Month: August 2014

Measuring Decision Drivers to Increase Sales

The customer/business relationship evolves as you move along the path from lead to customer to long-term customer. At each stage in that path your interactions with customers, as well as their opinion of your business, will change in various ways. That’s why xAmplifier solicits decision drivers from customers (and potential customers) at different critical decision points in the customer journey, starting with the initial interaction when the customer is still just a lead and continuing until they are a long-term customer reflecting back on their relationship with you.

Understanding why customers choose your business, or don’t, is essential to improving your conversion and retention rates. If you don’t know which aspects of your business draw customers in and which prevent them from making a purchase, you can’t adequately adjust your strategy to emphasize your strengths and fix your weaknesses. Knowing those decision drivers can help you to close more sales, prevent cancellations, keep customers happy, and even develop better strategies for leads and prospects. Let’s take a look at what advantages can be gained from knowing decision drivers at various points in the customer journey:

Purchase, Non-Purchase, and Undecided Decision Drivers

Buying or not buying is the decision at the basis of your relationship with the customer. It’s important to know which factors were important to the customer in making that decision. The more specific you can get, the better. Were your facilities clean, professional, and conveniently located? Was your staff friendly and knowledgeable? Did your products and services meet expectations, both in quality and price? Did the customer consult friends or online reviews of your services or products?

The answers to these questions allow you to find out what’s costing you sales and fix it. They help you identify specific, actionable problems that you can take steps to correct. They also let you know what took your customers from curiosity to purchase. Gaining feedback on employee interactions with customers also helps you evaluate staff performance and not only see why employees are (or aren’t) making sales, but also what specific things customers liked (or didn’t like) about them.

Decision drivers related to the decision of whether to purchase are valuable information that can be used to directly improve your business. Armed with that data, you’re able to troubleshoot and eliminate problems and weaknesses in your business, opening the door to increased sales and a better bottom line.

Long-Term Satisfaction and Dissatisfaction Drivers

Whether you’re selling a product or providing a service, knowing your customer’s immediate level of satisfaction isn’t enough if you want to retain them long-term. You also need to keep tabs on them months down the line to see if they are still pleased with your product or service. If you can’t maintain their satisfaction, you risk losing their business and, even worse, negative online reviews that can hurt future sales potential. Mining long-term satisfaction drivers allows you to maintain customer retention by addressing customer issues, so happy customers don’t turn into unhappy (or past) customers. Measuring long-term satisfaction also gives you an opportunity to remind the satisfied customers of how pleased they are with you and encourage them to share their experience online with positive reviews.

Cancellation Decision Drivers

When a customer cancels a meeting or consultation, finding out why is vital. You not only gain the possibility of addressing their concerns and preserving their business, but also identify complaints that may be common to other customers. By addressing them, you may not only save that customer’s sale, but prevent future losses from other unhappy customers down the road.

Speaking of down the road, it’s also important to know why long-term customers decides to discontinue their relationship with you. Are they suffering buyer’s regret, or was there something lacking on your end, be it in customer service or the product itself? By finding out these unhappy customers’ decision drivers, you can step in to remedy the situation, restore their business, and keep your customer retention rates high. The information gleaned is also useful in building customer profiles to help you better understand your client base.

Conclusions

Measuring decision drivers is the best way to understand your customers’ motivations: Why did they choose your business? Why didn’t they end up making a purchase? What factors matter most to them in making their purchase decision? What aspects of their experience as your customer affecting their likelihood to purchase from your in the future? Collecting and analyzing these decision drivers allow you to save individual sales in the short run and increase conversion and retention rates in the long run. That’s why xAmplifier provides its clients with specific decision driver data, both on the micro (individual customers) and macro (decision driver trends of your customer base both as a whole and broken down by demographic data) levels.

At xAmplifier, we provide actionable data to improve your business’ sales and retention rates. You can contact us at sales@xamplifier.com or call 866.363.6434to see what xAmplifier can do for you!

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Measuring Decision Drivers to Increase Sales

The customer/business relationship evolves as you move along the path from lead to customer to long-term customer. At each stage in that path your interactions with customers, as well as their opinion of your business, will change in various ways. That’s why xAmplifier solicits decision drivers from customers (and potential customers) at different critical decision points in the customer journey, starting with the initial interaction when the customer is still just a lead and continuing until they are a long-term customer reflecting back on their relationship with you.

Understanding why customers choose your business, or don’t, is essential to improving your conversion and retention rates. If you don’t know which aspects of your business draw customers in and which prevent them from making a purchase, you can’t adequately adjust your strategy to emphasize your strengths and fix your weaknesses. Knowing those decision drivers can help you to close more sales, prevent cancellations, keep customers happy, and even develop better strategies for leads and prospects. Let’s take a look at what advantages can be gained from knowing decision drivers at various points in the customer journey:

Purchase, Non-Purchase, and Undecided Decision Drivers

Buying or not buying is the decision at the basis of your relationship with the customer. It’s important to know which factors were important to the customer in making that decision. The more specific you can get, the better. Were your facilities clean, professional, and conveniently located? Was your staff friendly and knowledgeable? Did your products and services meet expectations, both in quality and price? Did the customer consult friends or online reviews of your services or products?

The answers to these questions allow you to find out what’s costing you sales and fix it. They help you identify specific, actionable problems that you can take steps to correct. They also let you know what took your customers from curiosity to purchase. Gaining feedback on employee interactions with customers also helps you evaluate staff performance and not only see why employees are (or aren’t) making sales, but also what specific things customers liked (or didn’t like) about them.

Decision drivers related to the decision of whether to purchase are valuable information that can be used to directly improve your business. Armed with that data, you’re able to troubleshoot and eliminate problems and weaknesses in your business, opening the door to increased sales and a better bottom line.

Long-Term Satisfaction and Dissatisfaction Drivers

Whether you’re selling a product or providing a service, knowing your customer’s immediate level of satisfaction isn’t enough if you want to retain them long-term. You also need to keep tabs on them months down the line to see if they are still pleased with your product or service. If you can’t maintain their satisfaction, you risk losing their business and, even worse, negative online reviews that can hurt future sales potential. Mining long-term satisfaction drivers allows you to maintain customer retention by addressing customer issues, so happy customers don’t turn into unhappy (or past) customers. Measuring long-term satisfaction also gives you an opportunity to remind the satisfied customers of how pleased they are with you and encourage them to share their experience online with positive reviews.

Cancellation Decision Drivers

When a customer cancels a meeting or consultation, finding out why is vital. You not only gain the possibility of addressing their concerns and preserving their business, but also identify complaints that may be common to other customers. By addressing them, you may not only save that customer’s sale, but prevent future losses from other unhappy customers down the road.

Speaking of down the road, it’s also important to know why long-term customers decides to discontinue their relationship with you. Are they suffering buyer’s regret, or was there something lacking on your end, be it in customer service or the product itself? By finding out these unhappy customers’ decision drivers, you can step in to remedy the situation, restore their business, and keep your customer retention rates high. The information gleaned is also useful in building customer profiles to help you better understand your client base.

Conclusions

Measuring decision drivers is the best way to understand your customers’ motivations: Why did they choose your business? Why didn’t they end up making a purchase? What factors matter most to them in making their purchase decision? What aspects of their experience as your customer affecting their likelihood to purchase from your in the future? Collecting and analyzing these decision drivers allow you to save individual sales in the short run and increase conversion and retention rates in the long run. That’s why xAmplifier provides its clients with specific decision driver data, both on the micro (individual customers) and macro (decision driver trends of your customer base both as a whole and broken down by demographic data) levels.

At xAmplifier, we provide actionable data to improve your business’ sales and retention rates. You can contact us at sales@xamplifier.com or call 866.363.6434to see what xAmplifier can do for you!

Using Memes to Build Your Brand & Grow Revenue

Think memes can’t be used to promote your business? Think again.
 
When used correctly, memes on social networking sites can successfully draw large numbers of followers to your business. However, you should understand that memes tend to be short-lived, so using a meme near the end of its life-cycle will not work out well for your business.
 
Memes usually go through four stages: birth and growth, peak, decline, and death. Make sure to use a meme during its growth or peak phase to achieve desired results and successfully integrate it into your marketing campaign.
 
What is a Meme?
 
Traditionally, a meme is any idea or behavior that spreads between people in a culture. The modern meme is an online photo or video image, usually with text attached to it. Popular memes include single panel images or four-image comic strips. One of the more popular examples is Doge, a meme typically featuring a Shiba Inu dog with Comic Sans text in broken English.
 
Proper Branding
 
Before you use any meme to market your business, you need to research and understand the meme’s origin. Knowing when and why the meme went viral will help you use the meme properly in branding your business. You can garner an excellent understanding of the meme’s origin, stage, and relevance athttp://knowyourmeme.com. Also, make sure that the meme is actually relevant to your business’s products and services. On the other hand, you shouldn’t allow the meme to take on a very serious tone. Making your meme humorous personalizes the ad and ensures that more followers will share and provide feedback.
 
Regulate Your Memes
 
While memes can help you grow your business, using too many at once can overwhelm your followers. Keep an eye on the number of memes you use and regulate that number if it exceeds the content marketing strategy. These memes should appear only to provide a break from actual content. Using relevant memes regularly but not too frequently can successfully drive traffic to your business’s site. Starting out on a small scale by creating two or three memes per week will help you achieve huge returns for less. Choose from a plethora of memes available online to expand your business’s audience.
 
Include Call-to-Action
 
Especially if you are using a popular meme, it’s important to throw in a call-to-action, like a URL linking to your business’s website. This call-to-action will make your followers more curious about your business.
 
Generate Exposure
 
Understand your target audience in order to gain great exposure for your business. Social networking platforms like Facebook, Twitter, StumbleUpon, Pinterest, Reddit and Tumblr are the best sites to generate shares and views. Make sure to utilize embed share buttons to make your memes visible, enhance your social signals, and advance your search ranking.
 
Make Your Own Meme
 
Making your own meme is a great way to ensure that your brand image is attached to it. Doing so will allow you to link the meme back to your website to increase your business’s visibility. There are a number of meme generators available online that will help you design memes to promote your business. You can either upload an original image or add your own text to an existing meme.

Targeted Meme Distribution

Memes are an excellent way to spread messages quickly and promote new products or services, but if your target customers aren’t frequenting the websites or social media platforms you’re posting memes on, even a well-crafted meme campaign can go to waste. The xAmplifier software system helps our clients overcome this hurdle by bringing relevant, engaging memes to the right customers.

xAmplifier’s dynamic post-survey landing pages allow you to choose which memes or images are shown to specific customers based on their demographics, interests, or purchases, complete with social media buttons for easy likes and shares. Similarly, custom-designed memes can be added to touchpoints to liven up or personalize customer-bound emails. xAmplifier’s dynamic distribution approach leads to faster recognition and adoption of memes along with the flexibility to easily switch out content when it becomes dated.
 
Want to learn more about viral marketing strategies to enhance your business’s digital reputation? Contact us at sales@xamplifier.com or call 866.363.6434 to see what xAmplifier can do for you!