May 31st, 2021
Social Media Engagement Strategies for Customer Retention
This is part 1 of a 4 part series on Marketing Strategies for Customer Retention.
Harvard Business Review Study:
- It’s 5-25x more expensive to acquire a new customer than to keep an existing one.
- Increasing Customer retention rates by 5% increase profits by 25% to 95%
Most Effective Digital Marketing Tactics: for Customer Retention:
From GigaOM Research, found at Marketing Charts.com
Most Effective Digital Marketing Tactics for Customer Retention:
Part 2- Content Marketing – 37%
Part 3- Social Media Marketing- 32%
Part 4- Referral Marketing- 26%
Engaging with your Customers on Social Media
- Know your purpose! Connecting with your customers on social media in order to:
- Build Rapport
- Social Media is an opportunity for your brand to connect personally with your audience, which is something that traditional advertising can’t do.
- You can put faces to names. Let them see the personal side of your company while staying on brand.
- Make customers feel special
- Offer special promotions or deals exclusively to your customers who follow you on social media.
- Engage with your customers
- Engage with them, reply to their comments and feedback
- Improve Communication with Customers
How to connect with your customers?
- Bring Value
- Don’t just brag about your brand
- Create outward-facing social messages that bring value
- Offer things to your social media followers that they won’t get anywhere else .
- A survey from Nielson noted that 53% of people who follow brands on social media do it to learn about offers.
- Always Be Positive and connect emotionally:
- Curiosity
- Amazement
- Interest
- Astonishment
- Best, Funniest, or Cutest
- Know your audience
You may already know your customers, but specifically which customers are on which social media platform?
Remember Ages range
Facebook – 2.7 Billion Worldwide Users
Age Groups
25-34 (26.3%)
35-44 (18.2%)
Gender: 44% female, 56% male
Instagram- 1 Billion users
Age Groups
25-34 (33.1%)
18-24 (22.8%)
Gender: 57% female, 43% male
Twitter- 187 million users
Age Groups
30-49 (44%)
35-44 (18.2%)
Gender: 32% female, 68% male
*Twitter users are more educated and more likely to be democrats than the general public
LinkedIn 738 million
Age Groups
46-55
Gender: 49% female, 51% male
Pinterest 400+ million
Age Groups
30-49
Gender: 78% female, 22% male
RESOURCES MENTIONED DURING THE PODCAST
https://sproutsocial.com/insights/new-social-media-demographics/
https://qz.com/1707287/use-of-facebook-among-senior-americans-has-doubled-over-recent-years/
More about the Nielsen Study:
https://blog.twitter.com/en_gb/a/en-gb/2014/10-reasons-why-people-follow-brands-on-twitter.html
Meforming versus Informing:
