in Selling smart
Heralded as a silver bullet in guaranteed revenue streams, customer retention is still largely a minefield for many businesses. With around of 20% of customers not returning to nearly a third of businesses after their first purchase, retention is becoming a big problem in many businesses.
Depending on what industry you’re in, acquiring a new customer can be 5 – 25 times more expensive that retaining an existing one. Research by Bain & Co
A B2B customer loyalty program can drive revenue, improve retention and guarantee repeat sales. Here are a few pointers to be aware of when creating your own B2B customer loyalty program.
Whether you’re selling to a business or an individual, there’s one thing that B2C and B2B markets will always have in common – the decision maker is a human. Sorry if that revelation has caused you to spill your coffee, but it’s a fact.
As humans we have common values, emotions and expectations when it comes to the act of buying, which we don’t simply disregard the moment we step into our place of work.
Sales and marketing theorists have always considered there to be a gulf of difference in the B2B vs B2C marketing approach