- On this blog post, you'll learn:
- Why relationship marketing is relevant for the buyer's journey;
- How these strategies can affect the entire sales funnel;
- What are the main relationship marketing KPIs.
Relationship marketing is the future of successful businesses.
If you've been following our blog recently, you must have read our latest blog posts and can now understand relationship marketing as a smart and powerful way to talk to clients.
After all, it allows you to nurture and cultivate a long-lasting relationship, meaning you have a strong MRR and many opportunities for upselling.
Furthermore, it's a way to combat and reduce churn, keep your evaluations positives and provide an excellent service (and conquer the world, maybe). Think of yourself as Neo, from The Matrix (1999), being able to control everything around you, and dodging (or stopping) bullets (the main problems related to client-company communication).
In our last post, Relationship marketing: driving customer loyalty at first talk, specifically, we hinted at the fact that a good relationship marketing strategy can affect not only the client, but all the leads in every stage of the funnel. That's what we're going to talk about in this content.
Why is relationship marketing relevant for the buyer's journey?
When you think about the way you're treating those who contact your company, what do you see? Is there a long wait to be able to talk to your sales team? Or maybe too many click baits that end up making your visitor annoyed? Can they get a straight answer about an instability of your SaaS product? Basically, would you like to be treated that way by another provider yourself?
If the answer is no, you need to think about broadening your relationship marketing strategy to your entire company. By doing that, you'll:
- Reach and attract more people;
- Start to build a relationship from the very start;
- Have better success in converting in less time.
Let's see how you can do that?
Relationship marketing strategies throughout the sales funnel
Now it's time to plug your brain into the matrix and get ready for the action.
I'll list some of the main relationship marketing strategies, specifically technology related ones, and how they affect different stages of the sales funnel.
1. Live Chat
Attraction and Acquisition: an in-site live chat solution will make your company always available to your prospect. This means you can chat with visitors, answer questions and even provide a faster closing option. All the person has to do is ask for it: no complication, no form, no waiting.
In the worst scenario, in case you don't make a sell right away, you'll end up with the contact information of a (scorching hot) lead.
Conversion and onboarding: as we just said, in-site live chat will allow you to optimize your conversions by being able to sell quickly to those who want to buy. But live chat is not limited to your website.
It can also be used on your SaaS solution as an in-app live chat, sending messages directly to your customer success team members, improving the communication between company and client and, as a result, building effective consumer relations.
Retention: live chat offers security to your client. It means you'll help them setting up, be available for customer service, and solve eventual problems.
2. Smart segments
Attraction and Acquisition: we said multiple times on our blog and we'll keep repeating: people don't want to be treated the same as anybody else. The distant, general messages don't work anymore, especially when every other company is still doing that.
By using smart segments to personalize messages and content, you'll be personalizing experiences and perception as well. This is a powerful way to create effective consumer relations from the start and guide them more efficiently through the acquisition stage.
Conversion and onboarding: just like during acquisition, sending personalized emails focused on conversion has better results than general emails. People are more likely to buy from people than from machines, or the unknown.
And it works the same way for user onboarding. You can build and automated email flow for onboarding and use smart segments to personalize the messages according to the stage they are, what step they failed to complete or even their location. Perfect, right?
Retention: again, the same logic applies. We talked about this here, so I won't write it all over again.
3. Smart automation flows
Attraction and Acquisition: wouldn't it be perfect to have a way to guide your lead through the funnel without much work but with a high conversion rate? Well, the smart automation flow offered by Pipz does that, and it even has a drag-and-drop feature that makes everything easier.
Just create multiple flows that will fit best with leads depending on their behavior and just let them be nurtured until they are sales ready.
Conversion and onboarding: from the moment a prospect becomes a client, the relationship with the company changes, and the automation (path) they follow and messages need to follow that. Smart automation flows and smart segments, together, can create an amazing experience that will drive up your activation rates.
Retention: one of the biggest faux pas for those who work with email marketing is offering someone something they already have, or have no use for, and you should know it. Well, poorly made automation can have that effect, and create a bad impression.
Having a smart automation feature allows you to avoid those situations and perfect your retention strategy. Check out this content about lead segmentation.
How can you tell if your strategies are working?
Now that you know how these main relationship marketing strategies can work for your entire sales funnel, I'll tell you how to know if they're actually working.
For that, you need to follow specific relationship marketing KPIs, which we have talked about before and I'm sure you must already know them.
We want to know what consumers are looking for, what their values are, and how can we meet their needs. It’s not just about Big Data; it’s about translating that into the truth.
Engagement and inactiveness: knowing how many of your contacts are engaging with you and how many have no interaction whatsoever is very important to know the effectiveness of your strategy. People might not be linking your content, enjoying your email or even receiving the right ones. Be aware of those rates and make adjustments accordingly.
Specific email marketing KPIs: opening rate, bounce, clicks - they're all great ways to know if your strategies are working. We listed the main ones, with formulas, in this content about customer success metrics.
Recurrency and upselling: here, you want to focus on revenue. Are clients staying with your company for a long period of time? Are there good upselling opportunities? How efficient is your strategy on the long run? You don't want a one time purchase, you want a relationship!
The tech aspect of relationship marketing: what will you need?
To be able to implement a great relationship marketing strategy, you'll need a powerful tool focused on customer experience and customer journey.
This complete platform needs to provide you with:
- live chat;
- smart segments and automations;
- BI (to make data tracking a lot easier);
- drag-and-drop features…
everything else your company needs to be phenomenal! And that is Pipz. The good news is we are open for business so all you need to do is schedule a demo with our sales team.