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How to Effectively Scale Your B2B Business: Five Points to Cover

Webbiquity

Upsell and Cross-Sell. Existing clients provide a readily available market you can further capitalize on through upselling and cross-selling. One of the best-selling points you can offer a business is a (credible) promise to streamline its operations.

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Managing B2B Customer Life Cycle Stages: From Acquisition to Expansion

Heinz Marketing

Gone are the days when B2B buyers used a linear approach to sell and market products. In fact, customer retention is 5-25 times cheaper than customer acquisition. Acquisition. Growth – The business impact is being achieved repeatedly through cross-sell and upsell.

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Lessons from Financial Services: Cross-Sell to Your Customers Without Pushing Them Away

Marketo

” While a healthy customer base indicates that there is a clear need for your product or service, failing to build on your knowledge of these existing customers and capitalize on cross-sell opportunities can stunt your revenue growth. Successful brands look past acquisition and focus on increasing the customer lifetime value (CLV) by retaining their customers and continuing to sell to them. When it comes to cross-selling competencies, bigger is not better.

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Customer Success—and PLG—as a Profit Center

Heinz Marketing

While the idea of customer success as a profit center is not new, it is regaining momentum and overtaking new logo acquisition as the main strategy for B2B revenue growth. Takeaway #3— Lower churn and higher upsell leads to greater customer lifetime value without additional acquisition costs.

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The Cost of Customer Acquisition vs. Customer Retention

Kapost

Whether you’re a startup gearing to accelerate growth or a mature corporation looking to gain market share, one stat still matters… It costs 7x more to obtain a new customer than to keep an existing one. Why the crazy difference between these costs? Customer Acquisition Is Costly. It initially makes sense that we spend more time and money on acquisition as opposed to retention. Computing CAC: Cost To Acquire a Customer.

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57% of B2B Marketers Name New Account Acquisition as Top Objective

KoMarketing Associates

The majority (57 percent) claimed that their top goal this year is to influence revenue through new account acquisition. This is followed by increasing brand awareness (52 percent), influencing revenue by cross-selling/upselling existing accounts (39 percent) and aligning sales and marketing efforts (30 percent). Only 57 percent track total deals closed/won, and just 46 percent look at cost per conversion.

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Mergers and Acquisitions as Part of Your Growth Strategy

Hinge Marketing

Mergers and acquisitions have become a popular business strategy for companies looking to expand into new markets or territories, gain a competitive edge, or acquire new technologies and skill sets. There are essentially two kinds of mergers and acquisitions: strategic and financial. A financial merger or acquisition is pursued, as the name implies, for financial reasons—often to pick up some quick cash or as an investment. The acquisition seems very strategic.

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How to Use Predictive Analytics for Better Marketing Performance

Single Grain

Upselling and Cross-Selling Readiness. CAC or Customer Acquisition Cost. This helps to inform the next step in marketing or selling to a prospective lead based on predictions about their future buying habits. These estimates can help you to set budgets for customer acquisition, giving you a more accurate and expected ROI. 6) Upselling and Cross-Selling Readiness. What’s the percentage of the CAC that pertains to marketing cost?

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9 Mission-Critical Lead Generation Metrics You Need To Track

Single Grain

Because of these differences, the approach to lead generation and customer acquisition will also differ. For instance, a B2C company might prefer to use social media to capture leads for its new course in a cost-effective way, whereas a B2B company with a bigger budget would be happy to shell out on a targeted PPC (pay-per-click) ad campaign. 2) Product Type, Category and Cost. To keep things simple, start by measuring the total cost of capturing a lead. COST METRICS.

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Marketing to Prospects vs. Customers: Why Your Messaging Should Be Different

Content4Demand

To illustrate the importance of customer context, Riesterer walked through two frameworks, one that guides acquisition messaging and one that guides retention messaging. For acquisition purposes, marketers should use the “Why Change” model. Cost of change , which includes hard costs (money) and soft costs (time and effort). . . Highlight the cost of staying with the same vendor. . .

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7 Advanced Metrics to Measure the Success of ABM

Marketing Insider Group

There are two types of ABM metric groups: Acquisition and Expansion. Acquisition refers to the number of new leads and conversions achieved by targeting prospects and accounts, while Expansion measures the number of repeat customers and the growth in customer lifetime values (CLV).

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CRM Vs Email Marketing: Which Is More Suitable For My Business?

SendX

81% of small businesses depend on email marketing as their main customer acquisition channel. while an email marketing tool is focused on automated marketing and helps you reach customers cost-effectively. This strategy might be to cross-sell them.

CRM 195
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Pick The Right Plays: Using the Go-To-Market Framework

Zoominfo

Doing so may also offset declines in aging products a company sells. Go-to-market plays : Add-on campaigns, cross-sell campaigns, in-app message campaigns, user research, and product launches.

Zoominfo 219
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How the subscription economy is transforming the B2B revenue model

Ledger Bennett

It tends to attract more customers – in most cases subscription payments lower the barrier to entry because cost is no longer prohibitive, allowing more customers to purchase. What is a subscription model?

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5 Lessons B2B Marketers Can Learn From Costco

Heinz Marketing

If you are selling a product or a service, make sure it is user-friendly. If you focus as much energy on customer retention, as you do on customer acquisition, there is no doubt you will have a happy customer in the end. Cross-sell and Up-sell.

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Tips for Increasing Customer Retention via Email Marketing

SendX

It can cost nearly 16 times more to acquire a new customer than to retain an existing one. Emails are used by marketers for their customer acquisition, traditionally. It is a great soft selling technique. Customers can get many products via upselling cross-selling.

Email 195
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B2B CMOs: Shift Your Priorities Beyond Leads

Biznology

It’s no wonder CMOs focus an estimated 85% of their efforts on acquisition. Communications focused on existing-product upsell and cross-sell opportunities. It seems like every week I see a new research report naming leads as the top priority of B2B marketing departments.

Leads 149
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Top Sales KPIs for Your B2B Sales Reps

Zoominfo

Unclear sales goals are costly. Closing the largest deals sometimes isn’t enough; consider costs that influence prospecting and retention. Average cost or price per unit measures the marketing costs your company spent on a single purchase of your product or service.

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The Bow Tie Funnel

Heinz Marketing

This is because we know that cost of acquisition for a new customer is much higher than their retention cost. According to Freshworks.com customer retention is 5-25 times cheaper than customer acquisition.

Funnel 95
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The 7 Most Useful Sales Funnel Metrics

Outreach

Metric Three: Acquisition Costs. Nearly all of the sales funnel metrics that you track should be focused on increasing revenue, and this includes analyzing and controlling costs. Do you know your lead acquisition and customer acquisition costs?

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The 9 Most Important Types of Sales Objectives [+Examples]

Hubspot

They provide a direction for the sale department to reach goals like closing more deals, increasing revenue, retaining customers, and cross-selling. Customer acquisition costs. Cross-sell and upsell. Reduce customer acquisition costs by 15% this month.

Hubspot 63
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Account-Based Customer Marketing – How to Stop the Sales Drop with Stronger Existing Customer Growth

Marketing Insider Group

They are also looking for ways to drive growth with existing accounts to make up for slow new business acquisition. This is a huge savings in cost of sales and marketing investment in return for greater profitability and revenue growth.

Customer 240
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25 SaaS KPIs To Start Checking For Optimized Business Performance

accelerate agency

It can also be used to track up and cross-selling, new sales, and contract renewals. Many SaaS companies choose a self-service model to lower CAC (Customer Acquisition Costs). CAC (Customer Acquisition Costs).

Agency 52
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How AI is Changing the Sales Process

InsightSquared

With the potential to maximize sales leads, reduce costs, increase sales, and optimize return on investment, AI is soon to become a sales rep’s best friend. Here are three of the top ways AI is impacting today’s sales process: Increases Time Spent Selling. Today’s sales reps are facing a major problem: they can’t find enough time in their day to actually sell. In 2019, artificial intelligence (AI) is prevalent in our everyday lives.

Process 192
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How to Identify the Most Impactful SaaS Marketing Metrics to Take to the Board

SmartBug Media

Pipeline and Acquisition Metrics. For most SaaS companies, revenue is heavily dependent not just on new customers but also on cross-selling and upselling to the existing customer base. Cost per Lead. Cost of Customer Acquisition.

Media 64
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20% More Clients — With Quick Start Chat Buttons

RockContent

Cost reduction. Plus, the programs reduce the cost of customer acquisition. They can independently segment the target audience, generate personalized offers, support cross-selling, and make promotional mailings.

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How Customer Lifecycle Management can increase your company’s engagement

RockContent

Such stages are brand awareness, acquisition, conversion, retention, and loyalty. Acquisition. The acquisition is how we refer to the point of the process where your customer decides to give you contact information , such as an email address or a telephone number.

Companies 152
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10 Customer Success Metrics to Keep Your Team Motivated and Customers Loyal

Sharpspring

Aim to keep every customer coming back, and you can often reduce your top-of-funnel advertising costs. Customer Acquisition Cost (CAC). Your Customer Acquisition Cost (CAC) is just what it sounds like. How do you measure your business’s success?

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How Adobe uses AI internally to drive growth

ClickZ

The hypothesis is that if Adobe stops all their marketing efforts, they would still sell products. Cross-selling/Up-selling. For customer acquisition, Adobe is asking: Who has the propensity to buy from us?

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5+ Email Sequence Examples, Benefits, Types & Tips on How to Create Them?

SendX

Suppose you run a website selling hats. Improved Sales With upsell/cross-sell sales emails, you can give your customers an amazing opportunity to buy additional items that complement their initial order.Although they promote a purchase, these emails don’t have to scream “buy me now!”

Examples 265
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Measure and Keep: 7 Key Customer Retention Metrics to Watch

Oktopost

An important consideration for any B2B marketer is their Customer Acquisition Cost. It turns out that the cost of keeping a customer is up to five times less expensive than the cost of going out and getting a new one.

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5 Ways to Justify Intent Data To Your Boss

TrueInfluence

A shorter sales cycle reduces the cost of acquisition to a great extent. Identify cross-sell opportunities and reduce customer churn. Intent data gives you the power to identify cross-sell opportunities and uncover churn indicators by monitoring online behaviors.

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SaaS Customer Lifetime Value – 8 Strategies for Amplifying Yours

accelerate agency

Their ‘churn’ rate is higher than their ‘acquisition’ rate, and their customer lifetime value (CLV) – or predicted net profit attributable to a long-term relationship with a customer – is low. . It provides insights on customer acquisition spending.

Agency 52
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How Marketers Should Think About Customer Marketing in the Engagement Economy

Marketo

This is because the Engagement Economy is rife with business models where the cost for the customer to switch is low. This starts with acquisition—the kind of outreach that you and a majority of marketers are probably already comfortable with—but from there encompasses adoption, cross-sell, and advocacy. And it costs far less to keep existing customers than it does to acquire new ones. Cross-Sell Takes On More Importance.

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Customer Marketing: The True B2B Game Changer

Oktopost

They know how to sell their product to prospects and secure their business. Harness opportunities to cross-sell. Quick math will tell you that customer marketing is a big deal: it can cost five times more to acquire a new customer than keep an existing one.

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What Is a Marketing Strategy?

Marketing Insider Group

How you will measure success and how much it costs (budget). My college professors taught me all about “the 4 Ps” of marketing—product (what you sell), price (how much is it), place (where do you sell it), and promotion (discounts and other offers).

Strategy 265
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The 2022 Marketer’s Guide to Customer Lifecycle

Televerde

About 82% of businesses say that retaining loyal customers is more cost-efficient than acquiring new customers. Stage 2: Acquisition. The acquisition stage begins when a consumer turns into a lead. This also increases your opportunities for upselling or cross-selling products.

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What Metrics are important to your SaaS website performance

accelerate agency

CPA (Cost per Acquisition). The only way to ensure your marketing budget makes sense is by knowing the cost per acquisition of campaigns. This number is the average spend per customer, and isn’t fully realised as there are still lots of hidden costs.

Agency 52
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Building the One Big Button (Using LTV to Find Business Opportunities) – Part 3

Customer Experience Matrix

Yesterday described the calculations for acquisition orders. Today will finish up with renewal and cross sell orders. for renewal orders, the key variable is renewal margin (which I am defining as renewal marketing and product cost divided by renewal revenue). This implies taking the current margin as the base and assuming any increase or decrease has diminishing returns—say, that each dollar change in product and service costs yields a fifty cent change in revenues.

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Focusing on Product-Led Growth? Track the Right Metrics

Heinz Marketing

If you’re unfamiliar with the AARRR framework, it stands for: Acquisition. Acquisition Metrics. SaaS companies ushered in a shift in how we define acquisition. Previously, acquisition required a user to pay.

Product 75