As a B2B platform, I’m pretty sure that you are working on your lead generation campaign as well as a high-quality customer support network. However, one thing that many ventures fail to focus on is establishing an effective B2B loyalty marketing strategy to increase the rate of retention.
B2B marketing can get tricky due to the fact that competition is rising significantly. Apart from that, when it comes to B2B conversions, the sales cycle tends to be pretty long. Therefore, more investment is required to generate leads and further nurture them. However, customer retention is a cost-efficient way to boost your sales and reduce your marketing expense. Therefore, in order to comfortably retain your clients, you have to work on the following loyalty marketing strategies of your B2B platform.
1. MENTION LOYAL CUSTOMERS IN YOUR CONTENT
Almost all B2B companies rely on their content marketing strategies for brand awareness and lead generation. Therefore, if you have a list of loyal customers, you can payback a favor by merely mentioning their brand on your content. This move will not only make your client happy, but it will also encourage other potential prospects to trust your products and services. In addition, if your client turns out to be a leading influencer in the market, that’ll put you in a win-win position.
2. SURPRISE YOUR CLIENTS WITH CORPORATE GIFTS
Corporate gifts are a traditional technique of showing love to your B2B clients. However, instead of following this habit just for the sake of a holiday, you can become creative and look for other occasions. Surprise your B2B customer by sending them a birthday gift or an anniversary present to enlighten their mood and develop a better relationship.
3. PERSONALIZATION IS STILL A GREAT MARKETING TECHNIQUE
It has been projected that by 2020, 51% of consumers will expect the seller to offer personalized suggestions to them. This clearly indicates that the importance of personalization is enhancing. A simple greeting whenever a prospect enters your site can be a beneficial gesture.
Apart from that, once you a user subscribes for your email update by providing their data, you should remember to send them personalized emails. For starters, by merely writing “Hi Jack,” you can convince them not only to read your message but also act on it. Later on, you can even send them emails that feature products related to their specific market niche. This strategy will boost your email deliverability rate and engagement.
4. OFFER SPECIAL DISCOUNTS TO OLD CUSTOMERS
Who doesn’t love a discount? I’m pretty sure we all do! Well, businesses also love to buy during specials sales and offers. Though you won’t see many B2B companies introducing discounts for their prospects, you can change that by contacting all the businesses that have bought from you in the past and offer them a special price. This tactic will immediately bring back many dead leads to life and increase your sales.
Though offering discounts will reduce your revenue, it’s a cheaper technique than running a whole new paid marketing campaign on social media or billboards.
5. INTRODUCE A REFERRAL PROGRAM
With the affiliate marketing industry rapidly increasing, almost all business owners are coming up with a referral program for their brand. You can place a discount or offer free products to those customers that refer new clients to you.
This strategy will encourage people to spend money on promoting their brand and products. In return, all you have to do is give them a commission or a percentage off from their next order. This is a low-cost marketing technique to boost your sales in no time.
B2B platforms have to deal with smarter clients then that is why they have to make sure the right strategies are used. One of the most profitable ways of increasing sales is by simply sharing an amount from your revenue. The B2B loyalty marketing strategies mentioned above are useful in many ways. You can easily grow your enterprise and develop long-term relationships with your potential clients. In addition, you can also enhance your rate of customer retentions and reduce your cost of sales significantly.