This marketing strategy will drive sales & business growth post-Covid
Guest post: Courtney Wylie VP Product and Marketing, Mention Me.
The marketing landscape is dramatically different to six months ago.
Budgets are frozen. Events are cancelled. Consumer behaviour has changed.
In fact, 86% of consumers say they’ve changed their behaviour as a direct result of Covid-19.
This may cause marketers to panic and throw their limited budgets at paid digital marketing channels like pay-per-click (PPC) advertising.
But these channels are set to aggressively rebound in cost and deliver fewer returns.
Instead, marketers should turn to their existing customers.
A strategy for success: customer-led growth
By putting customer engagement at the forefront of their marketing strategies, brands can turn one-off transactions into happy lifetime customers. These customers shop often, spend more and recommend your brand to others – driving down acquisition costs and significantly increasing long-term revenue.
We call this approach customer-led growth.
While traditional loyalty programmes incentivise customers who are already loyal, customer-led growth goes beyond these constraints to build loyalty into the full customer lifecycle.
Customers want brands that they relate to. Brands that actively share their values and interact with them as real people. Brands that, for example, seek their feedback and visibly act on it. Not brands that send out email blasts encouraging them to buy shoes sold out in their size.
Read the full article here.
