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As all entrepreneurs will tell you, building a business is difficult. In the SME space, especially, knowing where to concentrate already limited resources can feel overwhelming.
Image credit: Tumisu from Pixabay.
This is as true of customer communications as it is of any other aspect of the business. What channels should you focus on? What kind of content should you send out on those channels? And how frequently should you be communicating with your customers?
While a lot depends on the nature of the business and what it’s trying to achieve, there are a few basic things every business can do to ensure that its communication strategy is as effective as possible.
There’s a lot more to be gained by engaging with loyal, existing customers too. Research shows that the probability of selling to an existing customer is 60 to 70%. By contrast, the probability of selling to a new potential customer is just five to 20%. Even more significantly, 80% of a business’s future profits will come from just 20% of its existing customers.
It’s also worth noting that it can cost five times as much to acquire a new customer as it does to retain an existing one.
Make it worthwhile
Of course, if you want to build up a database (even if it only includes your existing customers) – you have to make it worthwhile.
In most cases, that means establishing a loyalty programme.
Today’s technology means that it’s easier than ever to build these programmes and get customer details as well as information about what they’re purchasing. Used effectively, this data can help bring new levels of personalisation to your customer communication – increasing its effectiveness.
But data-driven personalisation alone isn’t enough. Your communication still has to be relevant, look good and engage meaningfully with everyone who sees it.
Right communication, right channel
That means a business can’t simply provide its customers with discounts and offers. It needs to work seriously on ensuring that its most loyal customers are included in their growth story.
Examples of how to do this include sending out communications detailing new product offerings and locations, profiling new high-performing staff members and any relevant customer case studies.
But an ordinary SMS can only do so much. Using Smart SMS technology, you can effectively use the number of characters that make up your SMS as a subject line, before leading your customers their personalised landing page with content that’s unique to the individual customer.
Greg Chen is the CEO and co-founder of Mobiz. He has a long history in the South African mobile space and is passionate about the role technology can play in engaging the country's people across the spectrum.
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