Raise Prices for B2B Sales Without Losing Your Regular Customers
Sales Prospecting Perspectives
NOVEMBER 12, 2014
Sales Prospecting Perspectives is pleased to bring you a guest blog from Colleen Francis, After three years of selling products and services at the same prices, your company decides a change is in order. It’s time to make a few price increases to better reflect the current market and rising costs. And yet there are several other pricing methods that businesses employ as well.
New Developments in B2B Loyalty Marketing
NOVEMBER 21, 2012
Let’s look at the traditional approaches to retention marketing in B2B, plus some new developments in loyalty marketing being adopted by B2B marketers today, including social media and gamification. . Given the importance of customer retention in B2B, business marketers have a long history of investing in loyalty drivers. New developments in loyalty for business markets.
A Loyalty Program Becomes a Retention Hub
JUNE 7, 2016
Simple economics tell us that these prices are on an upward trend. The solution is to use a loyalty program as a hub for your retention marketing tactics. Loyalty as a Retention Hub. Here are a few examples of how a loyalty program can make your retention marketing efforts much easier by centralizing everything in one place. Centralize Retention with a Loyalty Program.
How to earn customer loyalty in the age of chat
FEBRUARY 3, 2016
You see, an ordinary customer simply buys your products or services, likely based on price for value. loyal customer, however, is one that will buy from you regardless of price. Customer service is both a logical and excellent place to start your loyalty-building efforts. The post How to earn customer loyalty in the age of chat appeared first on Biznology. ” Wait.
Brand Loyalty Begins with Giving a Sh*t
B2B Marketing Unplugged
AUGUST 10, 2015
Related Posts: It’s Time to Get Your Pricing House in Order. I think marketers spend a lot of time and calories talking to people who really don’t give a sh*t. We like to call this awareness building –the first stage in our Journey of Unreciprocated Love. Awareness, it seems to me, is lately about interrupting people long enough to think about your products or brand.
7 Customer Loyalty Programs That Actually Add Value
APRIL 3, 2012
If you’re like 65% of marketers, your company has implemented a loyalty program. According to the 2011 Colloquy Customer Loyalty Census , of the $48 billion worth of perceived value in reward points and miles distributed by American businesses annually, one-third goes unredeemed by consumers. It’s time for marketers to look beyond convoluted rewards systems and offer actual value to customers using their loyalty program. To get you started, here are some ideas for customer loyalty programs that might work for your business. But is it working?
3 Ways B2B Brands Should Use Membership To Grow Advocate Loyalty
APRIL 3, 2015
Organizations like it for obvious reasons: recurring revenue and long-term loyalty ! SurveyMonkey successfully transitioned from a single monthly fee to a three-tiered pricing model so they could cater to large enterprise companies and keep their loyal core of smaller customers happy. Then, they created their new pricing levels based on the customized experience each group craved.
Discover 3 Types of Marketing Automation Engagements for Agencies
OCTOBER 9, 2014
The economy has recovered a bit, but it’s still a very competitive environment for marketing agencies, with thin margins … and thinner client loyalties. There are many different ways marketing agencies can package and price marketing automation services to increase client loyalty and improve overall profitability. Provide Design and Development Services.
The New Loyalty Formula
Manhattan Marketing Maven
NOVEMBER 18, 2012
Brands crave loyalty. They can be swayed by price offers. The points based system, pioneered by the airlines and expanded by credit cards and grocery chains, seems to have limited appeal as an across-the-board loyalty solution. For grocery stores this means -- find all the coupons for stuff I buy, put them on my loyalty card and automatically deduct the discounts when you ring me up. The new digital formula for loyalty programs is WiiFM + DiFM Consumers are much more ambivalent.
Important New Research on Customer Loyalty
Jill Konrath's Fresh Sales Strategies Blog
JULY 18, 2012
You feel betrayed by their lack of loyalty. You did everything possible, but they didn’t give you a good enough price to compete effectively. Recently the Corporate Executive Board did an in-depth analysis of customer loyalty drivers. Here are the primary factors they uncovered -- and the percentage of their contribution to loyalty. Here’s the deal.
How to Find The Best Influencers for Your Company
JUNE 21, 2016
This is another complete influencer marketing solution, complete with the price tag (it starts at $350 per month). Advocacy & Loyalty influencer marketing influencersWhat’s the hardest thing about influencer marketing? Is it defining the strategy? Tracking the results? Or finding the influencers? According to the study, 75% of marketers struggle with it. This is the branding step.
Make the most of your CRM this year
FEBRUARY 26, 2016
When used correctly, it can help improve customer retention with better service and more personalized marketing, which leads to customer loyalty. Customer service is expected to be the key differentiator , even over price, by 2020. Customer Loyalty. When you combine stellar customer service with personalized marketing, over time, you build customer loyalty.
Beanstalk Data Adds Service to the Marketing Automation Recipe
Customer Experience Matrix
OCTOBER 10, 2011
Pricing is starts at $1,500 per month for a complete marketing automation system, although clients who want just email and lead scoring can start for as little as $600 per month. The company also has a loyalty system marketed under the Beanstalk Loyalty label. loyalty systems marketing automation software beanstalk dataAnyway, back to BeanStalk.
Why Word of Mouth Should Be a B2B Marketer’s Top Priority
APRIL 28, 2015
This can be an excellent way to get more out of price negotiations, especially when you’ve reached the limit of what a client is willing to spend. Advocacy & Loyalty B2B Marketing referral Word of mouthWord of mouth is the original marketing channel. Before social media, before email, before even radio ads, direct mail, or billboards, there was word of mouth. question. Is that it?
5 Easy (and Affordable) Ways to Show Customer Appreciation
JANUARY 13, 2014
Customers also have more options to choose from when it comes to purchasing – whether it’s supporting a local business, shopping for the best price, or shopping online for convenience. Try out some of these tips and start earning more customer loyalty. Customer Service customer appreciation Customer Experience Management customer loyalty Loyal Customers Thank you
Using Social Media to Increase Brand Loyalty
DECEMBER 15, 2010
Airlines use frequent flier programs to try to increase loyalty. Social media can also be used to increase brand loyalty if we first identify what makes someone loyal to a brand. Loyalty vs. Repurchasing There’s a difference between brand loyalty and repurchasing. What if another product of similar quality was offered for a lower price? Probably not.
The Anatomy of a Profitable Ecommerce Rewards Program [Infographic]
JANUARY 14, 2016
But competing on price is a race to the bottom. Loyalty programs can drive high margin repeat business, but most programs fail to add value to the customer experience. To get real value from your customer loyalty program, you need to go beyond the discounts. The infographic below from Selfstartr shows that loyalty programs are often misunderstood by brands. Ecommerce
Show Some Love – Inspiring Customer Appreciation Ideas
JULY 26, 2013
We’ve compiled some of our favorite customer appreciation gifts, ideas or loyalty programs from various companies to inspire you: Car Dealerships. I’ve recently been looking into buying a new car and several car dealerships benefit programs are top notch. Apps have even been created to keep track of all these loyalty cards with a popular one being Key Ring. Old Navy.
Why Your Ecommerce Promotions Fail
MARCH 31, 2016
When planning giveaways, discounts, coupons, promotional events, and any other special pricing for your ecommerce company, you’re probably already counting your profits in your head. When you can lower the price of a product just to get it out the door, your customers start to wonder just how valuable that item is. Once you’ve tanked your own prices, there’s no going back.
The 2 Reasons Why You Really Lose a Sale
Sales Intelligence View
DECEMBER 16, 2012
“Our product is inadequately priced,” you may say, or, “The prospect has no money.” So is loyalty to a competitor of yours and a prospect’s inability to understand your products. It’s a rare sales rep who’s never lost a deal. We have to lose sales at one point or another. It’s also easy to blame a loss on something out of our control.
Leo Suarez, Toshiba’s SVP Marketing & Strategy: Omni-Channel Retailing—A New Paradigm of Product Marketing
JANUARY 27, 2015
They compete with endless aisles and endless comparisons of products and prices online. Endless Aisle, in Store: Retailers can leverage concepts like in store kiosks, automatic price matching and distributed warehousing to combine the variety and value of online product marketing with the tactile advantages and immediacy of the in store experience. Leo shares examples. Over 1.1
Debunking the 80/20 Rule…and 4 Other Sales Force Myths
SEPTEMBER 21, 2011
Myth : Price, quality and perceived value are the most important factors influencing customer loyalty. Reality: 39% of customer loyalty is based on sales force performance, before and after the sale; 22% on perceived quality / value; 20% on breadth of offering; and 19% on price. Do the top 20% really bring in 80% of the bacon?
It pays to provide Support with Social Media
Buzz Marketing for Technology
MARCH 23, 2010
But after you look at the research below it will be hard to call the contact center a cost center for long. 1) Customers prefer a good customer experience over price – being the low cost provider in any industry is never a safe place to play. But in a recent survey by Forrester customers in every major industry preferred good customer service to price. Tweet This! Digg this!
What is a Marketing-Qualified Lead? What MQL Really Means
OCTOBER 6, 2016
Did they visit our pricing page? Then we’re into a new lifecycle of retention, loyalty, advocacy, referral and upsell with that client – but that’s another post, for another day. Just a few years ago, marketers everywhere rejoiced. Shouts were heard from the rooftops. Glasses were raised. Toasts were made. Reliable marketing metrics were finally here! Or did it? Beyond buzzwords.
SAS by the Sip: SAS Viya Offers Open APIs to Individual Services in the Cloud
Customer Experience Matrix
APRIL 21, 2016
But the triumph of SAS’s pricing approach has been accompanied by new challenges to SAS’s business. Subscription pricing notwithstanding, SAS has largely sold its software for on-premise operation by its clients and required them to purchase a large stack of core technologies. This greatly reduces implementation effort and allows volume-based pricing, both of which lower entry costs to the client. Like Viya, it does not require clients to purchase the full SAS stack and will be priced on volume rather than a simple subscription.
The Rise of Virtual Reality and What It Means for B2B Marketers
AUGUST 30, 2016
It displayed images and prices, and people could buy products with their smart phones. Building on your successes (and failures) through VR will provide amazing experiences for customers, high levels of engagement and brand loyalty that produces excellent long-term results. It wasn’t long ago that virtual reality felt like pure fiction. For marketers, this is the holy grail.
The big challenge for big brands today: authenticity
JANUARY 15, 2016
Before the internet, marketers had relatively free reign for making questionable competitive claims, creating a brand image of superiority, and hence demanding a premium price. We are living in an age of growing skepticism and ebbing loyalty for many established brands. But the internet has changed the ground rules. Today consumers want authenticity. Like this post?
What Are the Two Types of Seasonal Marketing?
It's All About Revenue
AUGUST 26, 2016
This is why long-term seasonal marketing has so much in common with relationship marketing, which “focuses on customer loyalty and long-term customer engagement rather than shorter-term goals like customer acquisition and individual sales” ( TechTarget ). According to Deal News , in 2015 video game prices were slashed by an average of 72% on Black Friday in the U.S.;
5 Things Spotify Can Teach You about Content Curation
FEBRUARY 8, 2016
It has similar pricing and a nearly identical music catalog to the other streaming music services, so how does Spotify set itself apart? These unique user experiences create brand loyalty and trust amongst both paying and non-paying customers, putting Spotify on a pedestal above its competition. . And what the heck does it have to do with your content strategy? Why is This Important?
3 Secrets To Having A Two-Way Conversation With Your Brand’s Customers Online
Buzz Marketing for Technology
NOVEMBER 1, 2013
However, brand loyalty online can be much more fleeting than it is offline. Stop and think about some of the online brands that have your devoted loyalty (no matter what sins they may occasionally commit). For many of us (myself included), it would take a lot to sway my trust, respect and loyalty away from these three online giants. Don’t treat every customer the same.
Sometimes you don’t need community. Sometimes you just need a hamburger
grow - Practical Marketing Solutions
APRIL 30, 2015
But he HAS earned my loyalty. There are still a lot of products out there that we buy due to price, placement, promotion and the nature of the product. But he HAS earned my loyalty. There are still a lot of products out there that we buy due to price, placement, promotion and the nature of the product. That’s how I make my decision. Another thing. Google+ hang out?
Fluency of Culture, Not Language, Is Key to Winning Big in Global Online Markets
SEPTEMBER 1, 2016
Social can help businesses quickly establish and maintain brand awareness and loyalty. The CRO campaign provided shoppers with a selection of smartphones arranged by price, by default. Guest post by Charles Whiteman. The smartest companies are always looking to reach untapped markets. These days, most are finding success by engaging new global consumers through digital channels.
When to treat a customer like family
grow - Practical Marketing Solutions
JULY 14, 2016
We had quality issues, production issues, and pricing issues that made us difficult to work with. ’ ” Now THAT is customer loyalty. When I was just starting out in business, I spent a good part of my career in enterprise sales. learned a lesson there that stuck with me throughout my whole career and I want to share it with you today. And yet, this company stuck with us.
Seven Ways to Humanize B2B Marketing
OCTOBER 27, 2015
However, our research also shows that ‘personal value’ is twice as powerful as business value in achieving a broad range of commercial objectives (including awareness, consideration, purchase intent, willingness to pay a premium, loyalty, willingness to recommend).” Like customer loyalty, it can’t be bought—it has to be earned. Here are seven ideas.
How to Conquer 5 Common B2B Marketing Problems with Content
SEPTEMBER 1, 2015
Add in a recipe that ensures addiction and competitive pricing, and the cookies are on their way to success. The high price tag means she needs to get the chief financial officer (CFO) and chief executive officer (CEO) involved. First, you have a typically high price point, perhaps even climbing to six or seven figures. The cookies taste good. It’s simple. Enjoy them.
10 Digital Marketing Trends That Should Influence Your 2016 Content Strategy
MARCH 17, 2016
Goodbye Price-Led Marketing. Once you have their trust and loyalty, then you can start thinking about ways to sell your products or services. 5. I wrote a post six months ago highlighting ten marketing trends that should influence your content strategy. Data Management. Source ). Just 27 percent of “Market Followers” said the same. Digital is Where the Money Is. Source ). Source ).
Customer Experience Simplified
It's All About Revenue
OCTOBER 17, 2016
97% of global consumers cite customer service as important in their brand choice and loyalty. Before you answer, download Customer Experience Simplified: Deliver the Experience Your Customers Want and discover discover how to provide customer experiences that are managed as carefully as the product, the price, and the promotion of the marketing mix. overcomplicating everything.
Using Big Data To Target The Right Consumers With The Right Offers
Buzz Marketing for Technology
OCTOBER 10, 2013
The more forward-thinking online marketers recognize that “personalizing” each customer’s experience on their site can make a dramatic difference in ultimate sales, customer loyalty and long-term profitability of the business. Love Your Loyalty Programs. For most marketers, loyalty programs provide a wealth of personalized data on your most desirable customers. Initiatives like offers, promotions, calls to action, special prices—whether on your website, mobile site or app—can all be preselected or promoted based on each visitor’s unique profile. Sync Your Channels.
Misinterpreting Customer Data: Good Data Can’t Save Bad Marketing
NOVEMBER 13, 2014
What’s more, the position taken by the HBR article doesn’t fully articulate the whole situation, as Chuck Chapek , Principal of JAC CRM Consulting notes: Data-driven marketing cannot be successful in a silo. It must be part of an eco-system that delivers the right product at the right price at the right time. To be blunt, this idea is just wrong. annually. could not. in-store, web and etc.)
Consumers Go Mobile for the Holidays
NOVEMBER 12, 2014
This info correlates well with the loyalty account data (below). Research/compare brand prices – 47% of men; 41% of women. Access loyalty account – 14% of men, 30% of women- I don’t know whether this suggests that we men are merely lazy, or that women tend to be more loyal than men, at least when it comes to brands. Let’s dig in…. But are they going mobile? Perhaps both.