dialogue marketing

 
 
The Challenge of Acquiring New Customers
Customer acquisition starts off with establishing a "share of mind", by creating product awareness. This is traditionally achieved by placing your offerings ahead of those of the competitors within the prospect's mind. Usually expensive mass marketing techniques are used for this purpose. The high levels of expenditure required usually mean that all but the very well heeled waste their advertising expenditure. Most efforts are ineffective, achieving little other than margin erosion. At this stage of the challenge, if you are lucky, the prospect may become aware of you, but no lasting bond has been established. A competitor, with a slicker campaign, may still win the prospect over. This is usually the most creative, challenging and expensive part of the marketing campaign.
To meet the challenge of acquisition has usually required deep pockets, intense creativity, analytical rigour and advanced technology. Components that have been out of reach for the majority of businesses until recently. By using advanced segmentation analytics dialoguemarketing is capable of automatically engaging with the prospect, gathering information and in the process sifting through multiple suspects, producing qualified prospects for targeting by your organisation. These qualified prospects in turn have a higher probability of becoming profitable new customers.
 
 
Making Your Customer Service Pay Dividends
A trial purchase follows your initial marketing efforts. This is where you have the opportunity to impress. Don't waste it. Every single customer touch point needs to be optimised, to name a few, product displays, in-store music and atmosphere, employee cleanliness and courtesy, delivery punctuality, production accuracy and lead time, quality control, customer feedback, invoicing accuracy, website layout and functionality, telephone etiquette, store access and employee interactions. If the trial purchase does not satisfy the customer there will, in all likelihood, not be a second purchase. If perceptions meet or exceed expectations, the customer is open to a repurchase. Because dialoguemarketing is premised upon communication, there are truly powerful capabilities, or loyalty tools, to manage the intricate relationships between customers and the various business functions within your organisation. The net result undoubtedly being a more efficient organisation and a truly satisfied customer, raising the probability of a repeat purchase
 
Solving the Challenge of Retaining Existing Customers
VALUE = PERCEIVED BENEFIT - PERCEIVED COST


After the purchase your customers will evaluate the transaction, and this is done in accordance with a simple formula, one by which most businesses fail. If the perceived benefit, which is a
combination of product offering and customer service exceeds the customer's expectations or the perceived costs of dealing with you, you would have created value for the customer. Not unexpectedly, most businesses erode value, and are painful experiences for the customer. It is your duty to create value for your customer. Surprisingly, most businesses ignore their past customers during this phase, only being too happy to have made the initial sale. Any interactions during this phase need to work towards deepening the relationship, therefore the nuisance factor needs to be minimised. Forget about mass marketing, usually in the form of mass email or sms campaigns. Engage your customer in personalised dialogue. Gather crucial information, respond to customer requests, build value. Your customers want to know and feel you them. By using the dialoguemarketing capabilities effectively you can automatically gather information, engage and respond to your customers, thereby building a positive association with your brand, which has a high probability of resulting in repeat purchases. It is up to you to nurture this positive association by reinforcing the value benefits, and by developing high switching costs.
 
Customer Data, The New Competitive Advantage
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Over time the customer profile becomes increasingly accurate, and the customer may have developed a strong bond with the brand. Because of a positive association with the brand the customer would be receptive to offers to cross-sell (offering related products that would add customer value) and up-sell (offers to trade up the product chain). These efforts, when successful lead to value creation for the customer, and improved profitability for you.
 

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