Using the 80/20 Rule for Brand Management
The 80/20 rule is used in many different aspects throughout the business world. Within marketing, 80 percent of your ROI can come from 20 percent of your actions. Think for a second about what are the best things about your business and your online presence. Are they a part of the 20 percent of your actions? If not, here are a few things you can do to ensure that you are managing your brand effectively.
Focus on Your Current Customers
According to Invesp, it costs five times as much to attract a new customer, than to keep a current one. Keeping your current customers satisfied is your key to success. Look at your customer service strategy in-depth and see where there is room for improvement. Offer more than just phone support should they have an issue and need to reach out. See how you can improve relations with your current customers and what some of their issues are when shopping from you.
Know Where Your Customers Talk About You
Figure out where your customers would want to get information from you. Know what social media channels your buyers use and ensure that you are on them. Maybe you find that e-mail blasts get high click through rates and low bounce rates on your pages. Creating an omnichannel strategy is one way to improve your customer’s experience.
Have A Clear Vision
As a seller, you want your customer to know why they should buy from you, versus the competition. Make your companies values clear in all communications you send out. If you do a lot for your community, consider adding a page to your site letting your users know or creating a blog post on an event your business sponsors. If you offer services to a niche audience, let your users know that as well.
Personalize The Experience
Marketing is becoming more about person-to-person relationships, and what you can do to personalize each customers shopping experience. Personalization is a challenge of many brands, yet is a rapidly growing trend for eCommerce sites. Offering them customized content based off of their needs, an easy-to-use eCommerce store, and good customer service are just a few ways to keep that 20 percent of your customer base satisfied.