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Customer marketing is the process of marketing to your existing customers. This has two primary goals: customer satisfaction and customer lifetime value. Customer satisfaction is the process of meeting customer needs and impressing them with your customer experience. Customer lifetime value is the process of leveraging relationships to improve revenue. The following are common types of customer marketing.
Developing brands that customers view as part of their lifestyle, culture, identity or routine.Business relationships with customers such as a salesperson who connects with customers once in a while.Improving the quality of everything customers notice including intangible elements such as the decor of a hotel lobby.
Looking at customer experiences as an end-to-end sequence of interactions with each being a chance to impress and a risk of disappointment.Loyalty ProgramsPrograms that reward customers for loyalty with status, valuable points, upgrades or gifts.Developing and managing products to achieve customer satisfaction goals. For example, offering support for a legacy product that customer's still need.
Engaging customers in product development. Customers that are pushing your products to their limits may hold the key to product innovation.Customer service is a common source of customer satisfaction shifts. For example, handling a customer complaint well may boost loyalty significantly.
Paying employees to represent customer interests as opposed to the interests of your firm.Measuring and benchmarking customer satisfaction metrics against the competition.References, Leads & Referrals Leveraging customers as a source of new customers with references, leads, referrals and word-of-mouth.
RetentionMarketing and sales efforts aimed at reducing churn such as a renewal promotion.Selling different products and services to existing customers. This can begin with product development as products can be designed specifically for existing customers.Selling upgraded services, quality, functions, features, performance and capacity.
In many cases, loyal customers are willing to pay more than a new customer. For example, a fashion brand may find that brand loyal customers often purchase their new products before anything goes on sale each season.|
| Type | | | Definition (1) | The process of marketing to your existing customers. | | Definition (2) | The process of improving customer satisfaction and customer lifetime value. | | Related Concepts | |
Customer Experience
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