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Have you seen How To SELL Anything?

This incredible sales handbook distils an expert's lifetime of sales and marketing experience and hands it to you on a platter, in a simple, easy-to-follow format. With existing customers being the most valuable source of income for any business, this book will teach you how to increase your return business and make more profit from your most loyal customers - and even how to reduce the costs of dealing with your least profitable customers.

Get it on Amazon (Kindle/Print)
 

Customers are defecting because of irrelevant offers

Know you customers or they'll forget all about you

There is a growing gap between the offers that brands send, and what their customers actually want, according to offer optimization platform provider Formation, following the publication of a Forrester study entitled 'The State Of Offer Relevancy 2021'.

The study found that nearly 70% of consumers do not think the offers they receive are relevant, which means brands are at risk of losing revenue and customers at a time when consumer spending is surging, because half of US customers have left brands if competitors better met their needs.

The bar for relevance and value dramatically rose with the acceleration of digital commerce experiences consumers had during COVID-19. This has intensified the need for greater relevance as companies re-engage customers and re-establish relationships in both online and offline channels.

The research shows that while there is great opportunity for brands, many are falling behind in creating relevancy for their customers:

"We as retailers and brands must build capabilities, journeys, and offers that put the people we're serving at our center through a deep and empathic understanding of what they value and need." Justin Weinstein, Sr. Director of Customer Experience, Giant Eagle.

Business-to-consumer (B2C) companies are entering an era when acquisition costs are increasing due to data privacy laws, cookie deprecation, and the removal of IDFA. This makes first-party data strategies even more critical for brands, as it enables them to create deeper customer engagement, and ultimately grow customer lifetime valueto offset the growing acquisition costs. However, it's clear that many brands are falling behind in how they use first-party data to create relevant offers & loyalty programs.

According to Christian Selchau-Hansen, CEO of Formation.ai, "the world of loyalty is fundamentally changing, and companies that don't improve how they engage with current customers will lose market share and, ultimately, revenue. This is precisely why it is critical for brands to improve the relevancy of their offers, enabling them to capitalize on the surge of consumer purchasing that is coming as the world re-opens for business."

Dynamic Offer Optimization
Optimized offers and loyalty represent the next frontier for business growth, the company suggests, and smart brand owners will start to leverage technology to sustain and accelerate post-pandemic growth through customer engagement.

In fact, 71% of brands say they plan to invest in offer optimization technology moving forward, in order to quickly create tailored offers for customers that will drive deeper engagement.

Brands must have a renewed focus on what matters most to customers and implement technology tools to keep pace with rapidly evolving consumer expectations and to leverage automation to achieve greater operational efficiency, drive increased sales and enhance customer satisfaction.


Sources: Formation; Forrester Consulting /
The Marketing Factbook.
Copyright © 2021 - 2025 The Marketing Factbook.

    Categorised as:

  • Customer Experience
  • Customer Loyalty
  • Knowing The Customer
  • Marketing Know-How
  • Marketing Technology

Have you seen How To SELL Anything?

This incredible sales handbook distils an expert's lifetime of sales and marketing experience and hands it to you on a platter, in a simple, easy-to-follow format.

With existing customers being the most valuable source of income for any business, this book will teach you how to increase your return business and make more profit from your most loyal customers - and even how to reduce the costs of dealing with your least profitable customers.

You'll learn to sell yourself, sell your products, and sell your brand on the internet, writing high-conversion landing pages, social media posts, and more. You'll start attracting customers you didn’t even know existed, and learn the top trade secrets for customer retention.

You'll become a lean, mean selling machine. See how the experts do it and learn to adapt what they've done for your own profit. You'll learn to write strong, powerful, effective sales copy, whether it's for a sales script, sales letter, flyer, insert, advert or just about anything else.

You'll learn how to sell whether you're selling by telephone, by mail, or even meeting prospects face-to-face. You'll find out how to size them up, present yourself, nail down their true needs, close the sale, and learn to tackle the tricky ones.

You'll discover the biggest secrets of successful direct mail sellers, sales letter writers, and how to segment and choose the right prospects for each campaign.

Get it on Amazon (Kindle/Print)
 
Copyright © 2001-2025 Peter J. Clark