Post-Conversion Tips to Increase Long Term Customer Value
Written by Toonimo
Many marketers spend significant time on acquiring new customers, while almost ignoring the tremendous impact of retaining customers and investing in the long term value of ongoing, post-conversion engagement. Savvy marketing teams understand that the the acquisition and retention of a customer are linked and is a job that requires finesse and can't be relegated to customer support.
Generating leads is the initial step to growing a business but laying a solid foundation to create an ongoing relationship with customers will generate significantly more profit over time.
Marketers should be looking long conversion strategy and should always identify the customer lifetime value (CLV).
Improving CLV means optimizing existing conversion funnels and systems to ensure that the customer is always placed at the center of the equation.
Once a conversion is secured, the company's job is not over. In fact, it is just the beginning and we'd like to offer some of our favorite post-conversion strategies to increase CLV.
Why is post-conversion so important? Remember customers have invested their time and money to purchase a product on a specific site. Once they buy on a site, they are more likely to return and convert again.
With all this talk on post-conversion, here are a few effective post-conversion tips that are easy to integrate and can increase the long term relationship with every converting customer.
Customer Service is the Focus
Improving customer loyalty boils down to fulfilling, and hopefully, surpassing customer expectations at all times. No company, regardless of how amazing the product may be, will succeed in attracting loyal customers and brand advocates if they're treated as if they are not valued.
How can customer service be improved?
This question is filled with a bastion of options.
Amazing customer service is rare. Identify the companies, like Zappos, that are famous for providing superior customer value. What qualities from their customer value system can be replicated? Anything that shows that a company is focused on constantly improving customer value, will positively influence the long term relationship with the customer.
Surpass Expectations and Surprise
Immediately after purchasing a product, regardless of size, customers always feel a sense of uncertainty about the potential of finding a better deal somewhere else. It is as this moment of ambiguity that companies should respond to by exceeding expectations.
What added value can be offered to a customer that has just completed a purchase on the site? Is there an awesome surprise that can considered?
Perhaps this is the ideal opportunity to maximize customer engagement by encouraging them to market and push the product to their social network. Integrating a post-conversion customer centered marketing campaign can increase a company's CLV while reducing overall costs of acquisition.
Automate the Customer Experience
Automation and post-conversion marketing sound like opposites. Actually, when combined correctly, the two can create a truly personalized marketing experience extremely simple.
Why? As a company creates more personalized content to their customers, the likelihood of repeat conversions increases exponentially.
Integrating a automated campaign can be as simple as designing a flowchart that identifies customer needs throughout a specific time frame. Like the baby business, who continuously automates the content to parents to fit the age and development of the child.
As a business, cultivating customers is critical to the long term success, and growth, of the business. Once acquired, customers should sense their value throughout the conversion process. Identifying post-conversion engagement opportunities will dramatically improve the lifetime value of any customer.
