One of the main goals of any growing business is to increase its customer reach over time, and one of the most effective ways to do this is by leveraging your existing base of customers. According to Nielsen, 92% of customers trust referrals from friends and family over traditional forms of advertising, making it essential to engage with the customers you already have.
The best methods for this will also give you actionable insights and metrics which can help you better understand the value your business offers your customers. This is very important for customer retention, which in turn is very important for those customers to refer you to other potential customers within their social circle.
Let’s take a look at some of these methods and the benefits they can offer your business.
One of the simplest ways of gathering feedback from customers is to offer a survey asking their opinions on any number of topics relevant to your business. This feedback is important for understanding what your business is doing well and what it’s doing poorly in the eyes of customers, as well as for determining how many of them are likely to refer your business to other people. You can use this data to increase your customer reach by finding ways to incentivize referrals. Read our article on effective customer experience metrics now to get a sense of what to focus on.
Insights like those generated by customer surveys can give you a clearer picture of what your customers like about your company, what they want from your type of business, and who they are. These details shouldn’t just impact what your company offers these customers; they should affect every aspect of the way you engage with them, including your branding, advertising, content, public relations, and customer support.
Providing news about your business that’s relevant to what your customers are interested in is a low-cost method of engaging with those customers in a meaningful way and potentially increasing your customer reach. According to the Direct Marketing Association, email marketing has an average ROI of $38 for every $1 spent. When your newsletters are built upon the feedback provided by your existing customers, you can accurately target any discounts, deals, or significant business updates to what you know those customers care about.
Increasing brand awareness is an essential step toward increasing your customer reach, and social media platforms are some of the best tools available for this task. They can be helpful in 2 major ways: by helping you understand how your target audience communicates and by showing you what types of content they engage with most. Observe your target audience on these platforms and share content based on your insights. This can increase awareness of your brand more effectively among people to whom your business may be valuable and relevant.
The metrics and insights you generate through customer feedback can effectively drive the content your business produces about your products and services, your industry, and the company itself. Blogs are the most popular format for this, but the best way to determine which format works best for your business is to try several and see which ones your target audience responds best to. You can also take a look at how your competitors are engaging with your target audience and see what’s working best for them.
The best way any business can increase their customer reach is by improving the way they engage with the customers they have, and you can do this most effectively with metrics and insights into what matters most to those customers.
DropThought can help you get actionable feedback from your customers at the right stage in their journey. Request a demo with us today to find out how.