Ardath Albee, CEO & B2B Marketing Strategist
Business executives confirm that a majority of revenues come from existing customers – 68% according to a survey conducted by SAS and Loyalty 360. Yet most marketers spend the majority of their attention on net new customer acquisition. With contribution to revenues an increasing mandate from executive teams, marketers can benefit by engaging customers to drive cross and upsell. However, it’s not the same thing at all as marketing to brand new buyers. Putting high-strength retention programs into play will require a shift in marketing mindsets.
Customer retention programs require:
· A new approach based on your customer’s status quo
· Developing a better alignment with sales and account management teams
· A new twist on personas specific to customer attributes
· A continuous feedback process that also creates higher quality net new leads