As companies and brands, we are all in the business of attracting new buyers, in hopes of turning them into loyal customers and ultimately reaping the benefits of customer lifetime value. While marketers are putting time, money and effort into these campaigns, a recent Accenture survey on customer loyalty found some disappointing stats. They determined that only 28% of consumers are loyal to their brands, and 31% are willing to recommend a brand to others. These numbers are much lower than many companies want to see Tweet .
While it may be getting hard to get the attention of the general buyer, one concept many companies overlook is honing in on targeted customer segments instead. Three examples of customer segments are the military community, students and teachers. All three segments are more loyal than most consumers and are the perfect brand ambassadors. Here are two ways your company can effectively connect with customers from targeted segments and keep them coming back. Tweet
Connect on a Personal Level
Many consumers base their shopping preferences on the personal connection they have built with a company. Consumers not only want to know that you are listening, but also that they are heard and appreciated. Teachers, military members, and students are all markets that companies can connect with by supporting their cause and giving exclusive offers as a “thank you for your service to our country,” as a “thank you for teaching our children,” or as a “reward for committing to completing their education.”
Companies can now use eligibility software to recognize and reward those exclusive markets. This makes your customers feel truly special; they will respond to your messaging because it is relevant to them and they will keep coming back for more. A recent survey done by SheerID found that within the military community, specifically:
- 71% are more loyal to companies that offer military-specific discounts
- 63% will recommend brands that honor military discounts to their friends and family members, even if their loved ones can’t take advantage of the military offer
Macphun, a photo software company, is an example of a business that does an excellent job of connecting with the military, student, and teacher market segments. They offer a 50% discount off qualifying products on their site for all three segments and use eligibility software to recognize the customers that qualify.Offering this exclusive discount not only helps Macphun to show their support for military members, students, and teachers, but also helps them to create loyal customers based on the personal connection they felt through a receiving an exclusive discount.
Make It an Experience
One way for companies to take their personal connection to another level is through creating an experience for those customers who are a part of the selected targeted segments. There are hundreds of ways that companies can create positive experiences. Offer targeted groups tailored landing pages, sneak previews of new product lines, pre-purchase opportunities, after-hour access to local stores, the assistance of a personal shopper, or even through hosting exclusive appreciation days for a specific segment.
ABBYY is an example of a company that creates a unique buying experience for each of their targeted audiences. Buyers are directed to a special landing page pre-populated with products, content and discounts specific to each audience. The resulting positive experience can play a huge role in building loyalty and increasing customer lifetime value.
Next time your company is looking to attract new customers keep in mind that segmented markets are waiting to be targeted to and connecting with them on a personal level and helping to create experiences is the key to keeping them as long-term, loyal customers.