Study: B2B Marketers Remain Focused on Customer Acquisition

Research now suggests that marketers are placing a greater priority on acquiring new customers, rather than retaining existing ones, despite the cost associated with doing so.

The “B-to-B Loyalty Report” from Merkle shows that most B2B marketers (75 percent) are focused on acquiring new customers. This is greater than the 72 percent who claim that they prefer to hone in on retaining existing customers. According to the report, acquiring new customers can cost organizations up to five times more than retaining existing buyers.

B2B Program Objectives

To keep existing customers around, many B2B marketers are creating loyalty programs. Approximately 48 percent believe that spend-based pricing is what loyalty program members value most. The same percentage claim that incremental preferred services are valued most, while 46 percent think that relevant rewards are most desirable.

Once B2B buyers join a loyalty program, most (57 percent) claim that dedicated support is of the utmost importance. This was followed by financial incentives (54 percent) and industry knowledge (45 percent).

“Over time, resources that deliver long-term value become more important, especially if they are built on customer-centric services and guided by B-to-B seller expertise,” wrote the authors of the report.

Marketing to Satisfy Heightened Customer Expectations

To keep buyers coming back for more, research suggests that delivering an enhanced customer experience may be key, and B2B marketers are focused on delivering.

“The Complexities of B2B Sales Require Thinking Beyond Today’s CPQ” study produced by Forrester Consulting and FPX discovered that 68 percent of B2B professionals believe providing a high-quality customer experience is “very important” to their sales strategy. Nearly 70 percent think that customers today have higher expectations on the experience they have during the buying process.

“B2B firms recognize the significance of increased buyer expectations. And they understand that delivering a consistent and high-quality customer experience for both customers and users (such as sales reps and partner channels) is essential to sales strategies today,” wrote the authors of the study.

“After several failed attempts to find a good SEO product, we were lucky enough to get introduced to KoMarketing. Derek and his team were able to clearly articulate an SEO strategy for our business. They worked closely with our developers to revamp our commerce site in a way that had minimal redesign impact, but big increases in organic visits and transactions. The team also did a fantastic job helping us measure results. I highly recommend KoMarketing to anyone looking for an SEO solution.”

— Kevin Bridges, Innovation Leader - Imagineer at Hallmark Cards

Start a conversation with the KoMarketing team:

Complete our inquiry form now