Upgrade marketing: loyalty, compensation and sales strategy
Posted: Mon Dec 23, 2024 5:30 am
Let's talk about upgrade marketing , that is, a high-flying strategy.
Fasten your seatbelts because we are going to take off.
Today we have taken a plane to talk about this marketing strategy that will help you overcome certain turbulences with your clients and will also make them feel on cloud nine.
And if you increase your sales along the way , the journey will have been worth it, don't you think?
But before we take off, let's clarify some concepts.
What is the upgrade?
In general terms, upgrade means improvement, extension, update, a higher version, an extra, a plus…
It is a concept that is widely used in technology, although it is also applied in other sectors, such as tourism .
In fact, it is frequently used in hotels and airlines, since they have different categories in their services (from the most basic to the premium).
But things don't end there.
Next, we will see how the upgrade applied to the shopping experience is not just an improvement, but has many more implications and benefits for our business and, above all, for our customer.
SPOILER: knowing how to move between different categories of products and services can be a strategic and differentiating factor for our company.
Upgrade marketing strategy
What is upgrade marketing?
Upgrade marketing consists of offering a service, product or version superior to the one contracted, at no cost to the customer , as compensation for an error or incident; or as a loyalty strategy.
Yes, I italicized "at no cost to the customer" on purpose.
It's great that the upgrade is free for the consumer, but what about for the company?
In certain cases, there may be an extra cost if the upgrade involves additional special services (food, drinks, amenities, etc.).
So is it worth taking on?
In the case of an upgrade for compensation , it will be necessary to evaluate whether the expense involved in this offer compensates for the dissatisfaction or loss of a customer.
I would venture to say that this expenditure is symbolic considering the possible consequences.
If we do not correct the injustice we have caused, we will surely crash irremediably.
An unsatisfied customer, on average, tells 10 people about his or her experience.
So we are not only losing the person involved, but ten more, who in turn are doing who knows what...
The power of word of mouth (both traditional and version 4.0) should not be underestimated because it can cause us more than one disappointment.
The perspective changes with the upgrade for loyalty.
If we use upgrading marketing as a loyalty strategy, our customer will have a better experience than expected.
Not only will you be satisfied, we will have gone a step further, exceeding your expectations.
We will have won a piece of his heart, which means we will have a better chance of seeing him again.
If we take into account that attracting a new customer can be up to 25 times more expensive dutch email list providers than keeping them, I think it is worth dedicating our efforts to at least making them happy.
From here, you will have to work to turn them into a repeat customer.
But be careful! Because...
A satisfied customer does not necessarily have to be a loyal customer.
Fasten your seatbelts because we are going to take off.
Today we have taken a plane to talk about this marketing strategy that will help you overcome certain turbulences with your clients and will also make them feel on cloud nine.
And if you increase your sales along the way , the journey will have been worth it, don't you think?
But before we take off, let's clarify some concepts.
What is the upgrade?
In general terms, upgrade means improvement, extension, update, a higher version, an extra, a plus…
It is a concept that is widely used in technology, although it is also applied in other sectors, such as tourism .
In fact, it is frequently used in hotels and airlines, since they have different categories in their services (from the most basic to the premium).
But things don't end there.
Next, we will see how the upgrade applied to the shopping experience is not just an improvement, but has many more implications and benefits for our business and, above all, for our customer.
SPOILER: knowing how to move between different categories of products and services can be a strategic and differentiating factor for our company.
Upgrade marketing strategy
What is upgrade marketing?
Upgrade marketing consists of offering a service, product or version superior to the one contracted, at no cost to the customer , as compensation for an error or incident; or as a loyalty strategy.
Yes, I italicized "at no cost to the customer" on purpose.
It's great that the upgrade is free for the consumer, but what about for the company?
In certain cases, there may be an extra cost if the upgrade involves additional special services (food, drinks, amenities, etc.).
So is it worth taking on?
In the case of an upgrade for compensation , it will be necessary to evaluate whether the expense involved in this offer compensates for the dissatisfaction or loss of a customer.
I would venture to say that this expenditure is symbolic considering the possible consequences.
If we do not correct the injustice we have caused, we will surely crash irremediably.
An unsatisfied customer, on average, tells 10 people about his or her experience.
So we are not only losing the person involved, but ten more, who in turn are doing who knows what...
The power of word of mouth (both traditional and version 4.0) should not be underestimated because it can cause us more than one disappointment.
The perspective changes with the upgrade for loyalty.
If we use upgrading marketing as a loyalty strategy, our customer will have a better experience than expected.
Not only will you be satisfied, we will have gone a step further, exceeding your expectations.
We will have won a piece of his heart, which means we will have a better chance of seeing him again.
If we take into account that attracting a new customer can be up to 25 times more expensive dutch email list providers than keeping them, I think it is worth dedicating our efforts to at least making them happy.
From here, you will have to work to turn them into a repeat customer.
But be careful! Because...
A satisfied customer does not necessarily have to be a loyal customer.