In recent years, there has been a shift in B2B marketing from looking at customer marketing as an activity to leverage customers to support lead generation activity through case studies, reference calls and so forth. And while that is necessary, today’s modern marketer is recognizing the importance of ensuring their customers’ success so that they are more likely to renew with you, more likely to speak at your event, and more likely to tell their peers about you.
“A lot of companies still see customer marketing as supplying references to the sales team when they need it; for getting customers to be quoted in a press release; for getting customers to get up on stage at your annual conference; or to speak to an analyst,” said Stephen Schleifer, Act-On’s senior director of customer marketing. “That is just the tip of the iceberg with customer marketing. There is a lot of untapped potential most organizations are not realizing by being able to engage with their customer base way beyond those kind of very lead gen and pre-sales types of activities, including online communities, customer advisory boards, advocacy programs, product adoption, upsell campaigns, and events.”
Research from Frederick Reichheld of Bain & Company, inventor of the net promoter score, and published in the Harvard Business Review, has found that acquiring a new customer is anywhere from 5 to 25 time more expensive than keeping a current customer. And by increasing customer retention rates by 5% increases profits by 25% to 95%.
“I love this quote from the Forrester Research in the B2B Loyalty the B2C Way report” said Schleifer. “They say ‘It’s time to expand the focus of B2B engagement to the entire customer relationship, including loyalty and retention, which are not traditional priorities for B2B marketers.’”
And in this world of Tweets and Facebook livestreams, it’s critical to recognize the importance of your customers as ambassadors for your brand when they are talking with their peers,
“Being able to get customers to validate a lot more of what you’re doing is very, very important,” Schleifer said. “You’re really kind approaching it from we’re successful as a company because we’ve been able to help our customers be successful. The more successful they are using the platform, the more it’s able to deliver on their business objectives, then the stickier it becomes to them as a must-need business tool, and the more they’re going to say, ‘Hey, I’m realizing value and this technology platform is a big part of that.’”
Published at Mon, 13 Mar 2017 10:00:00 +0000