In October of 1984, R&B legend Stevie Wonder released his most prolific hit ever: “I Just Called to Say I Love You.” Not only did this love ballad reach number one on the Billboard charts, but it also ascended to the same lofty perch on more than 20 others worldwide.
While marketing and music may look (and sound) very different, both strive to communicate a message and connect with their audience on a personal level. So, take a page out of Stevie Wonder’s playbook and let the name of his song inspire your marketing organization to take the same approach with your customers. Don’t wait for a holiday or special occasion to let them know how much you care.
Focusing your marketing efforts on your customer base is certainly a way to do that, while also driving retention, increasing customer lifetime value (CLV), and creating brand advocates in the process. The trouble is, very few organizations have a focus on their base. According to Semrush, only 18% of organizations focus on customer retention.
Here at BDO Digital, we believe that generating demand within your customer base is vitally important to the overall success of your demand generation initiatives. We believe so firmly in this idea that Demand Expansion is one of three core pillars that make up The D3 Methodology, a demand management framework designed to help marketing organizations maximize revenue growth:
As you can see from the graphic above, Demand Expansion covers several different areas. If you want to generate more revenue from your demand generation initiatives and create advocates for your brand, however, there are a few you should zero in on in particular:
- Defining the journey (CUSTOMER JOURNEY DEVELOPMENT)
Just like you do when you’re launching a customer acquisition campaign, defining the customer journey is the first stage of Demand Expansion. Why? Because the journey they take once they become a customer will vary greatly based on a number of factors, including:
- Products or services purchased
- Amount of their spend with your company
- Size of the company
- Market segment
To believe that all customers will follow the same path is wishful thinking. You will likely need to document several versions of the customer journey to account for multiple scenarios and come across as authentic. Additionally, be aware that you may have new personas that are now involved that may not have been during the initial purchase process. Identifying these roles and creating profiles for them will enable you to market to them more effectively — and let them know you care.
- It is ALL about the experience (CUSTOMER EXPERIENCE)
The new competitive battlefield in B2B does not come down to price and product. It is all about the experience. And to be clear, customer experience (CX) begins long before that first purchase is even made.
Customers these days not only expect a great experience, they demand it. And they have no issue changing brands or products if you don’t deliver. This means that you have to understand every single touchpoint you have with a customer, know what the customer wants to feel at each touchpoint (yes, it’s about human connection), and identify who in your organization is responsible for delivering that experience. It’s no small task, but this is a must if you want to retain and grow revenue within your customer base.
If you need some assistance in understanding and evangelizing the need for CX in your organization, my friends at SuperOffice made it easy by compiling these great statistics that prove CX should be a top priority for any business.
- Getting started (CUSTOMER ONBOARDING)
One mistake I often see with brands is how fast they look to generate additional revenue from a new customer. Many times, the ink on the contract is barely dry when emails begin about upgrades and additional products, which only serve to overwhelm the customer.
If you want to get started on the right foot with your customer base, focus on onboarding them and driving adoption for the solution or service they just purchased. This can be done in a number of ways:
- A thank you call from the sales rep or customer care rep to thank your client for selecting you as their vendor and assuring them they made the right choice. Don’t ever forget that people make these purchases, and providing them that reassurance can help alleviate any doubts they may have on if they made the right choice.
- An email to the customer letting them know what to expect now that they are a customer. No matter if it is a product or a service, the most frequently asked question is, “Now what?” Make it easy for them and set the expectations for your customers.
- Weekly updates that detail how your customer can get the most from their purchase. Provide insights and tips on what they can do to maximize the value of their purchase. Providing help in this matter will only endear them further to your brand and deliver a better overall experience.
- Continue to build the relationship (CUSTOMER NURTURING)
One of our clients’ customers once told me, “The only time I hear from them is when they want my renewal. It does not make me feel like they are invested in our business.”
A pretty damning statement, but one that emphasizes the need for brands to nurture their relationships with their customers. Many marketers think of nurturing programs as a means to an end (a sale). Nurturing programs, however, shouldn’t always focus on getting your customers to buy more. They should also help improve their business and deliver a better experience. Make it about them, not you.
Don’t forget to let your customers know you care
My hope is that more brands will take the time to focus on marketing to their customer base, improving their retention and delivering a world-class experience for their customers. Doing so will help you significantly move the needle in creating an always-on revenue engine.
If you would like to talk more about your Demand Expansion, or any part of The D3 Methodology, book some time with me here.
As Chief Strategy Officer, Carlos Hidalgo guides DemandGen’s enterprise clients on developing their strategy and initiatives for digital transformation, helping to make the complex world of digital marketing simple while driving revenue and achieving operational excellence. Carlos is widely recognized for his expertise in B2B change management strategies, marketing, sales, content development and demand generation, and has spent the past two decades helping enterprise marketing and sales leaders optimize their approach to demand generation for maximizing revenue growth.
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