Kickstart_Retention_plan_v1

Increasing Revenue through Advocacy: 

Increasing Revenue through Advocacy

Contents: 

Contents THE THINKING Background and purpose What does an ‘advocate’ look like? Nurturing a relationship Measuring success CUSTOMER GROUPS Creating a simple segmentation Mapping the communications TAKING LOYALTY A STEP FURTHER © Copyright 2012 Modern Media Limited

What are we trying to achieve?: 

What are we trying to achieve? © Copyright 2012 Modern Media Limited

Customers that love you spend more and talk about you more.: 

Customers that love you spend more and talk about you more. © Copyright 2012 Modern Media Limited

How do we create advocacy?: 

How do we create advocacy? Embed relationship Qualify their decision in choosing your business by demonstrating thought leadership, expert knowledge, talking about your success and through ‘value-add’ events Enhance relationship Promote core values and business approach by delivering to customer’s expectations Develop customer’s understanding of your product or service offering Showcase different parts of business in each communication Case studies Practical advice and solutions relevant to their business Surprise and delight -- Loyalty incentives -- Free events that add value to their business (topical talks, networking, information seminars) © Copyright 2012 Modern Media Limited

Not all customers are equal though: 

Not all customers are equal though High Current Value Low Potential Value Nurture and Grow Low Current Value Low Potential Value Low Current Value High Potential Value Nurture and Grow High Current Value High Potential Value Strengthen Potential Value Current Value © Copyright 2012 Modern Media Limited

Possible segmentation: 

Possible segmentation Use 3 core services No scope to extend SLA value c.£5k Use 1 service No scope to extend No SLA or under £2k Personal only Use 1-2 services Opportunity to extend services SLA c.£5k Use 4 or more services SLA >£10K Potential Value Current Value © Copyright 2012 Modern Media Limited

Measuring marketing success: 

Measuring marketing success Incremental revenue What should the target incremental revenue be? Extended SLA More clients taking up other products and services Higher value SLA Response rates to communications Open, click, conversions (to what?) Interactions and levels of engagement Comments, ‘likes’, feedback Longer relationships Increased numbers of client referrals © Copyright 2012 Modern Media Limited

Success isn’t just about great marketing!: 

Success isn’t just about great marketing! Delivering your core values at every touch point is essential for success. © Copyright 2012 Modern Media Limited

A kick start plan: 

A kick start plan © Copyright 2012 Modern Media Limited

Example segmentation: 

Example segmentation Use 3 core services No scope to extend SLA value c.£15k Use 1 service No scope to extend No SLA or under £5k Use 1-2 services Opportunity to extend services SLA c.£10k Use 4 or more services SLA >£20K Potential Value Current Value © Copyright 2012 Modern Media Limited

Communication contact points: Low value/low potential customers: 

BASIC RETENTION COMMS CYCLE @ @ @ Communication contact points: Low value/low potential customers Welcome Pack (Printed) @ Email Newsletters Initial presentation Signed agreement Regular service comms , i.e. meetings Blog content, social media activity © Copyright 2012 Modern Media Limited

Communication contact points: High value/low potential customers: 

BASIC RETENTION COMMS CYCLE Communication contact points: High value/low potential customers Welcome Pack (Printed) Printed Newsletters Initial presentation Signed agreement ADVANCED RETENTION COMMS CYCLE Event 1 Event 2 Event 3 Blog content, social media activity Regular service comms , i.e. Meetings or calls

Communication contact points: High value/high potential: 

BASIC RETENTION COMMS CYCLE @ @ @ Communication contact points: High value/high potential Welcome Pack (Printed) @ Email and Printed Newsletters Initial presentation Signed agreement ADVANCED RETENTION COMMS CYCLE Event 1 Event 2 Event 3 Blog content, social media activity Regular service comms , i.e. meetings

Getting the message right: 

Getting the message right © Copyright 2012 Modern Media Limited

Supporting role: social media: 

Supporting role: social media © Copyright 2012 Modern Media Limited

PowerPoint Presentation: 

© Copyright 2012 Modern Media Limited Nicola Ray Digital Marketing Director Modern Media W: www.modern-media.co.uk D: 01454 273 696 E: nicola.ray@modern-media.co.uk T: @ modmedialtd L: http://uk.linkedin.com/in/nicolaray

PowerPoint Presentation: 

© Copyright 2012 Modern Media Limited