Customers often break up with brands that ignore them.
For instance, although 90% of retailers are active on Twitter, only 29% use it to engage with shoppers. That's just one example of why customers may feel the relationship with a brand is one-sided. And no one likes a one-sided relationship.
The feeling of unreciprocated admiration will often cause customers to break up with brands.
On average, a business loses about 20% of its customers just by failing to tend to customer relationships. According to the following infographic by 360connext, that number can be as high as 80%.
But do customers really expect brands to respond immediately to their questions? Not all do. Half of consumers would give brands a week to respond to their question. Any longer than that, though, and consumers will likely take their business elsewhere.
Moreover, brands can't assume that lost customers will be wooed back. According to the infographic, a business has only a 20%-40% chance of winning back a former customer. So, why not instead focus on retaining customers and maintaining healthy relationships with them?
You can find more stats about customer breakups and tips for keeping the spark in your relationship with customers in the following infographic:
Continue reading "Customer Relationships: Breaking Up Is Hard, Making Up Is Harder [Infographic]" ... Read the full article
MarketingProfs provides thousands of marketing resources, entirely free!
Simply subscribe to our newsletter and get instant access to how-to articles, guides, webinars and more for nada, nothing, zip, zilch, on the house...delivered right to your inbox! MarketingProfs is the largest marketing community in the world, and we are here to help you be a better marketer.
Sign in with your preferred account, below.
You may like these other MarketingProfs resources related to Customer Relationships.
Explore how strategic gifting can be leveraged at every stage of the sales funnel to capture attention and express appreciation.
Storytelling is one of the most effective ways to build a connection with your audience. But how can marketers build narratives that resonate with customers on an emotional level? Here's what brand storytelling involves, why using empathy to drive narratives is important, and how to do it.
As marketers, we know that effective marketing puts the customer first. But how do we do that? How can we harness our most human of superpowers to deliver real value both to the customer and to the business? Start using empathy in marketing.
The pandemic has disrupted business (and life), and everyone is scrambling to adapt. Instead of enticing buyers with a promise of "better" as you likely did before COVID-19, you now need to do more: You need to make your sales offers far more valuable than ever.
The needs and wants of customers have shifted dramatically in the past two months, and companies that continue to move forward without adjusting will struggle for some time to come. Here are four ways B2B companies can provide helpful, impactful, and timely customer experiences during the pandemic.
Because of the pandemic, companies are reconsidering how they communicate with their audiences. Many are unsure whether they should communicate at all, and some are uncertain what form their communication should take. This flowchart will help you make the right decisions.