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B2B marketers look to match B2C in level of customer experience

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Customer experience (CX) has become an increased focus for marketers across industries, but many B2B marketers feel as though they need to catch-up to their consumer-facing counterparts to deliver better experiences.

Nearly 90% of B2B marketers think their organizations need to be as focused on customer experience as their B2C counterparts, according to a Dun & Bradstreet report (download required). And while 38% of B2B marketers believe they outpace their competitors when it comes to creating and delivering customer experiences, nearly a quarter indicated they feel as they are lagging behind.

If marketers from both B2B and B2C organizations are so focused on delivering personalized, omnichannel experiences, why do so many B2B brands struggle with CX? According to those surveyed, over one-third cited the inability to use the data and tools they already have in place as their biggest CX challenge. The inability to identify customer touchpoints and lack of insight into the customer journey were also notable challenges.

Why we should care

For B2B marketers who are committed to improving customer experiences, establishing data governance will play a critical role in their marketing strategies for the coming year. Among the long list of data governance challenges, most marketers are familiar with siloed data and dealing with incomplete customer data. According to the study, emerging technologies such as customer data platforms (CDPs) and data management platforms (DMPs) are being increasingly used by both B2B and B2C marketers to manage the firehose of data they are generating. Ultimately, B2B brands don’t need more data, they need to make sense of the data they already have, the study concludes.

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“Unlike B2C, in B2B there is not a single buyer, so having a full customer picture of both the individual and the account is critical to deliver on the promise of personalization,” said Lauren Bakewell, chief product officer, sales and marketing solutions at Dun & Bradstreet. “Without the ability to centralize the many aspects of customer and prospect data, it is very difficult to see customers holistically at both an account and individual level and deliver a personalized and consistent customer experience to each. Simply put, informed and personalized omnichannel experiences mean more sales, stronger loyalty and greater long-term customer value.”

More on the news

  • 84% of marketers say their teams will be putting more focus on data in the next year.
  • Measurement and analytics came in as a top priority for nearly 70% of respondents.
  • Account-based marketing (ABM) continues to be a critical approach for B2B marketers to use data as a competitive advantage.
  • The 255 survey respondents were all B2B marketers with a job title of manager or above.

About The Author

Jennifer Videtta Cannon serves as Third Door Media’s Senior Editor, covering topics from email marketing and analytics to CRM and project management. With over a decade of organizational digital marketing experience, she has overseen digital marketing operations for NHL franchises and held roles at tech companies including Salesforce, advising enterprise marketers on maximizing their martech capabilities. Jennifer formerly organized the Inbound Marketing Summit and holds a certificate in Digital Marketing Analytics from MIT Sloan School of Management.

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The HubSpot Blog’s 2022 Social Media Marketing Report: Data from 310 Marketers

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The HubSpot Blog's 2022 Social Media Marketing Report: Data from 310 Marketers


In our recent Marketing Trends survey, we learned that social media is the most effective channel marketers leverage, as well as the channel they use most.

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MARKETING

How to Grow Your Customer Base

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How to Grow Your Customer Base


Every business owner wants more, is never satisfied with the customer base, and will do whatever is required to grow their brand and increase conversions. That’s because the growth of your company is directly dependent on customer base growth.

Especially the ones that keep returning to patronize your business after their initial purchase. But customer base growth is tough work. And if you don’t know what you do, you’ll end up wasting resources on endeavors that yield little to no results.

However, today we have a ton of skill sets, tools, resources, strategies, and information at our disposal than ever before that can help ease up the process. How do you take advantage of all of them to boost your business?

Do you run a loyalty program? Or launch a referral program for customer acquisition? Or do you opt for traditional marketing?

What are the most powerful ways to boost your customer base? We’ll help you out with the answer in this article. But first, we’ll define a few basic terms to ensure that we’re on the same page.

Let’s get started.

What is Your Customer Base?

Your customer base is made up of your repeat customers. These are buyers who keep returning to your business to purchase more of your services and products. They are loyal as well as display loyalty to your brand, even engaging with it on various platforms and channels.

These people are your organization’s most prized assets. So when we talk about “customer base”, we mean buyers who don’t just patronize your business once but who keep coming back for your offers.

What is the Difference Between Your Target Audience and Customer Base?

Your target audience is made up of the people that your product or services are made for and that you want to purchase your offer but haven’t yet. These people are the wide pool where your customer base is gotten from. Your customer base, on the other hand, is made up of your current customers who keep purchasing from you.

How Do You Know the Size of Your Customer Base?

The size of your customer base can be calculated through various means but the simplest way to do so is to capture the data of every prospect turned buyer via a contact detail like an email address. This way you can know the people who buy from you and generate offers that suit them.

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Steps to Grow Your Customer Base

Let’s have a look at the various ways you can boost your customer base:

1. Use User Generated Content

Fashion retailer Monsoon requests shoppers to share photos of themselves using their product, which are then used on their website.

User-Generated Content is brand content created by customers. The thing is, people would likely listen to a fellow consumer talk about how great your product is based on their personal experience than if you do it yourself. So obviously you need to improve your customers’ experience with your products before encouraging them to produce content about their experience.There are so many ways to encourage user-generated content.

Take the chips brand, Doritos, for example. To keep customers engaged with the brand and generate user content, they launched a website doritoslegionofthebold.com that allows users to create branded videos and images that the company shares on its social media platforms.

You can also create a social media giveaway that involves customers making Instagram posts using your product with a caption about their experience and the best one wins a reward. These posts are then reposted by your official page and prospects can see what other people think about your offer and this motivates them to trust your brand and make a purchase.

2. Referral Program

Casper mattress referral program

Just because people like your product doesn’t mean they’ll recommend it to others. It’s your duty as a brand seeking to boost its customer base to induce this behavior via incentives, which is what a referral program is. Consumers believe the opinion of their family and friends more than they do yours and that’s where the power of referral marketing comes in.

You tell your existing customers to promote your business to people in their circle and in exchange, reward them for their actions. So not only are they telling people about their experience with your business because they love it but they get a reward for doing so, which motivates them further.

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Here’s how fashion brand Rent the Runway does it. They run a referral program that offers $30 in store credit to customers in exchange for them referring the business to their colleagues and friends. And in addition the referred friend also gets $30 in credit for use in the store.

3. Engage Your Customers and Ensure they’re Satisfied

Starbucks loyalty program incentives

The primary way to build a customer base is to ensure that you retain your customers. One-off purchases have their place but if you intend to grow as a business you need customer retention. And the only way to do this is to ensure that they’re engaged, happy, and satisfied.

How do you achieve this? Loyalty programs.

A great loyalty program works by offering existing customers a reward for continuous patronization of your business. The rewards can be discounts after say 5 purchases, or a free product or service after a specific number of purchases. With loyalty programs, you can even give specialized offers on the birthday of your customers to boost engagement and make them feel valued. Set up a recurring emails campaign to ensure your customers receive scheduled messages with special offers, discounts and promotions.

The whole idea is to show your customer that you value their continuous support of your business and at the same time, you get them to make recurring purchases with the reward as an incentive.  

Jillian Michaels runs a fitness app that does this excellently. The app offers badges to users once they complete particular tasks to ensure that the customer feels appreciated as they use the app. In this way she incentivizes customers to use and subscribe to the app as they feel valued with each reward.

Another way to ensure that your customers are happy and engaged is by offering stellar customer service. If buyers have questions and they’re unable to get answers, problems will arise. Customer retention is most demanding after a buyer is through with their purchase. So you need to provide your current customers a place where they can return to ask questions to give feedback. For example, you can use a cloud phone system for your business to deal with customer inquiries faster and therefore understand your customers’ pain points beter.

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After all, adhering to quality feedback from a customer can help to build your customer base as well because it means solving an issue that bothers customers that you may not be aware of.

Lastly, consider using your knowledge to continually offer educational content that your customers will find valuable and keep them engaged with your platform.  For instance, let’s say that you run a popular SaaS that helps salespeople keep track of their sales pipeline.  It’s obvious that your customers are interested in sales skills, so it would be wise to invest in an online course platform and invite sales specialists from within your company or outside of it to help create a free educational course about sales skills that can provide a ton of value for your customers.  

Conclusion

Growing your customer base involves a lot of work and sometimes can get confusing. However, with the right tips, you can craft powerful strategies as we have seen in this article that will help to not only grow your customer base but keep your customer satisfied and engaged.

With a referral program, for example, you can retain customers by keeping them engaged with the goal of finding new customers and receiving an incentive. In the same breath, you also attract new customers who believe in the recommendation of their family member or colleague more than yours.  Others like loyalty programs help you ensure that your customers are happy and satisfied while enticing them to make recurring purchases from your brand.

So why the wait? Get started!



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MARKETING

5 Social Media Predictions Marketers Got Wrong Last Year

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5 Social Media Predictions Marketers Got Wrong Last Year


The world around us is constantly changing — it only makes sense that the marketing world does too.

Every year, marketers pull out the crystal ball to predict trends and shifts in the coming year. Sometimes we’re right on the tail — and other times the social media marketing landscape surprises us.

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