6 Steps for a Successful B2B Cross-Sell and Upsell Strategy

Marketo

To thrive and succeed in today’s competitive environment, you need to incorporate cross-sell and upsell into your marketing strategy to reap the full benefits of your hard-won customers.

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. Percentage of cross-sell or upsell success?

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. Spiceworks recently surveyed about 200 B2B marketers to determine what is most important to them in terms of key objectives.

Forrester Acquisition ‘The Sirius Way’

Valasys

This acquisition will give way to expansion opportunities across regions and industries. Even though only 278 accounts are overlapping between them, they reckon that they will be able to cross-sell various services to their clients.

How To Execute A World-Class Expansion Strategy with ABM

Engagio

Then it hit him – sell a larger bag at a discounted price. The add-on of fries has become the prime example when it comes to cross-sell strategies. Upsell and Cross-Sell in B2B Markets. This looks much different if you’re selling to other business.

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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.

The Cost of Customer Acquisition vs. Customer Retention

Kapost

Customer Acquisition Is Costly. It initially makes sense that we spend more time and money on acquisition as opposed to retention. Here’s a breakdown of common customer acquisition cost centers: Outbound, or traditional, marketing (including advertisement, direct mail, cold calling, etc.). To keep acquisition numbers growing, these programs, and their budget, must keep running.

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. 6) Upselling and Cross-Selling Readiness.

How to Measure M&A Success

Hinge Marketing

Once a merger or acquisition deal is signed and moving forward, how do you measure success? If the deal is a simple acquisition of a smaller firm that does essentially the same thing as the larger firm (for instance, a regional law firm that buys a small practice in another town), the culture shift may be fairly small and the friction minimal. Next, let’s discuss what metrics you might monitor to determine how your merger or acquisition is performing.

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.

The Good, The Bad and The Ugly of eCommerce

Modern Marketing

The Bad : More than 40% of retailers said that their marketing cost per order increased in the past year, while another 46% said their new customer acquisition costs increased. Use Commerce Data to Inform Top-of-Funnel Acquisition. Improve Conversions with Cross-Channel Retargeting.

How, And Why, You Should Calculate Customer Lifetime Value (CLV)

Act-On

CLV is even more useful when you can compare it to your cost of customer acquisition cost (CAC) to get your compass quotient (CQ) – we’ll save these topics for another blog post, so don’t panic! The true value of a customer is not just the size of the deal.

How, And Why, You Should Calculate Customer Lifetime Value (CLV)

Act-On

CLV is even more useful when you can compare it to your cost of customer acquisition cost (CAC) to get your compass quotient (CQ) – we’ll save these topics for another blog post, so don’t panic! The true value of a customer is not just the size of the deal.

Five Ways Marketing Can Drive Higher Online Commerce Revenue

Modern Marketing

Improve Conversions with Cross-Channel Retargeting. Create Brand Advocates and Long-Term Customer Relationships to Drive Retention and Cross-Sell Opportunities. Cross Channel Marketing Marketing Cloud

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3 Ways Customer Engagement Can Be a Boon to Your Business

Marketo

The probability of selling to a new prospect is 5–20%—compared with 60–70% for an existing customer. So, if you continue dedicating too much time to customer acquisition, you risk leaving opportunity (and money) on the table. Cross-selling and upselling your customers.

Rethinking the Role of Marketing in B2B Customer Engagement

Act-On

Customer engagement is a cycle that starts the instant a prospect first finds out about your brand and continues on through the acquisition, conversion, retention, and expansion stages of the customer lifecycle. Marketers indicated they were responsible for awareness, acquisition, and supporting sales. Capture: Top-of-funnel inquiries, driving interest, qualifying opportunities, acquisition of leads – Owned by marketing.

Marketing in the Age of the Connected Customer Experience - 3 Questions Marketers Must Answer

Modern Marketing

Oracle is leading the way to solving these issues through its acquisitions and integrations of DataLogix, BlueKai, and Moat. Does their product roadmap continue to invest in cross-channel orchestration as a key capability? Every vendor claims to provide a data-driven marketing solution.

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LiveRamp Acquires Faktor

LiveRamp

That’s why today I am proud to formally announce LiveRamp’s acquisition of Faktor, a consent management platform (CMP) that enables us to expand our suite of privacy offerings, and reinforce our commitment to data stewardship in Europe, North America, and across the globe. Through the acquisition of Faktor, we will be able to offer a product benefiting not only consumers, but also publishers and brands.

Customer Lifecycle Metrics, Part 5: Retention and Expansion

Act-On

In a recent report from Gleanster and Act-On, Rethinking the Role of Marketing , the survey results showed that that the best performing marketing teams are the ones that take full control of the customer lifecycle – going beyond awareness and acquisition to extend their focus to conversion, retention, and expansion. According to the survey report, the the top two management objectives for average performers were acquisition revenue (82%) and lead generation (also 82%).

5 Types of Emails That Improve Customer Retention

Sharpspring

There’s no way to succeed in business today without focusing on new customer acquisition. A strong customer retention strategy gives you more opportunities to cross-sell and upsell other products.

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3 Demand Generation Trends to Watch in 2019

ANNUITAS

Earlier in the year, Deloitte found that more than a third of corporations with revenue over $1 billion intended to pick up the pace on acquisitions. For many organizations, that meant increased opportunities for cross-selling — an easier target than going after new deals with 60-70% success versus 20% for prospects ( Marketingland ). For companies looking to be acquired, the additional revenue from selling to existing customers could make or break the deal.

How Marketers Should Think About Customer Marketing in the Engagement Economy

Marketo

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. Cross-Sell Takes On More Importance.

The Best Swag for Each Account Segment, and Other Direct Mail Plays

Triblio

The approach to new logo acquisition and cross-sell / upsell should also differ, as key stakeholders need different types of information and content at each stage of the purchase journey. . It’s a great door opener to an upsell/cross-sell conversation.

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Observations on the State of Content Marketing

ANNUITAS

Upsell/Cross-Sell: 65%. And Demand Generation is not just about the acquisition of new customers. I spent this morning reviewing the B2B Enterprise Content Marketing report published by Content Marketing Institute.

Using the AARRR ‘Pirate Metrics’ Method to Build Your Growth team

TrustRadius Marketing

An acronym for Acquisition, Activation, Retention, Revenue, Referral, this methodology allows you to analyze and optimize every step of your customer funnel. The 5 stages are: Acquisition, Activation, Retention, Revenue, Referral. Let’s look at each of these in detail: Acquisition.

What Is Customer Marketing?

Act-On

Your best salespeople aren’t on your payroll,” said Jill Rowley, speaker, startup advisor and social selling evangelist on the Rethink Podcast. At Act-On, we see this falling in the Expand (retention) phase of marketing joining Brand (awareness) and Demand (acquisition). By leveraging your marketing automation, CRM and ERP data, you can also better understand when a customer is ready for an upsell or cross-sell.

How to Unlock the Full Potential of Your Customer Base

Marketo

Add this to the fact that it costs at least 10 times more to acquire new customers than to sell to the ones you already have, according to eMarketer, and you’ve got a strong business case to invest in your customer base. Upsell is defined as selling more of the same product or an upgrade.

How to Pair AI with Inside Sales to Grow Your Business

Marketo

Using your ICP, AI can quickly cull through massive data files and contact records to identify those accounts among your prospects that are most likely to need what you sell.

Building the One Big Button (Using LTV to Find Business Opportunities) – Part 2

Customer Experience Matrix

Yesterday’s post described key leverage points within the three major Lifetime Value components of original, renewal and cross sell orders. for original orders, the key leverage point is acquisition cost, and in particular, acquisition cost by source. The specific measure to use is the ratio of LTV to acquisition cost, which is essentially acquisition return on investment. We still need to translate the expected change in acquisition volume to total LTV.

New Report Confirms Immaturity of Most Marketing Automation Deployments

The Point

Newer users focus marketing automation on driving customer acquisition, whereas more mature users leverage the technology’s ability to impact on lead nurturing and customer marketing (e.g. cross-sell and up-sell).

Are Your Content Marketing Metrics Telling You the Whole Story?

DivvyHQ

As David Ogilvy once put it, “If it doesn’t sell, it isn’t creative.”. Average lifetime value per customer: As you increase your trust factor through content that delivers value to your customers, your chances to upsell or cross-sell increase, raising your customers’ average lifetime value.

How AI Can Rank up Your B2B Sales and Marketing

Unbound B2B

Cross-Selling and Upselling. Cross-selling and upselling are the fastest and most economical methods to grow top-line revenue. Lead Generation and Customer Acquisition. Introduction.

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. This calculation would include all back-end values (renewal plus cross sell), since changing the length of the customer lifetime would also change how long the customer is available for cross sales. To ensure cross sell values are considered, the LTV calculation for this ranking includes them along with renewal values. -

How AI is Changing the Sales Process

InsightSquared

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.

47% Leads Nurtured In CRM Will Convert. Adopt CRM Today!

Valasys

Since Internet of Things is considered the future of data acquisition, CRM giants like Dynamics365 and Salesforce have been investing in this technology and even integrating it into their various systems in order to maximize the customer experience.

How to Identify and Remove Bottlenecks in Your Marketing Funnel

The Lead Agency

When it comes to B2B selling, the purchasing process can be both long and complex. Often, it’s cheaper and easier to sell to an existing customer than a new lead. This can, in turn, help your business upsell, cross-sell and gain a greater number of referrals from satisfied customers.

Building the One Big Button (Using LTV to Find Business Opportunities) – Part 4

Customer Experience Matrix

So far the posts in this series have described how to identify and rank opportunities for business improvements in acquisition, renewal and cross sell orders. That’s easy enough for acquisition and cross sell orders, since both are being ranked by return on (marketing) investment. I suppose we could translate the acquisition and cross sell opportunities into change in LTV per customer and then rank all three on that.