Salesforce Marketing Cloud Implementation Checklist

Considerations for Making the Most Out of This Robust Tool

The below content was originated from an article published by Cloudanalogy.com on December 17, 2020.

Salesforce Marketing Cloud, a robust digital marketing tool, offers a wide range of capabilities to assist organizations of all sizes to get more value out of their marketing efforts. However, it can be challenging to know where to start when it comes to Salesforce Marketing Cloud implementation.

Let’s dive into the world of Salesforce Marketing Cloud with a checklist to ensure that your success-driven organization is set up for success.

Salesforce Marketing Cloud Consideration Checklist:

1. You Will Need Assistance

To make sure Salesforce Marketing Cloud Implementation meets your business needs, the strategy should be planned and executed well. There is no denying the fact that Salesforce is a powerful customer relationship management (CRM) that comes with hundreds of features. From the outside, everything appears so easy to set up and run.

However, things are not as easy as they appear in the first place, especially when it comes to implementing. Consider a Registered Salesforce Marketing Cloud Partner to Assist with Implementation.

2. Think Strategy Before Tactics

You may find it hard to accept, but a big majority of business owners and marketers treat Salesforce Marketing Cloud as just a powerful email tool when, in fact, it is a business-focused solution above all other functions. This is precisely the reason why your organization needs a reputed Salesforce Marketing Cloud Implementation Partner that spends quality time to know your business and takes a strategic approach to integrations, migrations, campaign planning and more.

3. Focus on Data, Data, And Data

Data is critical and of paramount importance for your business targeting and personalizing its digital marketing efforts. Therefore, it does make sense for you to start with your data model at the earliest and understand what kind of data is required by your business, what data you already have, and what data you will find to explore and utilize. You must always remember not to just plan for your immediate needs but instead on how your business can be flexible for the future too.

4. Set Realistic Functionality Goals

Salesforce Marketing Cloud, a robust customer relationship management (CRM) platform for marketers, comprises many products such as Email Studio, Social Studio, Journey Builder, Advertising Studio, and Mobile Studio. However, it is challenging to implement all of them at once. You should first concentrate on which features will be more relevant and useful for you. Over a period of time, you can incorporate Marketing Cloud products, services, and capabilities as your familiarity with them grows.

5. Work Closely with an Industry Expert

There is a good reason why you can find Salesforce Implementation Partners in the Salesforce ecosystem. They have teams of certified and experienced Salesforce Marketing Cloud Email Specialists that can assist you with almost everything in the context of Salesforce Marketing Cloud capabilities.

Getting Started

We help marketers leverage the full power of Salesforce Marketing Cloud to personalize email communications – and reach the right customers, at the right time with the right message. Inte Q’s team of Salesforce Marketing Cloud Certified Email Specialists.


Improve Customer Engagement with Salesforce Marketing Cloud Email Automation

The inbox is new again. The pandemic brought email marketing back to the forefront as it reinvented itself to compete with social media.

Out with boring, one-message-fits-all text emails and in with hyper-personalized, precisely targeted, colorful, and even animated creations that light up our screens with highly engaging offerings that educate, inform, and sell.

Email automation with Salesforce Marketing Cloud is a real game-changer, incorporating the newest technology that optimizes customer engagement and sales.

Salesforce email can increase open rates because you have the ability to target market segments with hyper-personalized messages easily. Click-through rates also may increase because Marketing Cloud gives you many exciting and different ways to engage customers and guide them to the click.

Sales go up naturally because your customers are more engaged using the most effective channel: email. McKinsey & Company tells us that email is nearly 40 times more effective than Facebook and Twitter combined.

The Salesforce Marketing Cloud experts at Inte Q can help you maximize your email strategy. Let’s take a quick look at the most critical developments in Salesforce email.

Email Hyper-Personalization and Segmentation Benefits‌

If you’ve ever signed up for an email list, you’ve gotten — and may have unsubscribed from — automated emails. The welcome series is the most common form of email automation. If you want higher customer engagement, click-throughs, and return on investment, it’s crucial to start segmenting your list with that first welcome series.

It’s easy to segment by simply asking your subscribers what their preferences are, what interests them, what their level of expertise is, or any other criteria you choose. When they click on the link of their choice, they will automatically start receiving your prewritten emails tailored for them.

You can even segment as people are signing up, before they ever receive that first email that’s so important in forming their impression of you.

Along with segmentation, hyper-personalization is the hottest, most compelling trend in email marketing. Artificial intelligence can now sift through massive amounts of data to personalize messages that generate higher open rates and increased ROI.

Your automated emails will give you a more than 25% increase in conversion rates when the link in the email goes to a highly relevant, customized landing page. Think in terms of email being the starting point in the customer journey.

Salesforce Marketing Cloud Inbox Engagement

Marketing Cloud enables you to quickly design dynamic emails that change content automatically based on data analyzed by AI.

Email marketing has now gone from personalized subject lines and greetings to hyper-personalized content. You simply create content blocks targeting each list segment. AI switches those content blocks depending on its analysis of the recipient.

Some recipients respond better to gamification, while others enjoy watching videos, and still others respond best to a combination of text and images. AI automatically sorts this out for you and delivers the most engaging type of content on an individual level.

Email Automation Help

If you need a little help working through the intricacies of Salesforce Marketing Cloud automated emails, or you want a done-for-you package, Inte Q can provide a custom solution for you. Contact Us to get started.

Learn More

About Inte Q

Inte Q helps client companies optimize customer engagement and build valuable, lasting relationships. By analyzing customer data through the application of advanced machine learning and data processing tools, Inte Q offers strategic recommendations and actionable plans to help companies reach their goals. Inte Q’s hands-on client partnerships simplify customer relationship management and help organizations accelerate their business growth.


Snowflake Partner Logo

Inte Q Becomes Snowflake Select Partner

Inte Q, a customer engagement agency, has recently announced it has earned Snowflake Select Partner status. The partnership’s goal is to further Inte Q’s expertise in developing, configuring, and launching Snowflake data warehouse solutions that drive optimal customer experiences for clients. With this relationship Inte Q will continue to strengthen its advanced data analytics and marketing optimization capabilities with a large-scale cloud-based data platform like Snowflake.‌

“As a technogolgy-agnostic company, Inte Q has always focused on leveraging the best available technologies to optimize customer data insights. Our relationship with Snowflake lets us expand the value proposition that we offer our own clients while also expanding the possibilities available to existing Snowflake customers” stated Chris Ducan, President, Inte Q.‌

Since its beginnings, Inte Q has maximized the value of customer data for their clients. The Snowflake Select partnership is a natural step in continuing to achieve this mission, providing users with a data warehousing solution that is as accessible as it is versatile.‌

Snowflake comes to the partnership as a recognized leader in Gartner’s 2019 report, “Magic Quadrant for Data Management Solutions for Analytics.” The recognition acknowledges Snowflake’s industry-leading architecture and contribution to the data economy, as well as its strong customer focus.‌

“Snowflake is like a turbo engine for data,” says Jeremy Griffith, Senior Vice President of Activation and Data Science at Inte Q. “It’s an incredibly versatile, fully managed platform that makes it easy to store, access, share, and manage data across multiple workflows and applications. Plus, because it’s cloud technology, it’s extremely scalable for growing organizations.”

As a Snowflake partner, Inte Q has already delivered measurable results for several clients including a leading natural foods grocery store chain and a leading provider of marketing communications software, that is one of the fastest growing Martech organizations in Florida.

To learn more about what Inte Q has in the pipeline for this new partnership, visit https://inteqinsights.com/snowflake-partner.

About Inte Q

Inte Q helps client companies optimize customer engagement and build valuable, lasting relationships. By analyzing customer data through the application of advanced machine learning and data processing tools, Inte Q offers strategic recommendations and actionable plans to help companies reach their goals. Inte Q’s hands-on client partnerships simplify customer relationship management and help organizations accelerate their business growth.


Dirty Little Secrets of CDPs: What They Aren't Telling You

The customer data platform, or CDP, has received a lot of positive press in recent years. In 2019, Gartner chose the CDP as one of the four emerging trends predicted to transform technology ecosystems.[1]

Since then, major industry players like Adobe and Salesforce have introduced CDP solutions and adoption has skyrocketed.[2] The technology has definitely made its way into mainstream, but marketers are often becoming disillusioned.

Traditional Customer Data Platforms can vary from one provider to the next, these platforms can be good at helping companies improve data processing. However, they often don’t make it easy to transform customer relationships. CDPs can be great data tools, but not so great marketing tools.  To figure out why, you have to look at what a CDP is designed to do and, most importantly, what it was not meant to do.

They Won’t Fix Your Data

CDPs can solve siloed data problems if used correctly. You can use a CDP to upload your own information quickly, gaining back some of the time that companies lose when IT departments have to manually move data.

The problem is that CDPs aren’t built to easily power marketing, so they don’t always make data useful to marketing departments. Most often, they don’t improve the cleanliness, accuracy, or health of the data needed to power marketing decisions. They can’t fix data mistakes or eliminate duplicates, and that limitation can hurt your customer relationships.

For example, if you have one customer who’s listed as Elizabeth in one data set and Liz in another, a CDP can’t merge the two records and create a unified picture of that buyer. What you end up with is a customer that says “Please, call me Liz,” then calls customer service the next day and hears “Hi, Elizabeth.”

That may not seem like a big deal, but it encourages the kind of inconsistency that keeps you from creating a personalized customer experience across all channels.

Inte Q Will Take You Beyond a CDP

Inte Q goes beyond the functionality of the CDP. We start with what you want to do and focus on the data and insights that will get you there. Instead of presenting you with piles of data you don’t need, we take care of the math and provide you with the best possible next steps. We’re an extension of your marketing team, there to help you enhance the skills that you have in-house.

Contact us today, and let us show you how to make the most of your data.

Schedule a Call

What You Need

If you need help cleaning and organizing your data, you need people power. In some cases, you can ask your CDP for help, but there will usually be an extra charge involved and the CDP may need to bring in a partner.

It’s easier and you retain more control if you reach out to a customer engagement agency like Inte Q in the first place. Inte Q will look at your data and customer relationship goals and help you use your data in the best way possible. We’ll create a 360º customer view that powers intelligent marketing decisions, and we’ll help you use the information you have to make those decisions.

Download the Full Article to Learn More CDP Secrets:

    1. https://www.gartner.com/en/newsroom/press-releases/2019-08-29-gartner-identifies-four-emerging-trends-that-will-tra
    2. https://www.forbes.com/sites/danielnewman/2020/12/01/customer-data-platform-growth-continues-to-boom/?sh=6366252c5fea


    Why Settle for a Customer Data Platform (CDP)?

    There’s a lot to be said for the customer data platform (CDP). It allows a company to create a centralized customer database that provides not only information about buyers and potential buyers, but also insights that power effective marketing.

    David Raab, founder of the Customer Data Platform Institute, calls the tool “a marketer-managed system … that is accessible to other systems.” [1] Gartner speaks of the CDP’s power to unify data across multiple channels to “enable customer modeling and optimize … messages and offers.” [2]

    The CDP has great potential, and that’s part of why it’s had such an impact on the market. However, the problem is the same one we’ve seen in many new technologies. People expect it to do everything — and when it can’t, they lose faith.

    In its 2019 Hype Cycle for Digital Marketing and Advertising, Gartner placed the customer data platform just past the “peak of inflated expectations.” [3] As the CDP heads toward the “trough of disillusionment,” companies need to look at what their expectations are and whether a traditional CDP is the right solution to meet those expectations.

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    Lack of Direction

    According to a 2019 Forrester study, 68% of companies that use advanced marketing tools like CDPs aren’t able to use those tools to their best advantage. [5] The technology is there, but the organizational users lack the ability to integrate and effectively apply it.

    CDPs are relatively new technologies. It’s been only two years since Digiday called the CDP “ad tech’s hot new acronym” and three years since Forrester discussed it as one of the “top emerging technologies for B2B marketers.” [6,1] It’s not surprising that many companies still adopt CDPs looking for next-level marketing technology, but continue to rely mostly on its basic functions.

    Using the built-in functionality many CDPs offer isn’t always easy. To maximize the potential of their existing CDPs, many of our clients leverage Inte Q’s analytics and business insights team.

    68% of companies that use advanced marketing tools like CDPs aren’t able to use those tools to their best advantage.

    Data Without Insights

    For the most part, developers of traditional CDPs have focused almost exclusively on data gathering. Data is important, of course. Data is the foundation of everything Inte Q does. The problem is that data is a tool rather than an endgame, and most CDPs don’t offer enough in the way of providing data analytics with actionable insights and strategy.

    Marketers use data to achieve particular ends. They need to know how to engage audiences, optimize their sales funnels, and run effective targeted campaigns. More often than not, marketers have more than enough data to achieve their goals. Because CDPs often solve problems in silos, marketers must work harder to get to the insights they need from the standard reports and dashboards their CDP provides.  While most CDPs provide hundreds of data reports, those reports are often not configured to meet specific business needs.

    What marketers need are deep analytics, meaningful insights, and actionable strategies on how to connect with customers in order to grow their business. While CDPs bring data together and provide a strong technology foundation, they don’t provide the people power needed to uncover customer insights and provide strategic direction. And most CDPs do not offer the technology or expertise needed to launch a customer points or subscription loyalty program. So… Why settle for just a CDP?

     

    Customer Segments Without Strategy

    Building customer segments is a key piece of functionality for most CDPs. CDPs provide the foundation for building customer segments, but for the most part, they leave developing the campaign strategy up to marketers.

    It’s one thing to know about a customer’s habits as a buyer. It’s quite another to understand how that customer responds to an individual company’s promotions, offers, products, and policies in order to build effective strategies and customer segments. Most companies have the data to understand buying behavior patterns, but they are limited by what their CDP provides in terms of strategy. Marketers are forced to use their instincts, instead of data, to determine the best way to build cross-channel campaigns that drive their business in the most cost-effective way.

    To build effective customer segments in cross-channel campaigns, companies should leverage advanced analytics to tell them more about their relationship with their customers — and how to leverage that relationship to achieve maximum ROI, while also creating cost savings by reducing wasted media costs.

     

    Not Built for the Marketer

    CDPs are still relatively new, which means that many companies aren’t quite sure how to use them. It’s not a failure of the executive — it’s the fact that CDPs are often sold as data solutions, which means companies select them based on IT metrics rather than marketing needs.

    For a tool that comes pre-packaged, and without guidance, a CDP is a high-level investment. Better support needs to be available so that businesses can choose the right tool and use it well.

     

    Go Beyond the CDP

    At Inte Q, we are technology agnostic. We help clients leverage the power of their existing CDP

    or support their marketing technology needs through our Inte Q Genesis Platform. Genesis combines the functionality of a CDP with features like advanced analytics, insights, and the ability to support points-based or subscription customer loyalty programs.

    We go beyond what a traditional CDP offers – Inte Q provides the people power needed for ad hoc projects or ongoing support. We deliver the insights and strategy needed to maximize your technology investment.


    Is Your Business Ready for 2021?

    Start by Examining the Health of Your Data

    Having poor-quality data is like buying a new car and never changing the oil. That’s what Adam Nenning, Executive VP of Personalization and Marketing Automation at Inte Q, thinks. Other industry experts agree, and the data backs this up — recent Gartner research has found that organizations believe poor data quality is responsible for an average of $15 million per year in losses¹. In fact, IBM estimates that the cost of poor quality data in the United States was $3.1 trillion in 2016 alone².

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    What Is Data Quality?

    The definition of data quality varies depending on who you ask. According to Profisee, data is of high quality if it is fit for the intended purpose of use and/or correctly represents the real-world construct that it describes.

    Data quality takes the following factors into account:

    • Accuracy
    • Completeness
    • Relevancy
    • Validity
    • Timeliness
    • Consistency

    Why Is Data Quality Important?

    You already understand the value of using data to make decisions for your business. Whatever your industry — retail, financial, healthcare, food and beverage, etc. — your marketing team must have access to the right data at the right time in order to be effective. And yet, ~27% of business leaders aren’t sure how much of their data is accurate

    In the Forrester Consulting report, Why Marketers Can’t Ignore Data Quality (PDF), 37% of respondents said poor data quality contributed to wasted marketing spend, 35% said it produced inaccurate targeting, 30% said it lost customers, 29% said it reduced productivity, 28% said it resulted in a poor customer experience, and 24% said it resulted in inaccurate marketing performance results.

    Whether your business has customer data from one source or many, the possibility of waste and loss due to “dirty data” has serious implications. We’ve established what data quality is, but data hygiene is the flipside of that coin. TechTarget defines data hygiene as “the collective processes conducted to ensure the cleanliness of data. Data is considered clean if it is relatively error-free.” So, how can your team ensure your data is “clean?” You’ll have to conduct a data quality audit.

    37%
    of respondents said poor data quality contributed to wasted marketing spend
    35%
    of respondents said poor data quality produced inaccurate targeting
    30%
    of respondents said poor data quality lost customers
    29%
    of respondents said poor data quality reduced productivity
    28%
    of respondents said poor data quality resulted in a poor customer experience
    24%
    of respondents said poor data quality resulted in inaccurate performance results

    Whether your business has customer data from one source or many, the possibility of waste and loss due to “dirty data” has serious implications. We’ve established what data quality is, but data hygiene is the flipside of that coin. TechTarget defines data hygiene as “the collective processes conducted to ensure the cleanliness of data. Data is considered clean if it is relatively error-free.” So, how can your team ensure your data is “clean?” You’ll have to conduct a data quality audit.

    What Is a Data Quality Audit?

    A data quality audit is a business rules-based approach that incorporates standard deviation to identify variability in sample test results. Conducting a data audit might seem like quite the undertaking, but it’s simpler than you think. Just ask yourself the questions Capterra coins as the “ABCs of Data Auditing:”:

    • Accuracy: Is your data factually correct? For example, human error is inevitable. Can your team find a way to automate certain tasks to cut down on human error?
    • Breadth: Does your data include your desired scope and represent your population of interest? Is there a segment of your customer base that’s missing from your data collection process?
    • Consistency: Does your data adhere to specific formats and methodologies without deviations? Consistency can simply mean making sure everyone is using the same format for coding or storing information — or it may mean taking a closer look at your methodologies to ensure each data point has been consistent.

    How to Sway Stakeholders

    Your business may need a data quality audit if you’ve determined you need to:

    • Better understand your customers to improve your business decisions
    • Save money on budget or resources
    • Improve campaign performance
    • Retain existing customers
    • Acquire new customers

    But how can you make your case to key stakeholders in your company? Research and advisory company Gartner spells out the steps:

    1) Nail down your business priorities

    What are your organization’s goals? How will improved data quality contribute to the bottom line? Lay the foundation here before bringing it to the attention of leadership.

    2) Determine performance metrics

    Once goals and KPIs are established, your team must determine how to measure results. Which metrics will best demonstrate the importance of high-quality data? How will you “prove” the value?

    3) Assess your current state of data quality

    Once the scope of the business case has been agreed on, initial data profiling can begin. Carry out data profiling early and often. Establish a benchmark at the initial level of data quality, prior to its improvement, to help you objectively demonstrate the causal impact on business value and justify ongoing funding.

    4) Describe the target state of data quality

    Define your target state for data quality. Describe it in terms of how it can positively impact your business’ KPIs (and bottom line). It’s crucial that your team and your key stakeholders understand the necessity for a sustainable environment for data quality improvement. Without a plan, your data quality will rapidly revert to its previous state.

    5) Think about budget and ROI

    How much will the data audit cost your business? How much potential return could it provide? How much waste and loss will be eliminated by improving your data quality? Answer these questions and loop in stakeholders.

    Inte Q’s Data Quality Audit

    At Inte Q, our team of seasoned experts will analyze your data to uncover insights and hidden opportunities to drive strategy and achieve a higher ROI. Along with our Data Health Dashboards, an Inte Q data audit provides a powerful way to understand your customers, better predict their behaviors, and determine how to best serve them.

    With our data audit, you’ll be able to:

    • Enhance your 360° customer view and increase your understanding of customer behavior
    • Increase accuracy in analytics and targeting, leading to better insights and higher ROI
    • Review your data to identify opportunities for improvement
    • Increase your advertising reach across direct channels including direct mail, email, and more
    • Increase first-party data onboarding match rates at Google, Facebook, etc.
    • Enhance your customer service experience

    Is your team ready to start creating stronger customer connections? Contact us today to get started.


    Which Type of Loyalty Is Right for Your Business?

    Customer loyalty programs can be an extremely powerful retention tool when designed and used correctly. Consider these statistics:

    • More than half of consumers find rewards “very” or “extremely” important to their purchase decisions.
    • Only 8% don’t find rewards important at all.
    • The right incentive can make 93% of customers switch brands, even if they were previously loyal to a competitor.
    • Up to 75% of customers are more likely to make a repeat purchase after receiving a reward. [1]

    Loyalty programs work, but they have to fit the brand. One size does not fit all. A rewards program needs to appeal to a company’s unique customer base, stand out among competitors in the market, and be profitable enough to justify the expense.

    That’s why an effective loyalty strategy needs to start with analysis.

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    Loyalty Program Design: The Process

    To design a loyalty program that works, it’s best to start by figuring out what customers want. Inte Q begins this process by evaluating the competitive environment, looking at what stakeholders want to achieve, and surveying what else is out there on the market.

    It’s also important to understand the customer, looking at factors like:

    • How often they buy
    • What types of offers they respond to
    • What channels they use to shop
    • What their retention rates are

    Checking in with customers directly and finding out what values they appreciate in a loyalty program is also an effective research strategy. At Inte Q, that includes a deep dive into preferences like what motivates customers to enroll and how they prefer to get communications from loyalty programs.

    The last piece is considering how a company can shoulder the financial demands of a loyalty program. For example:

    • What will the program cost?
    • How much is it expected to generate?
    • Are subsidies and discounts available from vendors that could make the program more affordable?

    Once all of this information is in place, a company can have a better idea of what kind of loyalty program will work.

    Points-Based Programs

    Points-based programs are probably the most common type of loyalty program out there. According to Invesp, 69% of consumers join loyalty programs to earn points — that’s 10% more than those who join to save money. [2]

    Points are popular because they’re convenient, easy to understand, and satisfying to accrue. The more a customer buys, the more points they earn, and the faster they earn rewards. Rewards often come in the form of discounts or freebies.

    Points-based programs are convenient for companies as well. It’s easy to set the standard for how customers earn points — two points per dollar, for example, or tiered points based on order value — and companies can adjust the rules of the program as needed.

    A points system encourages people to make repeat purchases, so it naturally generates loyalty. It also gives companies more information about where and how often their customers spend. The points system works for companies that attract frequent and repeat purchases, such as:

    • Clothing retailers
    • Grocers
    • Drugstores and pharmacies
    • Coffee shops

    Points-based programs may be less attractive for companies with bigger-ticket items that customers buy infrequently — furniture stores, for example.

    Cash-Back Programs

    Like points programs, cash-back programs are best suited to companies with frequent, value-seeking shoppers. Many credit cards offer cash-back loyalty programs, allowing customers to build up a percentage of their purchases and redeem them later. Popular incentives include cash, partner gift cards, and statement credits.

    Cash-back programs are easy for customers to understand and work well for frequent shoppers.

    Loyalty Card Programs

    Loyalty card programs make people feel like they’re getting exclusive access to something, even if they don’t pay to participate in the program. The customer scans their card or provides a loyalty number and gets exclusive offers or discounts.

    Loyalty cards can work for almost any business. They’re easy to set up and convenient for customers, especially when there’s an option to have a digital version of the card on the customer’s smartphone.

    Tiered Programs

    In a tiered program, customers get more benefits as they spend more. One common structure is to have Bronze, Silver, and Gold levels, with minimum annual spending thresholds for each level. A tiered program tends to suit businesses that are interested in courting their highest spenders.

    Membership and Subscription Programs

    Membership and subscription loyalty programs require customers to pay to participate. The customer pays an upfront fee in exchange for exclusive rewards, coupons, and other offers.

    Perhaps the most famous membership loyalty program is Amazon Prime. For a yearly fee, consumers get access to free two-day and same-day shipping on eligible purchases, a large library of streaming media, and more. Members express their appreciation through their wallets, spending more than double what non-prime members spend ($1,400 per year compared to $600, according to the most recent statistics.) [3]

    Other companies have achieved similar success. GameStop, for example, offers its PowerUp Rewards card at a cost of $14.99. More than 50% of the store’s transactions now have a PowerUp account attached. [4]

    These companies are proof that customers will pay for the right reward. In fact, according to Inte Q research, almost two-thirds of customers are willing to subscribe to a loyalty program. That includes 77% of 25- to 34-year-olds.

    It may even be the case that paying for premium access encourages more spending, convincing customers that they need to get their money’s worth. The key to success is offering rewards that meet customer needs and marketing the loyalty program in a way that sets it apart from the rest.

    Choosing the Right Partner

    Loyalty programs can go a long way toward encouraging repeat purchases, improving customer retention, and increasing customer lifetime value. The main downside is that they require a time investment on the part of the sponsoring company. Rewards have to be structured and updated, promotional emails have to go out to remind customers to participate, and questions about the program will need answering.

    The best solution is a rewards partner that understands an individual business and how a loyalty program will fit into it. Inte Q starts with a deep dive into a company’s data, finding out what works for its customers and what type of program would meet its goals. The result is a customer loyalty program that stands out from the pack.


    Smart Retention Strategies: How to Save 5-25x by Keeping Customers Loyal

    Getting and keeping customers has always been of primary concern to businesses. But in today’s oversaturated, competitive markets, it’s proving more challenging than ever.

    Personalized email campaigns and loyalty rewards programs are valid retention strategies. However, many brands neglect their existing customers in favor of acquiring new leads, and they spend up to seven times more in the process.

    With up to 65% of a company’s business coming from existing customers, businesses ignore customer loyalty and retention strategies at their peril.

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    Cost of Acquisition vs. Retention

    When it comes to the customer funnel, many businesses focus on lead acquisition and neglect current customers who have already made a purchase. Almost half of companies focus more on getting new customers than retaining existing ones.

    However, existing customers represent a pool of pre-qualified, highly invested leads who have already shown they’re interested in a brand — enough to purchase one of its products. Neglecting these existing customers as a potential source of repeat income is a missed opportunity for a few reasons:

    • New prospects convert at a rate of only 5-20% while repeat customers rebuy at a rate of 60-70%.
    • It costs companies 5-25x more to acquire new customers than it does to retain old ones.
    • Money spent to acquire new customers is wasted if there are no strategies in place to retain them.

    Fresh leads know nothing about a brand and aren’t yet convinced of its quality or usefulness. With current customers, these barriers to conversion have already been overcome. Focusing on retention just makes sense — existing customers already know and trust a brand and are primed to make a purchase.

    Why Having a Retention Strategy in Place Is Vital

    Retention programs give existing customers a reason to stay loyal to a company. Brands show customers that they are valued, and customers return the favor by staying engaged.[wonderplugin_cond deviceexclude=”Mobile”]80 percent of revenue comes from 20 percent of current customers[/wonderplugin_cond]

    While brands must commit to growing their customer base and can’t live solely on existing customers, retaining them plays a vital role. More than 80% of a company’s future revenue comes from just 20% of its current customers. Even a 5% increase in retention can raise profits by 25-95%.

    Brands that keep their customers from canceling their subscriptions, deleting their accounts, or switching to a competitor drive growth and increase profits.

    How Loyalty Fits into Retention

    Customers always wonder what’s in it for them. In the drive to increase referrals, social mentions, and repeat purchases, rewarding existing customers is critical. At least 75% of consumers say they favor companies that offer rewards.

    By using a loyalty program, brands can tie their marketing efforts back into their retention strategy. Good customer loyalty programs are personalized, get customers excited, make rewards attainable, offer variety, and are simple and easy to understand.

    Many programs use points, subscription memberships, exclusive discounts, special offers, birthday bonuses, referral incentives, and more to make existing customers feel valued. The goal is to incentivize action by using your existing data to engage current customers and create programs that move with them through the customer journey.

    Finding the Right Customer Loyalty Program

    Implementing the right loyalty program is important. Inte Q can help you create a loyalty program that fits your brand, your customers, and your business goals. Inte Q’s loyalty program design process provides the strategic recommendation needed to shape your program based on:

    • Transactions
    • Engagement
    • Experiential Benefits
    • Points
    • Membership and Subscription

    Retain customers and increase profits using our data-driven customer engagement platform and stop missing out on the large pool of highly qualified leads right under your nose—your existing customers.

    Sources:


    Inte Q Helps Brands Strategize Email Marketing During COVID-19 Pandemic

    Innovative email strategy techniques based on real-time data allow brands to effectively drive engagement despite COVID-19 challenges.

    Inte Q, the leading data-driven customer engagement agency, is empowering companies to overcome the difficulties involved with cross-channel marketing during an unprecedented crisis.

    The Inte Q approach helps companies leverage data insights to advance email strategies — increasing quality leads, growing revenue, and driving engagement. As brands emerge from the chaos of the past several months, having an actionable, effective email strategy in place will be integral to their success.

    Constant Optimization

    One key element of Inte Q’s data-based email strategy is constant optimization through real-time insights. Traditionally, email campaign efficacy has been calculated after a campaign has closed, when it’s too late to make adjustments. While post-campaign insights can be informative when building new campaigns, lengthy campaign and analysis cycles are inherently less effective than real-time analysis.

    By harnessing data as it comes in, brands can make immediate changes to refine messaging or hone in on the customer segments most likely to engage. For example, brands can use Inte Q engagement insights to analyze email product placement changes among specific segments.

    Companies can tackle several key questions with this valuable real-time insight:

    • How is messaging resonating with less active and more engaged customers?
    • Who should the brand target through emails?
    • Is the brand achieving good deliverability metrics — a measure of overall program reputation?
    • How are ISPs responding to your campaign?

    Incremental Adjustments

    Inte Q guides brands toward the incremental changes that can positively impact brand success more than sudden, broad changes to content, volume, and frequency.

    This measured, results-based approach is critical during these challenging times. Each brand needs to analyze how their unique customers are responding to messaging around topics like COVID-19.

    Messaging tone matters, too. Inte Q’s tools give brands deep insight into which customers are reading emails and how they are interpreting messaging. Companies can use Inte Q’s neuro-analytical focus to determine how best to incrementally evolve authentic messaging — ensuring all communication remains sensitive to customers’ changing needs.

    A Siloed, Complementary Approach

    Inte Q is helping brands develop big-picture analyses as well as granular, highly focused insights. By taking a siloed approach to customer engagement analysis, brands can solve problems for both engaged customers and customers they have yet to effectively reach. They can create separate work streams to evaluate specific messaging and then use that analysis to develop a holistic strategy.

    For example, an analysis of a “welcome” email workstream can measure the efficacy of education messaging. Simultaneously, the data related to a re-engagement workstream can help shape marketing to that segment. It is this kind of hyper-focused personalization that sets Inte Q apart from other data insight firms.

    As they reemerge in the post-COVID era, companies and marketing officers must take steps now to adjust email strategy. Inte Q customer engagement analysis gives brands the tools they need to build robust email strategies — and to respond effectively to rapidly shifting customer expectations.

    Inte Q provides data insights that empower brands to leverage their data to improve email metrics.


    Customer Engagement for a Changing World

    Following the introduction of lock-downs in late March 2020, consumers have turned to the digital world as a new way of life. From online college classes to working from home, many people are living and breathing on the internet. Online shopping has increased across sectors as consumers strive to eliminate any unnecessary COVID exposures.

    Fostering customer engagement is hard enough when buying behaviors are predictable, but the way we eat, live, and shop is changing radically. So what do we know? The EY Future Consumer Index has identified four segments of consumer behavior1:

    35%
    of people are considered “save and stockpile,” which means they’re spending more on groceries and necessities to prepare for the future.

    27%
    of consumers are “cut deep,” which means they’re the hardest hit by the pandemic and are therefore spending less on all categories.

    26%
    are “stay calm, carry on,” which means they’re not directly impacted by the pandemic and aren’t changing their spending habits.

    11%
    are “hibernate and spend,” which means they’re well-positioned to survive the pandemic and are spending more on all categories.

    These statistics, in addition to a host of other changes in consumer thought and behavior — spending more time on mobile devices, increasing dependence on e-commerce, and shifting attitudes on working from home — make it clear that customer habits will continue to evolve in the aftermath of COVID.

    Values, lifestyles, and patterns are changing. There’s also a very real chance that some of these changes won’t reverse. It’s critical that businesses reassess the way they approach customer engagement and leverage new digital strategies to adjust to an unpredictable environment.

    So what can you do in these uncertain times? Start by downloading the entire article here.

    Whitepaper - Customer Engagement in a Changing World