The rules in digital marketing change pretty fast these days, and it might be complicated to understand what are the main marketing trends, how happy are your customers with your service or what MarTech solutions should you choose to get an edge over the competitors.
More and more frequently, customers can clearly define the type of goods and services they want to get – and as well – they expect to be treated personally. The value of every customer grows exponentially, as well as the role of hyper-personalized marketing and client retention.
In such a competitive environment, you can’t afford to make any elementary mistakes that may, nevertheless, have a dramatic effect on your business. To prevent you from losing clients in 10 days, we will highlight the main points you need to pay attention to if you want to maintain loyalty and keep winning new customers in 2023.
Day 1: Insufficient Client Screening
Quite frequently marketers have to question themselves. This includes how often they need to collect data about their clients, get feedback, arrange surveys, or analyze their data. The practice shows that the more often you do it, the better. Of course, it is not recommended to become annoying, but if you have a scheduled contact with a customer, think about how you can use this opportunity to collect any valuable pieces of information that can supplement the client profile. Nowadays, many data collection and storage processes are automated so that AI-powered systems may collect and process personal data with minimal human intervention.
Tip: Aim at making a cluster of one scale your standard for client personalization, since every non-individual approach to client screening can be regarded as a compromise these days. Secondly, you need to adopt clear standards for client screenings within your company policies – define terms, conditions, methods, tools, etc.
Day 2: Incorrect Pricing
There are many ways how the pricing may influence the success of your goods or services. When we are talking about the development of new drugs, the pricing should be clearly defined even before the research process is launched, since it is important to understand what particular audience are you targeting. Also, you need to understand if they will be able to pay for the new drug in 10 years when it finally reaches the drug store shelves and counters and does it really benefits the population you are targeting.
Tip: When you are a MarTech software supplier, loyalty programs really work well with the clients. Also, always consider flexible pricing solutions and free-of-charge trial solutions, keeping the competitor’s rates in mind.
Day 3: Disregard Client-Stuff Relationships
The relationships between particular brand representatives and your customers can be far more important than you think. Well, sometimes a personality may play a very influential role, and you, as a top manager, should be aware of them. Clients tend to form relationships with brand representatives, and their loyalty may be very much rooted in psychological identification. In such cases, the sudden staff turnover can have a drastic negative influence on your communication with clients. In any case, you should always have a clear understanding of how the brand representatives perform and how different styles of communication help them to fulfill their duties.
Tip: Don’t forget to receive feedback from both clients and reps working with them. And don’t hesitate to learn and adopt the best practices from your representatives.
Day 4: Building Unrealistic Expectations
Sometimes even a little exaggeration can be very tempting, and you can really take the potential customer to the next level of the journey. However, as we mentioned before, the value of every customer is so high these days for the majority of businesses, it is just not worth it. Even if the boldest of your promises can lead the customer straight to your sales manager, even the slightest differences from the initial source may have a truly devastating effect. Remember, sometimes it is better to leave the empty valuable on your website than to provide your customer with terms you can not stick to.
Tip: Any type of disinformation is a noticeable failure. However, I would also recommend avoiding even any confusing, reference-arranged information, small print, etc. Clarity always associates with safety, trust, and openness, which are appreciated so much as the cornerstone qualities of a modern brand.
Day 5: Aggressive Sales Strategies
Today the sphere of sales is as far from being a messy carnival of offers, emails, and poorly targeted rep calls as it used to be for quite a long. It is very advisable to avoid any aggressive sales tactics or attempts to convince someone directly. Even if you managed to acquire a customer’s personal data after a confirmed purchase, you need to base your interactions only on value-based tactics and, of course, always provide any instant feedback opportunity.
Tip: Even if your budgets are tight and your ambitions are high, you still need to avoid any hint of suggestion or obtrusiveness by any means. It is always better to invest in some simple, yet effective channel, like email marketing. Being on the market for over a decade as a MarTech provider, I can assure you that advanced email marketing solutions can provide marketers with creative tools, client analytics, production, storage capacities, and other features that will help to catch the attention and make major emphasis on the value of the offer.
Day 6: Neglecting The Importance Of The Personalized Approach
We need to admit that the personalized approach is no longer that effective in 2023. Cluster-based customer segregation really can provide a brand with lots of information and, still, it does not allow us to treat every separate customer differently, but only based on what we know about the cluster. Hyper-personalization technologies offer a deeper, cluster-of-one approach to client treatment, which proves its efficiency as the clients’ standards and self-awareness become stronger within the market relationships.
Tip: Personalization at scale is impossible without bringing all your tools and databases into a single, centralized content and client management system. A Viseven case study shows how all-in-one content factories allow brands to speed up time to market by up to 45% and provide a better, truly thoughtful personalized customer experience.
Day 7: Inconsistency In Politics And Services
It is right that your brand needs to live up to constant changes to stay afloat and stay competitive. However, this pursuit for change and innovation should also be accompanied by some company principles that, at the end of the day, serve as a firm foundation for it. You may call it a mission, a vision, company politics, or company philosophy. In reality, it is a bit of every notion mentioned. The customers can be attracted to the company image as well as they can be bounded with your representatives and values. Even when planning a big rebranding, you need to ensure that you are still presenting the values that make your customers identify with your brand.
Tip: Maintain social and educational projects that might be aimed at increasing the level of healthcare of the population and affecting their well-being positively. Highlight how you take action to support your brand philosophy, and mission by taking direct action to prove that you are ready to make a change.
Day 8: Underestimating Competitors
You should always keep an eye on the underdogs and try to learn from the industry’s top players. It is probably never been so easy to start your own online business as it is these days, so businesses start relying less on investment and more on perspective ideas. Always make sure that you can keep an eye on all the best ideas that are introduced by your competitors.
Tip: Use your exhibition/venue time to make research, since it’s always a great opportunity to get to know competitors directly. Ideally, always make sure that you have at least three advantages over your competitor’s offer, that you can present to your client.
Day 9: Lack Of Innovation And Creativity
That’s right, on the one hand, your brand image should remain consistent but on the other, it should be creative. There is a certain balance that should always be maintained between old and new, trustworthiness and innovativeness if you like. This means that you can not escape the global trends and time-to-time the creatives have to be renovated before becoming noticeably obsolete.
Tip: In our experience, innovation is vital for both company clients and the team itself. Eventually, it is even more important for your collective, so it can exist in a thought-free, creative environment that is the principal staple for maintaining your staff motivated, inspired, and goal-oriented.
Day 10: Ignoring MarTech Solutions
One of the biggest mistakes you can make today is to underestimate the latest MarTech solutions that are revolutionizing data collection and storage, creative asset production, targeting, asset tagging, customer behaviour prediction, and impacting many other practices. Such solutions like all-in-one content factories, omnichannel solutions, or AI-powered analytics will help to boost, facilitate and automate many of your marketing processes. Note, that every time you are delaying the renovation of your MarTech stack, your competitors are already embracing the benefits of advanced marketing technology.
Tip: In case you are new to MarTech, learn why all TOP pharma companies heavily rely on MarTech solutions for pharma and life sciences and how it helps them to get better results.