B2B digital marketing needs to focus on customer loyalty: Abdulla Basha
The following article has been authored by Abdulla Basha, Co-founder, Social Frontier
Mr Abdulla Basha is the Co-founder of Social Frontier, a content marketing platform that helps business campaigns to work flawlessly. He is a Marketing AD Technology Internet Entrepreneur with a track record of successfully building new businesses and great places to work. He started his career as an Engineering Officer at AET in the year 2008.
The overall growth of a brand does not depend only on advertising. Brand building is more about bringing your customers back for more because they just love your products and services. The art of winning customers and retaining them is something that takes your business to great heights. In the B2B segment, since the customer pool is smaller than the B2C ecosystem, losing even a single customer can wreak havoc on the business. Apart from having an effective marketing strategy in place, winning customer loyalty is also a key generator of revenue for most B2B ventures. Research suggests that a mere 5% increase in the rate of customer retention can bring in more than 25% profits to a business. Another research reveals that only 29% of global B2B customers are truly engaged to a brand emotionally while the remaining two-thirds were always on the look out for something better in the market. In recent times, customer loyalty and retention are also increasingly dependent on how a business can study, influence and guide customer behavior. Here are some ways your digital marketing campaigns can be tweaked to do more than just the basics.
Employ the Multichannel Approach
Consumer expectations are changing every day in this era of the Internet and information explosion. Today’s B2B customer is hyper-connected and not restricted to only a laptop or a PC in a traditional office environment. Marketing communication seeping through a cross-channel environment must be perfectly seamless and the content smartly designed for short-attention spans. While some people may want continued notifications and updates over email, others may not want their inbox to be spammed. Thus, it is essential to keep customer communication preferences in mind. Opt for a channel that is most crowded with like-minded customers. Experts suggest that it is best to put your focus on the communication channel that lets you build a trustworthy and intimate relationship with your existing clients.
Be dynamic in your offerings
Smart businesses never assume customer behavior to be constant. Evolve your products and services to meet changing customer expectations. Lift customer experience one step higher by gauging what your clients want from you, why they are engaging with you and how they want it to be in the future. In order to keep your relationship dynamic, businesses have to fine-tune their marketing strategy to pick up continuous signals from customers. Give regard to customer sentiments and capture them in a structured manner. Be open to feedback and give them a platform to raise their opinions and concerns.
Make your research holistic
Before building your content and strategizing your digital campaign, every business must do its own research, based on its offerings and customer orientation. It enables you to paint a clear profile of your loyal customer base and allows you to find ways of adding value to the content. Churn out both qualitative as well as a quantitative overview from your data to get the complete picture before starting out on a marketing journey. Often insights and expertise from a third party can generate invaluable inputs. Tracking customer web behavior and their online footprint is a great way of getting insight into the customer purchasing patterns, preferences, and expectations. Employ key metrics that enable building customer loyalty. These include a number of visits, repeat growth, reduction in churn and tracking email campaigns. Technology allows B2B marketers to analyze all these metrics and more to measure the ROI of customer loyalty campaigns.
Build a community
A loyal customer is often the most powerful marketer of a brand. He not only maintains the emotional and professional bond but also generates more leads for your business by advocating for you. By building an online community you encourage your existing customers to reach out to a large audience on social media on your behalf, besides giving them something to engage in and explore.
Using digital marketing effectively to build a customer-centric business model is a very effective way to retain and gain customers. Some of the top most connected businesses around the world saw their revenues multiply overnight using this model. Digital campaigns are tailored to meet success only with the right strategic foundation and customer insight. Therefore, it is essential to building a thorough framework before setting off on your digital journey.