In the eyes of your customers, you might have a dated and inefficient advertising strategy that’s really not captivating enough of their attention. Finding new ways to innovate with a competitive advertising campaign and social presence can pose a big challenge for marketing teams. But if implemented correctly, it can be a significant driver of revenue growth.
A great customer experience and a phenomenal review is worth more than you think. Although 90 percent of consumers say online reviews influence their buying decision, the first form of contact with your customers is usually advertising of some kind and not those note-worthy reviews.
The Competitive Advertising You Face
As you’re probably familiar, there are a lot of advertising platforms out there. The biggest hub of them all is mobile advertising. Over two-thirds of Americans access the internet through their mobile devices. People spend an average of 4 hours a day on their mobile devices and are bombarded by mobile ads on various applications and websites. These platforms use algorithms to attract specific customers to your content.
Most mobile advertising methods are incredibly oversaturated and expensive. Everyone knows the most-widely adopted marketing methods including social media, email marketing, search engine optimization (SEO), amongst others. If your business outsources your social media marketing, you’re spending $4,000-$7,000 per month on this stream of marketing alone. Chances are your competitors are implementing the exact same marketing methods and you’re all fighting for the same eyes.
Today, customers crave a better, more personalized experience. Research shows that 58% of consumers said they would view a business more positively if they offered SMS capabilities.
I’m not saying to completely ditch other marketing methods. But adding SMS text messaging to your strategy could be the key to your next successful competitive advertising campaign. By reaching people in an uncluttered medium like SMS text messaging, innovative companies can cut through the red tape of social media algorithms to gain greater audience engagement.
Using personalized text messaging in your campaigns will deliver a customer experience that will allow your business to stand out from the rest.
1. Provide A Seamless Checkout Experience
One of the greatest challenges that the e-commerce industry has is mobile cart abandonment. Customers want everything to be as seamless as possible, and with every mobile purchase, the checkout experience presents a new learning curve. This added frustration and buyer friction is the leading cause of cart abandonment and lost sales.
Your conversion rate is sure to increase if you are able to present a simple way to check out. Higher conversion rates mean more revenue of course. And at the end of the day, that’s what going to keep your business alive and growing. The fact of the matter is 70% of mobile shopping carts are abandoned before checkout. And worse, 7% of your audience is lost for every second that your webpage takes to load. We are deep into the era of instant gratification from everything a consumer wants and that includes a simple buying experience. Quick purchasing methods are the key to their satisfaction.
The Checkout Experience
- 1Customer clicks the link to the landing page
- 2Waits for the page to load
- 3Clicks "Add To Cart" or "Buy Now"
- 4Adds payment info to make the purchase
- 5Clicks submit to confirm purchase
- 6Waits for the confirmation page to load
- 7Receives purchase confirmation
But here’s how fast it could be with a frictionless buying experience that increases conversion rates by 5x when compared to using mobile links:
- 1A personalized text message with an offer is received
- 2The transaction is triggered with a simple text ("BUY", keyword + quantity)
- 3Confirmation is immediate and goods are delivered within 6 seconds.
Don’t give your customers a checkout experience that will take them minutes on your website. Give them an experience that collects payments in an average of 6 seconds with one simple text.
SMS text messaging is not widely adopted by businesses today. This presents a unique competitive advertising opportunity for early adopters. The community is still small but is growing rapidly. Only 30% of consumers have recorded that they receive text messages from the companies they patronize. Are you one of them?
2. Remain Responsive and Close More Deals
Maintaining a fast response time for your customers through SMS text messaging is another vital competitive advertising strategy. The best time to reach a prospective customer is at 4-6pm on Thursday’s. But this is an incredibly restrictive time period. Luckily, this same study says there is a better time to contact these leads. It’s within 5 minutes of their inquiry.
A quick response is the key to making new sales and satisfying customers in the age of low attention spans and instant gratification. A time span of 5 minutes seems a bit extreme. But only 7% of salespeople respond within 5 minutes of an inquiry. Enabling auto-replies is one way of providing a quick response to your eager customers. It doesn’t completely solve the problem, but it does provide a greater time window for you to get to your customers in a timely manner.
But sometimes a 5-minute reply window is not something you are capable of. Try to respond within an hour in order to still perform better than your competitors. Salespeople who show their inquiring customers that they are a priority by responding within at least an hour are 7 times more likely to have a meaningful conversation with a prime decision-making customer than those who do not.
Not only will a quick response time help you close more deals but it will also allow you to build trust with your prospects faster. A tough 18% of customers already don’t trust or respect salespeople. Unless you are putting in the extra effort to respond in a timely fashion, you could easily be expanding that number and losing sales. Stay on top of the trends and generate greater success in sales by responding to your customer's text messages in a timely fashion.
3. Enrich The Customer Experience With Better Service
The customer service experience is one of the most forgotten business strategies. Making a customer feel prioritized is a major influencer of making purchases. Building a relationship and trust with your customer can be determinant of many things including closing more deals, creating repeat customers, earning word-of-mouth referrals and great online reviews. These referrals and reviews are worth much more than you know. 84% of people trust online reviews as much as friends.
Ensuring a quick response and fulfillment of service, showing appreciation of the customer, and providing on-demand customer service can make the biggest difference in sales numbers and reviews. Studies show that 64% of people think the customer service experience is more important than price. Offering a competitive customer service experience will pay more than driving down the cost of your services and products.
In the 2017 American Express Customer Service Barometer study, more than half of Americans have canceled a planned purchase of transaction due to poor service.This is a detrimental loss in revenue to a business owner. Nothing is more valuable than an existing customer being pleased with their customer service. When it comes to mobile sales, customers should be treated as warmly and efficiently as if they were in-person. But changing your customer service standards is only half of the battle. The second half is consistency.
If a customer refers a friend, they will expect the same great service. And if a repeat customer comes to you, they will expect the same treatment as last time. According to a study by Bain & Company, a 5% retention rate boost can increase profits anywhere from 25-29%. Customer service is a necessity for any successful business. But it is also an efficient competitive advertising opportunity waiting to be tapped into with the use of text messaging.
Give customers what they already want in a way that they haven’t yet experienced. Meet your customers where they are. Embracing text messaging as a communication channel across all company departments might just be the key to a successful competitive advertising strategy. Get started today with ReplyBuy and stand out from your competition.