It’s a question as old as business itself: how well do you know your customers?
Any company worth their weight will argue that they know their customers inside and out, and consistently deliver the products and service they demand. That said, even those with marketing strategies centred around their target buyers often lose sight of the individuals that make up that group of customers; who they are, what makes them tick and what makes them buy. A recent study by IBM has revealed that customers, who businesses claim to know so well, often don’t feel valued or understood. Nearly 80% of consumers say that brands don’t know them at all.
This is a surprising statistic when companies have customers’ data at their fingertips and can get in touch with them at the click of a button. You don’t have to be a data wizard or digital guru to understand your customers’ behaviour and preferences. We all know about the benefits of measuring the metrics of email marketing campaigns - open rate, click-through rate and so on. But what about those linked to wider business success? Brand loyalty, customer engagement and customer satisfaction metrics can all monitored through your email marketing efforts too.
Customer satisfaction metrics
With user-friendly online tools like Google Forms available for free, building and sending surveys to customers couldn’t be easier. Simply emailing out a feedback survey is a good first step for understanding your customers’ experiences with you. To get as many responses as possible, keep your survey short, simple and direct, with a mix of closed and open-ended questions to capture a range of views and suggestions. Also, consider offering a prize for those who complete the form to encourage participation.
Large-scale customer survey campaigns that run on social media platforms are all well and good, but emailing the right survey to your customer database can provide the same intelligence for a much smaller investment. The result? Informative and actionable customer insight which you can use to improve your product, service or marketing.
Recommendation and Net Promoter Score (NPS)
For a simplified ‘out of ten’ rating, consider emailing out an NPS survey. A Net Promoter Score is a measure of customer loyalty based on asking one question: How likely are you to recommend this product or service? Anyone rating you a nine or ten will consistently recommend your business. Those answering seven or eight would not deter anyone from buying anything from your business. Customers giving you a score of six or less are highly unlikely to recommend your company to friends and family.
Sending NPS surveys at certain points in your customers’ journeys will show where engagement levels are highest, and which points are proving most customer-friendly.
Triggering email campaigns based on a buyer’s stage in the customer journey can be tricky, but fear not. Going back to basics and ensuring you're keeping track of who opens and responds to your email campaigns also gives a pretty clear sign of how well your company is engaging with customers. If the majority of your emails are being left unopened and links to branded content being left unclicked, it’s clear your messaging isn’t working very effectively.
It’s not enough to know your customers are mostly men, aged 28 – 35, living in urban areas. Digging into the details of how people in that demographic engaged with your email communications and spotting trends based on those metrics will build a richer customer profile. The combination of simple metrics and sophisticated market research can be used to design a highly personalised customer experience.
Email marketing offers invaluable analytics to brands. Monitoring metrics based on brand loyalty and customer satisfaction and using this information to guide your wider marketing efforts helps attract new customers and retain those you already have. The best bit? Email metrics are available from the moment you’ve pressed send – a tried and tested way to get to know your customers, stay on top of their demands, and ensure your company always comes highly recommended.
Want help measuring metrics such as these via email? Talk to Marc @ Winbox.