The business messaging strategy to reduce churn & improve lifetime value

The one business messaging strategy proven to reduce churn and improve the lifetime value

It’s no secret that brand loyalty among customers is low. It’s not that consumers want to be disloyal. In fact, the opposite is true. The modern customer is just a savvy shopper. They want the best price. They also want an easy life, and heck – don’t we all? So if they can get both good service and a good price from their brands, why would they go through the hassle of switching? The answer? They wouldn’t. The truth is, your customers want to stay with you. But your post-sale service is forcing their hand.

So if all of this is common knowledge, why is that churn continues to be high, which, as a result, is pulling down lifetime value of the average customer?

What so many businesses get wrong in their post-sale service

Marketing your product, service or brand as a whole shouldn’t stop the moment you have converted the customer. For brands that get it right, this is just the starting point of a new messaging strategy designed to keep customers engaged, supported, and best of all, valuable to your business.

By leveraging an omnichannel messaging approach, tailor-made according to your customer’s preferences, you can begin a journey or personalisation and re-targeting that delivers value both ways – as a service to your customer, and as a hefty bump to your bottom line.

Let’s take a look at an example

Let’s say you are browsing holidays. A trip to Morocco catches your eye, and after few well-timed push notifications, SMS and emails, you eventually speak to your partner, pull the trigger and book that well-deserved break.

But the marketing doesn’t (and shouldn’t) stop there. To keep you retained as a customer for future holidays, and also to serve you a better experience for your current one, the travel company sends you a message on your preferred channel (which you indicated at the point of sale, was Facebook Messenger). They deliver to you a helpful guide of things for couples to do whilst in Tunisia (different from all the family-friendly articles you keep finding online which are not relevant for your needs). You message back your travel company in the Messenger app asking if they could book any of these excursions on your behalf, and you are connected to a rep who does just that. Next time it comes to booking a holiday, this particular brand is not only at the forefront of your mind, but you use Facebook Messenger to contact them during your research stage of purchasing your trip.

In this instance, sending just one personalised follow up message has increased the original transaction value, and also retained the customer for their next purchase. What’s more, this the kind of exceptional customer service that makes a recommendation highly likely. The revenue generation from a single Facebook Messenger personalised, post-send message could end up being enormous for the business.

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