Customer Engagement Marketing
Customer Engagement Marketing, an emerging B2B growth strategy focusing on tailored messaging and specialized functions for existing customers—who generate 70-80% of revenue—addresses the shortcomings of one-size-fits-all acquisition tactics by reducing churn and boosting renewals and upsells through a dedicated Customer Expansion funnel and research-backed engagement methods.
Most companies allocate less than 20 percent of their marketing budgets to activities focused on existing customers. Rather than tailoring messages and engagement strategies for current customers, many organizations use a one-size-fits-all approach to drive demand, regardless of whether the recipient is a prospect or an existing customer.
However, this approach can be detrimental. Research indicates that using acquisition-focused messaging with existing customers puts those relationships at risk, reducing the chances of securing key renewals and upsells by at least 10-16 percent.
Customer Engagement Marketing is an emerging role that is quickly becoming a key growth engine for B2B organizations. This is especially important considering that existing customers account for 70-80 percent of company revenue and growth.
In a webinar replay featuring Tim Riesterer, Chief Strategy Officer at Corporate Visions, and Gal Biran, Co-Founder and CEO of Crowdvocate, the following topics are discussed:
- Specialized Responsibilities: The five elements of a Customer Engagement Marketing function and how they contribute to customer expansion.
- Second Funnel: The differences between a Customer Expansion funnel and a traditional Prospect Acquisition funnel.
- Dedicated Approaches: Research-backed messaging strategies for decreasing churn and increasing upsells.
Don't settle for a one-and-done marketing approach. Instead, consider how a dedicated Customer Engagement Marketing function can help drive customer renewals and expansion.