She suggested B2B marketers should change the questions they ask when it comes to retaining customers: What are they doing today that they weren’t when they first purchased your product? What are they still struggling with? Has a new competitor entered the market?
It can be difficult to convince CFOs of the ROI for current customers, but the numbers back up the investment. There is a 60 percent to 70 percent chance of converting an existing customer, compared to a 5 percent to 20 percent chance of converting a completely new prospect.
Furthermore, 80 percent of a B2B company’s future prospects will come from 20 percent of the existing customer base, according to Gartner.
That’s no longer such a hard sell. Unfortunately, content strategy, customer engagement and personalization are lower-level priorities for most marketers, according to Marketing Interactions’ survey. Those should be the top three priorities, Albee said, and once that switch is made, lead generation and brand awareness will follow.