We often refer to ourselves as 'end-to-end demand generation' specialists, which can be defined many ways, but what we mean is to map and measure the interactions between a prospect and a brand from first contact to sale...to repeat business. Curiously, most marketers we work with tend to focus on the first two parts of that statement but not the 'repeat' bit. Why? Well, once the deal's done, it's someone else's responsibility (normally sales). Brands don't tend to see value in using marketing messaging to hit existing customers (unless it falls under the ABM banner). And yet, the highest growth in revenues comes from existing business, as this article examines.
It's a cliche but B2B marketing really should be looked at as a never-ending cycle.
Nearly 80% of companies spend less than 30% of their time and budget on customer retention-focused messaging and content, according to a recent report while 42% of respondents say their companies invest less than 10% of their marketing budgets on renewal messaging efforts.