We all know the positive impact that customer data has had on the modern sales process. Working with huge data sets has allowed businesses to craft much more meaningful experiences that can be utilised to win new customers.
However, you may not be aware that implementing data capture in your after sales process can help retain and build relationships between consumer and brand.
Bringing those customers back for multiple visits and each time getting to know your brand a little more.
How data informs your customer retention strategy
At the heart of any customer retention strategy should be building up a picture of your consumer. By defining which aspects of customer behaviour are most significant to your business, you can start to measure and analyse better ways to build engagement with your brand.
A data driven customer retention strategy can help massively with ROI and has been proven to drive profit.
“Executive teams that make extensive use of customer data analytics across all business decisions see a 126% profit improvement over companies that don’t”
Mitigating your customer churn through retention data analytics has huge benefits for your company.
For instance, did you know it can be up to 5 times more expensive to attract new customers than to keep an existing one? That’s a lot of resources going into guaranteeing a onetime sale. When instead you could be focussing on nurturing those relationships you have with pre-existing customers. Allowing you to grow more organically through authentic means.
How to incorporate data capture after the sales process
There’s a huge segment of consumers who never interact with your brand.
When thinking about how to engage this untapped resource there are 3 basic criteria. Incorporating any form of after sales data capture requires timing, incentives and personalisation.
Picture you’ve just been browsing a site, found the perfect item and carried out a flawless sales process. Now when is it most likely you’d be willing to sing the praises of an enjoyable customer experience like this? Well, the answers right there and then.
Many software and app brands have caught onto sending an accompanying email along with the confirmation of your order. Asking you about your purchase experience and whether or not you’d would you be willing to leave a review about it.
Although this is different when trying to get product reviews as opposed to CX. Review requests have to be staggered after the purchase as the consumer needs time to receive and interact with this product before an opinion can be established.
Asking all your customers for reviews is an effective approach as customers with bad experiences will likely leave a review regardless, but this process will prompt other customers to leave reviews. However, the ones who walk away having an enjoyable experience will be more than happy to but usually need a little push in doing so.
Net promoter scores (NPS) are a great barometer to track the loyalty customers have towards your brand. Often held up as the gold standard to customer experience metrics and achieved through one simple question. “How likely is it you would recommend [Organisation X/ Product Y/ Service Z] to a friend or colleague?”
Through this you can distinguish which one of 3 categories your customers fall into.
Promoters scoring 9-10 typically loyal
Passives scoring 7-8 they are satisfied but not enough to become promoters
Detractors scoring 0-6 these are unhappy customers who are unlikely to buy from you again and may even discourage others from buying from you.
The best time to do this is right after the sale has taken place whilst the experience is still fresh in their mind.
With incentives, you’ll be able to attract buyers who never usually interact with your brand. Usually, a happy customer will leave with a pleasant experience but rarely leave a review.
Why is this? Well, a good experience is a smooth one, which often goes unnoticed and unless prompted buyers can often be left lost as to where they should express their views. There are so many review platforms out there who knows which ones people actually pay attention to.
Offering gentle direction as to where a customer should leave a review can instil all the confidence that is needed to leave one. But in the cases where this isn’t enough, offering simple incentives such as discount codes, into your after sales process will gain you access to large sets of review data.
Offering some form of incentive allows you to play to people’s nature of reciprocity. There’s a level of discomfort to feeling indebted to someone so take advantage of it and hope it persuades some consumers into leaving a review. Not to mention bringing them back to your store to use the discount code.
"92% of consumers trust organic, user-generated content more than they trust traditional advertising.”
Depending on the implementation this can help produce a stream of User Generated Content (UGC) which is invaluable social proof to help other customers convert.
The last step is to keep any interaction after the sales process direct. By personalising the content you dispatch consumers will be much more inclined to engage with it.
Although this should only be taken advantage of if you have the means to carry it out effectively. Needing to rely on pre-existing data sets will leave any brands without access to this digging themselves a hole they might not be able to get out of.
Personalisation done wrong can quickly become annoying and alienate your customers. A misspelt name or incorrect title will immediately cause your audience to switch off. Worst cases of this can even force consumers to disengage with your brand completely as it comes across as obnoxious and intrusive.
Amazon has been caught culprit of this by making simple mistakes like advertising the same product customers have just finished purchasing. This does nothing but paint your brand in a bad light in the eyes of your consumers.
According to Experian, personalised marketing emails received 29% higher open rates and 41% higher click-through rates than those without. Which we covered in our blog about why data capture is necessary to grow your brand.
“Companies that use any form of personalised marketing typically increased total sales by 19%.”
Data Capture as part of your aftersales strategy
Ensuring there is some kind of data capture system in place within all companywide strategies should be a long-term goal for any business. Utilising sales data in your customer retention strategy is quickly becoming a base component for any sales organisation and should be at the forefront of your mind.
With the right information, data quality and insight on who you’re selling to you are better able to dictate how you interact with your customers. Opening the door to meaningful interactions and most importantly responsive engagement. Which can give you valuable customer feedback as to how your product is being interpreted in the real world and what you can adjust to better cater to their needs.
If you’re interested in a smart data capture solution for your customer retentions strategy or any other for that matter get in touch below.
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