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?

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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. 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.

Top 5 Measures of M&A Success [Video]

Hinge Marketing

For this discussion, we’re going to assume that your firm is somehow involved in a merger or acquisition. Next, let’s think about the cross-selling of services. This is often a starting place for strategic mergers and acquisitions.

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.

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.

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.

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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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.

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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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%).

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.

Fuel the Top of the Funnel with SharpSpring’s New Digital Advertising Platform, Perfect Audience

Sharpspring

Bring in more revenue by upselling/cross-selling to current customers. Upsell and Cross-sell to Current Customers. For more information about SharpSpring’s acquisition of Perfect Audience, make sure to check out our press release.

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!”

What is an Email Sequence?

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!”

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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.

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.

Email 98

What is an Email Sequence?

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!”

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Why You Need to Bolster Your Business Acumen

Measure Up Marketing

While the CMO is responsible for new customer acquisition and cross-selling and upselling, the connections and conversations were primarily with marketers and salespeople in the field who support the business units and regions.

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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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.

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.

5 Lead Management Best Practices That Build Account-Based Marketing Success

Modern Marketing

Company data including location, industry, and revenue, plus online signals such as new acquisitions, hires and funding rounds can help you select accounts that are most likely to buy—even when it may not seem obvious to your sales operations or demand generation team.

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.

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.

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).

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.

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. -

Vendemore Moves B2B Display Ad Targeting Towards the Bottom of the Funnel

Customer Experience Matrix

He said the other most common applications are to encourage cross selling within existing client accounts and to reach potential users at firms that have authorized corporate purchases of a product but left the actual buying decisions to individual divisions or departments.

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.