It’s the age of the customer and customer acquisition is at the top of mind for many businesses. Most budgets and technologies are being used to expand their reach and capture new visitors. However, many businesses fail to put as much focus on retaining their customers and building a loyal following.
Customer retention and loyalty programs are important for developing a true customer-focused business. They are able to bring increased sales, brand awareness and a sense of security during tough times. In fact, Gartner reports that 20% of a business’ existing customers generate 80 percent of its profits.
So, don’t back down. What are you going to do to bolster and retain your customers? We have a few suggestions for you…
Sorry for the hiatus and silent treatment, but it’s for exciting reasons!
As B2B marketers, how do you determine who is interested in your product and who is simply window shopping? How do you turn a universe of possibilities into a funnel of opportunities? How do you accomplish this and maintain a good customer experience?
One way is by creating a lead scoring system. In a world where customer journeys look more like a maze than a well-paved road, B2B marketers must understand and leverage these journeys to maximize sales opportunities. Implementing a lead scoring process creates a cohesive customer experience by taking the guesswork out of how the Top-of-the-Funnel effort is measured, and delivering a process for establishing a singular focus on revenue generating activities and performance.
Assuming HBR is right and the oil price remains unsteady as the new operating norm, companies will need to monitor their investment and budget closely and proactively pivot. Knowing which activities contribute to positive marketing ROI and which deliver minimal value is a necessity to remain competitive. Hiring managers should be looking for ways to help the company operate with agility which means your Marketing Leadership needs to have the skills to know when something is working and why. Some other factors to consider when hiring your next Senior Marketer...
In Part 1 of this blog series we set the tone and introduced the 6-Step Process we've developed for Market Analysis. In this edition we provide examples and details of each step so businesses can objectively evaluate their product-market fit and set realistic revenue targets.
