Business marketers have much to gain from retention marketing. Business customers tend to be fewer in number, and each is more valuable—meaning you can’t afford to lose even one. But how do you keep your customers active and buying from you, vs. the competition? How do you prevent defection?
Let’s look at seven strategic approaches to retention marketing that, in judicious combination, can enhance the retention of the business customer base and, in turn, drive additional revenue and profit.
1. Meeting and exceeding customer expectations
The first essential strategy in retention marketing is to deliver on the promise made to the customer at the point of acquisition. Meeting customer expectations is simply “meets minimum requirement for doing ongoing business.” Any dissatisfaction with the product, service, or experience will be an insurmountable barrier to retention. The best retention marketing in the world cannot overcome product problems.
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