We are all aware that clients who are completely engaged are more likely to be loyal customers. As a result, it's simple to understand how customer marketing will play a pivotal part in how B2B companies recruit clients in the near future.
Customer marketing is critical to the retention of customer bases in any type of business, whether corporate or more entrepreneurial start-ups. So, what exactly is it, and why is it so critical to ensuring your company's competitiveness and avoiding losing significant clients to competitors in your industry?
Let's begin this post by looking at a quick explanation of what customer marketing is and how all organisations should use it to keep vital client bases and remain at the forefront of the sector.
(Take a look at what B2B Marketing means.)
What is Customer Marketing?
Customer marketing focuses on improving customer retention and growth by enhancing and exploiting current customers' perspectives. Customer marketing success is dependent on appropriately fragmenting your audience, communicating with customers successfully, and sustaining a customer participation programme.
Client marketing, in a nutshell, is a sort of marketing that focuses on your present customer base rather than prospective possibilities. Any marketing action or campaign aimed at current customers is referred to as customer marketing. If an effective marketing plan is implemented, this type of focused marketing may provide a number of significant results, including:
Encourage, develop and maintain customer loyalty.
Creates brand ambassadors
Creates a thriving community around your product or service.
One will be more concerned with the customer journey or with brand supporters, whilst others may be more concerned with upselling or cross-selling.
This form of marketing encompasses any type of marketing effort that is specially tailored for existing clients. The simplest approach to thinking about consumer marketing is to recognise that you want to develop plans for them. Let's look at how we may address those needs further down.
(Related read - Top B2B Marketing Strategies)
How do we determine what our consumers want?
Understanding specifically what your clients want, from the initial point of contact to any form of after-care or support, is straightforward if you can understand their wants.
There are several methods to begin building a picture of how your customers respond to, purchase, and generally use your service or brand. There are several methods for determining your customer's wants. This might be any of the following:
Conducting keyword research is one of the first steps in determining your customers' wants. When looking for or needing an answer on a service or product, many customers turn to Google first.
Observing the atmosphere on social media
Learning what others are saying about your company or sector is a great way to develop a successful social media marketing strategy.
Focus groups with customers
A focus group may appear to be an old-fashioned method of gathering information from your consumers, but even in this more modern-day, it can be an effective means of determining your customers' requirements.
Gather client feedback
Make sure you include a strategy for properly utilising the feedback after it has been gathered. It's easier to gather it than to discard it before any adjustments are made.
Distribute any information and data obtained from your consumers effectively, and ensure that this data is communicated with all those who need it, such as essential stakeholders and senior management.
The Need for Customer Marketing
With the retail and consumer environment becoming more digitally and technologically savvy, attracting new business is more difficult than ever.
According to a survey conducted by industry experts, customers who had a great connection and a personal attachment to a business provided a 23 percent gain in revenue when compared to the ordinary client.
Another study discusses the average return on investment from marketing to existing clients. These data clearly highlight the importance of having a successful customer marketing strategy in your company. In addition to being less profitable, recruiting new clients is more difficult than ever.
(Also read - Customer Experience Trends)
3 Customer Marketing Strategies to Help Your Business Grow
3 Customer Marketing Strategies
This is a critical marketing approach for acquiring new consumers. As soon as a consumer joins up for or buys your goods, greet them with a personalised, meaningful greeting.
This can take the shape of a "getting started" email, a sign-up voucher, or just welcoming them to your community and providing some pointers on how to make the most of your product or service.
The first point of contact is all about making a good first impression and displaying the level of service your clients can anticipate from your brand during and beyond the onboarding process.
Marketing with Brand Ambassadors
You've nailed that lovely welcome email, and your consumers are all comfortable on the inside. So, what now? Begin by establishing a pipeline of clients who are actively providing feedback from the start. These are your champions, and they are incredibly important as both repeat customers and brand ambassadors.
Identify these consumers and begin collecting their tales to ensure a continual stream of new material! One of the most effective client retention tactics is word-of-mouth marketing, which uses existing consumers.
Customer Success and Customer Marketing Synchronization
Once you've made a sale, your work isn't done. The value of customer happiness in marketing cannot be overstated — this is your low-hanging fruit, and a good place to start when it comes to minimising turnover. Here's the kicker.
How about if someone tells you that customer marketing can increase customer satisfaction and also that business could be at the vanguard of customer marketing by linking customer success and assistance with marketing firms? It makes complete sense when you consider the link between revenue effect and customer pleasure.
(Suggested Read - Revenue Marketing)
Clever Ways to Boost Customer Satisfaction
As part of a customer marketing plan, here are some clever strategies to boost your customer satisfaction:
(Speaking of Website, check out Website Analytics)
Advantages of Customer Marketing
Reduced Customer Churn
You will be in a superior position to retain clients if you listen to and respond to your present and prior consumers. Most company owners are aware that acquiring a new client may be far more expensive than merely retaining an existing one.
In contrast to being more inclined to renew their agreements, highly pleased consumers are also more willing to upsell to your company.
Increase in Income
Keeping your present client base engaged and pleased equals more money in the company's treasuries and, in the long term, more revenue in your wallet. Knowing your consumer base intimately raises the possibility of developing a long-term meaningful relationship with them.
According to a recent McKinsey analysis, word-of-mouth (WOM) is the most crucial factor influencing between 20% and 50% of all purchase decisions.
Appealed to both present and prospective new consumers
Establishing a customer-centric marketing plan has the benefit of not only keeping your present customer satisfied and loyal, but it may also help you find new prospects. Customer marketing has a good track record and may assist enhance conversions with customers who may have not earlier known your organisation.
Excellent Approaches to Get Customer Initiatives Off to a Good Start
Your marketing activities will be critical in ensuring that your essential client and customer base remains loyal to you. It might be difficult at times to reach out to your existing consumers in ways that demonstrate actual value, respect for their loyalty, and the creation of novel marketing campaigns with an element of surprise.
So, if getting started is proving challenging, you may begin with the marketing channels that you currently have in place to reach your critical existing clientele.
Some of these channels might be online marketing and events, mailing through direct mail, communications via email and newsletter, social media platforms like Twitter, Facebook, and Instagram, webinar, Newsletters
Having these channels in place will make it easy to surf the wave and provide your consumers with something really relevant to their requirements or desires.
For example, if you send out a monthly newsletter, it could be a good idea to dedicate a segment of the email to the "ten" pain problems you know your clients have. Or perhaps you could provide information about a webinar where they can ask you questions directly.
(Recommended blog - Viral Marketing)
The strong point is that a customer-focused marketing approach is intended to keep those hard-won customers by knowing as much as can about their demands, needs, desires, and, most importantly, their behaviour.
It is critical for your marketing strategy to place your key customers at the forefront of your marketing in order to have a significant influence on revenue creation while being competitive on the market.