Many B2B marketers are already focused on customer retention, according to new research, but that doesn’t mean there isn’t room for improvement.
Brightback recently surveyed B2B, B2C and hybrid marketers to gauge how they rank their customer retention effectiveness. Statistics showed that majority of B2B marketers (68 percent) believe their company “appropriately” prioritizes customer retention. However, 29 percent think that they could be doing better. Just three percent said they over-prioritize retention at the expense of other initiatives.
“Because each B2B buyer represents a much greater revenue opportunity with the customer relationship lasting months or even years, there’s more value in B2B companies providing education, personalization and flexibility to keep customers satisfied,” concluded the authors of the report.
Excluding product improvements, most B2B marketers (32 percent) believe that regular monitoring and classifying of subscriber churn will have the greatest impact on customer retention at their company this year.
Customer Retention vs. Lead Generation Success
Most marketers are focused on customer retention, according to previous research, but it isn’t necessarily their top priority.
Ascend2 conducted the “2019 Digital Marketing Strategies Survey,” and statistics showed that the majority of marketers (64 percent) are focused on achieving an increase in sales/leads with their digital marketing strategies. This is followed by customer retention (55 percent) and increasing customer engagement (49 percent).
Most marketers (49 percent) say they have been “somewhat successful” when it comes to achieving their digital marketing strategy goals.