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The key to building a successful brand is to resonate with your customers. That’s a challenge for any brand at any time. But 2024 will be even more difficult than previous years.
First, the days of purchasing third-party customer data based on tracking cookies to retarget customers on social media and across the internet are coming to an end. Complicating matters, most of the available retargeting ad inventory is expected to be depleted by the 2024 political campaign season. And finally, social media fatigue is setting in overall.
But when one door closes, another opens. The above challenges simply represent the end of an old era, which means we are at the beginning of a new era. In other words, it’s an era where brands establish authentic (and therefore stronger) relationships with their customers and build long-term customer loyalty.
The result is a win-win for everyone. Brands gain better, actionable data and insights into what their customers want. When applied correctly, this means customers receive more relevant, timely, and personalized offers through their preferred channels.
And it’s all possible by following three simple steps: Find your audience. Let’s get to know them. Turn them into superfans.
Here we provide a brief overview of each of these steps based on the latest recently published data. Marigold 2024 Global Consumer Trends Index report.
Related: How to build authentic relationships and customer trust
1. Find your audience
The best place to find your audience is by looking at the people who visit your website. Converting visitors into customers is Relationship Marketing 101.
For too long, brands have relied on tracking cookies to accomplish this. But not only are cookies disappearing, but customers don’t like them. However, they prefer more relevant offers based on their interests and preferences.
Consider the following insights from the Marigold Consumer Trends Index.
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Indirect tracking tools such as third-party cookies are considered “creepy” by 61% of customers. However, 68% said it would be “cool” to receive an email reminder about items they forgot to add to their online shopping cart.
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Getting ads from unknown brands based on location is once again considered “creepy” by 64% of consumers. However, 59% have no problem receiving messages based on their interests (hiking, running, etc.).
I mean…stalking is creepy. Conversation is cool. Therefore, a more novel strategy is to make each site visit an opportunity to connect. On-site forms and interactive experiences give brands the information they need to make the right product-market fit decisions at a much more granular level than just notes about which web pages are visited. Can be collected directly.
By establishing an interactive experience on your site, you can analyze consumer interests, organize them into customer segments, and ultimately provide personalized offers based on consumer preferences.
2. Get to know them
Once you convert unknown visitors into established contacts, you can get to know them even more by providing them with useful and interesting content. After all, your customers have all the information you need to know. All you have to do is just ask. Data captured in this way is called “zero-party data” and is the most valuable information you can collect.
Of course, you need to give them a reason to do so first. The vast majority of consumers are willing to participate in value exchanges, where they exchange personal data about themselves in exchange for something of value or interest.
According to the Marigold Consumer Trends Index, “value” in value exchange can take several forms. Saving money is the biggest motivator. The majority of consumers prefer discounts/coupons (91%), loyalty points/rewards (89%), early/exclusive access to offers (83%), chance to win something (81%), and content. They see value in unlocking (60%). ) and brand community (55%).
But money is not the only motivation. Customers have their own data needs. Exclusive content like previews, ebooks, guides, and other niche insights make it easy to collect zero-party data through “cost-of-participation” participation in surveys, polls, and quizzes.
Surveys are one of the leading forms for collecting zero-party data. These can take a variety of forms, from new customer surveys to surveys about their experience with your product, their thoughts on products they would want in the future, and even why they stopped buying your product.
Make sure your research is properly conducted. Our own global research shows that 66% of consumers are more likely to respond to a brand survey if it is easy to complete, and another 55% are concerned about how the survey is used as a factor (e.g. (e.g. to provide information for the development of services). ).
Collecting zero-party data allows you to create highly personalized and dynamic content, product recommendations, coupon codes, and promotions for your most loyal (and valuable) customers, so do it right. is important.
Related: 7 great ways to build long-term relationships with your customers
3. Make them a super fan
Relationship marketing is about more than just finding and getting to know your customers. Maintaining customer loyalty is also important and there are many ways to achieve this.
First, talk to your customers using the information you gathered in the steps above. Personalized emails and texts Delivering messages at the right time and providing relevant, actionable information helps customers feel heard and appreciated. can. Both are important first steps to establishing customer loyalty.
by According to the Marigold Consumer Trends Index, more than half (51%) of consumers still report dissatisfaction with receiving irrelevant content and offers. Meanwhile, 85% of consumers say their favorite brands treat them like an individual, and 78% of consumers are more likely to receive personalized offers based on their interests. is the answer.
However, that can be difficult unless your email/messaging platform is integrated with a zero-party data collection platform. Relationship marketing requires an integrated approach with clear connections from the first step to the last.
Of course, using data collected from users to create personalized messages requires being sensitive to privacy concerns. Respecting these concerns opens up new opportunities for brands to create and maintain customer loyalty. According to the Marigold Consumer Trend Index:
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77% of consumers cite data privacy policies as important or very important to maintaining loyalty, second only to product options and availability, but even more important than customer service and support.
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Almost half of consumers don’t trust social media platforms with their data, and 68% actively share less data with social platforms due to concerns about how their data will be used .
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63% of consumers pay more Because they shop with brands they are loyal to.
- Over 70% of consumers cite customer service/support, offers/promotions, data privacy policies, product/service quality, options, and availability as important or very important to remaining loyal .
Related: This digital media expert shares 6 pillars of brand loyalty for every business
Remember, loyalty is earned in many ways, through every customer interaction. In other words, you need to build loyalty through authentic and personalized communication, respect for customer privacy, and of course products that meet customer needs.
Like any good relationship, customer relationships are not transactional. The journey from point A to point B doesn’t end with a sale. It’s a cycle…a continuous virtuous cycle. Because relationships are established as a result of good marketing. And the best relationships never end.