Why Digital Marketing is Essential to Today’s Businesses.

Why Digital Marketing is Essential to Today’s Businesses.

Digital Marketing is much more than creating a website or a page on social networks. Companies that don´t have an online strategy stay behind and get outdated compared to the competition. Not to mention they lose interest from the public. Are you going to let your company fall behind? Digital segmentation. Digital allows segmentation. When you place advertising on a newspaper, you have no idea how many people see it. Yes, there are ways to know how many people have bought the newspaper, but that doesn´t guarantee that they saw your ad. And whoever sold them the newspaper will not be counting the gender of the customers or their age to tell you. Digital Marketing offers you a 2 in 1. It can be the newspaper where the ad is, and the seller to give you all the data you need. Another important aspect is the detailed evaluation of the results obtained from the implementation of a particular strategy and its redefinition. It is essential to know what has worked and what has not. And almost immediately you know what adjustments you need to make. All this serves to tell you that investing on Digital Marketing will make you stay ahead of your competition. You will know your audience and how to speak to them in a language that they understand. In addition to this, online makes life much easier for customers, who have little free time and appreciate the convenience. Therefore, something simple like the possibility of buying a product online can make the difference between your success and that of your direct competition. The easier you make...
The Importance of Customer Loyalty in the Modern Business World.

The Importance of Customer Loyalty in the Modern Business World.

As a follow-up to the last post about the Advantages of Customer Retention and to help you on this subject, we prepared this post so you can understand a little bit more about Customer Loyalty, why it is so important and how to apply it in your company. What is Customer Loyalty? One of the main factors that characterize customer loyalty is consumers re-acquiring the services or products of a company with a certain frequency. Taking into account that this frequency is completely different depending on the products or services acquired (for example we can’t compare how frequent someone goes to a bakery to buy bread, to how frequent the same person goes to an auto repair shop, to get their car revised or fixed). To really know if customers are loyalty to your brand is it necessary to have common sense and find out if, when they needed it, they went to your business or not? Loyalty is making your service, product, and service so special that when your customers need it again, they will not think twice and will buy from you again. The goal is to make them continue, on a frequent basis, acquiring and thus resisting the offers of the competition. Therefore, it becomes totally important these days to think of customer loyalty strategies. Why Investing in Customer Loyalty Strategies? Proposing and promoting a product or service that meets the needs of customers is not everything. Customers are increasingly involved in a network of social, psychological, environmental, political and technological elements that simultaneously interact to define their consumption decision. By retaining loyal customers, the company...
Customer Retention – What is it and Why Does it Matter for Your Business.

Customer Retention – What is it and Why Does it Matter for Your Business.

It’s the customers that move any business. A company can opt for a strategy in which its main purpose is to acquire new customers and to sell regardless of who is buying or, instead, focus on retaining current high-value customers that make continued purchases. Here are some Customer Acquisition Vs. Retention Statistics: Acquiring a new customer can be up to five times more expensive than retaining an existing one. Increasing customer retention rates by only 5% can lead to an increase in profits of between 25 to 95%. Existing customers are 50% more likely to try new products and spend 31% more when compared to new customers; The success rate of selling to an existing customer is 60 to 70%, while the success rate of selling to a new prospect is 5 to 20%. Even with the obvious benefits of Customer Retention, according to the same study, 44% of the companies admitted focusing more time, energy and resources on acquiring new customers, rather than striving to preserve a customer they already have. Only 16% of companies focused more on retention. Of course, the maturity stage of your business will have an impact on your strategy; if you have a new business, your focus should be on acquiring new customers. However, if you have a more mature business, you should also focus on retaining your existing ones. Customer identification and engagement are techniques applied since the time when small business owners knew their buyers very well and had important information about them, such as birthday dates, consumer preferences, and where they lived. Over time, it was noted that this relationship...