) More cross-sells 6) Increasing pricing 7) Driving more referrals with higher NPS / satisfaction 8) Better onboarding to increase conversion rates and usage Correctly understanding Total Customer Value is the key to scaling sales and marketing. It tells you how much you can truly spend to acquire a customer. The higher the total customer value, the more you can spend. The more you can spend, the more of the market you can capture. #marketing #digitalmarketing

𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐂𝐋𝐕: 𝐓𝐡𝐞 𝐃𝐍𝐀 𝐨𝐟 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐑𝐞𝐥𝐚𝐭𝐢𝐨𝐧𝐬𝐡𝐢𝐩𝐬 Understanding and maximizing #customerlifetimevalue (CLV) is critical for businesses aiming to foster long-term relationships and drive profitability. CLV represents the total worth to a business of a customer over the whole period of their relationship. Just as DNA contains the genetic instructions for the development, functioning, growth, and reproduction of all known organisms, CLV encapsulates the essential data about a customer’s value to the company. It’s a metric that goes beyond transactional data, embedding customer behaviors, preferences, and engagement levels, thus offering a comprehensive view of the customer’s worth. 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐋𝐢𝐟𝐞𝐭𝐢𝐦𝐞 𝐕𝐚𝐥𝐮𝐞 𝐢𝐬 𝐬𝐨𝐦𝐞𝐭𝐡𝐢𝐧𝐠 𝐭𝐡𝐚𝐭 𝐜𝐚𝐧𝐧𝐨𝐭 𝐛𝐞 “𝐡𝐚𝐜𝐤𝐞𝐝.” 𝐈𝐭 𝐧𝐞𝐞𝐝𝐬 𝐭𝐨 𝐛𝐞 𝐞𝐚𝐫𝐧𝐞𝐝. But each customer has unique wants, preferences, and needs. To enhance CLV, businesses need to implement strategies focused on identify the profitable customers and execute actions to improve their satisfaction, retention, and loyalty. Personalized experiences, exceptional customer service, loyalty programs, and consistent engagement across all touchpoints are fundamental. Furthermore, leveraging data analytics for deeper insights into customer behavior and preferences can inform product development and innovation, ensuring that offerings remain relevant and compelling. First party data is key. You know more about your customers than anybody else. Use your own data to understand your most valuable customers and create tailored and memorable experiences for them. With the right customer data, customer lifetime value (CLV) helps you better direct marketing resources and shift your goals from short-sighted quarterly profits to long-term customer relationships that are likely to produce even greater profits.

Do you know with social media you can enhance your customer experience? Social Media is more than just a marketing tool! Other than using social media to connect with customers, build relationships, and promote your products and services. SM platforms gives you access to wealth of information about your customers. Social Media can also be used to collect and analyze data to enhance your customer experiences. Here is how you can collect data: 🎈By monitoring social media mentions, 🎈conducting surveys and 🎈Analyze social media analytics. The data obtained can help you in: 🎈Identifying areas where you are excelling and areas where you need to improve. 🎈Measusring response time to customer requests. 🎈Identifying customer satisfaction rate with the support provided. Now, to enhance your customer experience do this: 📌Analyze social media data to identify customer trends and patterns. 📌Monitor social media for mentions of your brand (both Negative and positive mentions). 📌Use social media data to personalize your interactions with customers. 📌Use social media data to identify and resolve customer issues quickly. 📌Use social media data to provide better customer support. By using social media data effectively, you enhance customer experiences and build stronger relationships with your customers. Coming across my post for the first time hit me up Miriam to follow for customer centric post to enhance your customers experiences and increase retention by over 65%. #CustomerSupport #customerexperience #customercentricity #businessboost #customerretention