According to the 2017 State of Customer Marketing Report from Koyne Marketing, sponsored by Influitive, even seasoned marketers concentrate their energy and resources on lead generation and conversion of net new customers, rather than revenue generation and expansion, or “marketing.”
This often neglected “Customer Marketing” is not just renewal or repeat purchase efforts, but the complete set of activities undertaken by a company following a customer’s purchase of products and services, says the report.
There are several reasons why Customer Marketing can be so profitable, says the report:
Building on existing customer relationships and deepening their knowledge allows companies to provide better service and to develop new features, products, and services that meet customer needs. According to The Incite Group, 91% of B2B buyers are influenced by word-of-mouth when making buying decisions, says the report.
Koyne Marketing has conducted a survey of company leaders and top marketers in order to better articulate the ways in which customer marketing can expand revenues, says the report. The survey examines how organizations currently manage the planning, resourcing and measurement of existing customer marketing efforts. Key findings reveal data that will be useful to help your organization expand revenues and maximize your own success with customer marketing.
With collected data primarily from CEOs and marketing executives at more than two hundred B2B organizations with small companies with annual revenues up to $25M, medium companies reporting revenue between $25M and $1B, and large companies with revenue greater than $1B, the analysis reveals some significant findings:
For the balance of this report detailing the survey results and analysis, please visit Influitive here.