In fact, market research by Bain & Company shows a five percent increase in customer retention can lead to an increase in profits between 25 and 95 percent. If so, you need to focus on building long-lasting relationships with them. There are many ways to do this, but we will focus on the most effective ones that yield high returns. Prospecting is a lot like hitting the gym—it’s only effective if you do it consistently and in the right way. It’s easy to let prospecting efforts take a back seat when the pipeline is flush, but doing so runs the risk of creating dips later down the road.
Building customer relationships is key to reducing churn in any B2B space. When you havestrong relationshipswith your customers, you can generate more referrals. Potential clients are more likely to do business with a company if it’s recommended by a friend. Ease-of-use is one of the most important aspects of a product or a technical solution.
The better you know your target, the faster you can convert them into leads who eventually buy from you. Your business reaches a greater number of leads, and your employees earn thought-leadership credibility within their industry. Employee advocacy also humanizes your brand, which is a welcome distinction in B2B industries.
Micro-influencers are ideal because their audiences are more authentic. Celebrity influencers don’t yield the same results because many view them as living paid ads instead of people with genuine recommendations. These can be collected on your Google My Business page, which will be visible to others who search for your brand or product.
There’s one thing that you simply can’t teach when it comes to sales prospecting. If it’s a tool, it should exceed your prospects’ expectations. If it’s information like an ebook, webinar, or video, make sure your prospects can’t find similar information elsewhere online. It allows a potential lead to ask questions and get replies without having to dig any deeper or visit your competitors’ websites for further research. PPC has been a lead-generation staple for well over a decade.
But knowing which keywords your competition is targeting also reveals the ones they aren’t. Sometimes, there’s a good reason for that, like if the keyword isn’t relevant. It takes a little legwork to figure out if it’s worth creating content or spending 648 credit score credit card money on PPC ads to fill those gaps, but the payoff can be significant. When you join industry groups and forums on LinkedIn, Facebook, Reddit, Quora, and industry publications, you’re able to observe conversations taking place in your field.
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