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It snowed here this week. I won’t lie… there is a part of me that wants to sail away and return to warmer climates! Instead here’s a little jolt from my favourite band, Led Zeppelin, to pick us up. This song always seems to mirror my mood and if you listen right until the end, you get to hear a huge rock and roll “GONG!” Who doesn’t love that?!
Here is what the experts are saying, and some takeaways from the past week:
What Is… Right in Front of You
How is your retention marketing plan? It’s tempting during the current upheaval to reach for the latest shiny object or new client. But an effective B2B retention marketing program can extend the customer’s buying period as well as the total amount spent. Why is this important? A 5% increase in customer retention can deliver up to a 95% increase in profits (Harvard Business Review)!
Marketing Insider Group outlines six ways to retain customers:
- Onboarding & education
- Customer training
- Constant communication
- Ongoing customer support
- Surveys & testimonials
- Customer appreciation
While we love to talk about B2B customer acquisition all day long, maybe it’s time to hit the pause button and think about effectively cultivating the customers we already have. Show them a whole lotta love!
What Should Never Be… So Stop Doing This!
In the rush to end the year strong and talk to everyone before the holidays start, it’s easy to let some things slide. But if you want to squeeze the most out of your marketing to boost sales, WebFX has identified the following common B2B marketing mistakes:
- Focusing too much on your company – In your pitches, get over yourself quickly and focus on how you will help the prospect with their problem – webinars can be guilty of this.
- Neglecting to test your campaigns – How can you really know what’s working without testing? Advanced marketers test various components to maximize effectiveness rather than taking a simple pass-fail approach.
- Disregarding calls to action (CTA) – This is all about guiding leads to take the next step in your buying process – always try to be specific.
If you want to improve your results, then attack the problem. We all make mistakes so don’t beat yourself up. Just start making even small improvements, and over time you’ll reap the rewards.
The Eternal Revenue Stream of Led Zeppelin
I’ve learned a lot about B2B from Led Zeppelin – they were very savvy with their business practices and reinvented the way that bands toured and generated revenue. They are also a great example of a business that cracked the code on an ‘eternal’ recurring revenue stream! By adopting innovative strategies to connect with and expand their audience, the revenue keeps flowing.
We all strive to build these recurring revenue streams in our businesses – how can you use some of these concepts from Zep in YOUR business to generate revenue??
Convert Your B2B Leads Like the Pros – Recording
It’s almost year-end – do you want to get your leads flowing? Access this newly recorded webinar that outlines some of the best practices in B2B lead follow-up provided by our great panelists Tyler Lessard (Vidyard) and David Blackwood (Outside GC). Check it out here – the conversation was so enthralling, we broke our 29-minute rule!!
As always, don’t hesitate to call me to brainstorm or ask how I can help.
Looking forward,
Rick
Rick Endrulat | President | Virtual Causeway | 519.866.1600 x622