B2B marketers commonly accept that it costs much more to acquire a new customer than it does to keep an existing one. In some cases, it can cost five to ten times more to generate new demand or acquire qualified prospects. But do your marketing spending and tactics reflect this overlooked opportunity? Do your marketing programs specifically target your installed base of customers in an effort to build your brand, engender loyalty, and uncover upsell or cross-sell opportunities?
Forrester recently set out to research B2B marketers' behavior and attitudes around marketing to their existing customers. We believe that top marketers will lean on Web 2.0/social media tactics (like blogs, online video, podcasts, and online communities) to build enriched and sticky relationships with existing customers.
Our recent survey of 189 B2B marketing professionals helps to show that marketers who focus online and Web 2.0 media activity on their installed base not only uncover hidden cross-sell and upsell opportunities, but also build engaged communities that turn loyal customers into advocates.
Researcher- Laura Ramos: Vice President, Principal Analyst Forrester Research, Inc. http://www.forrester.com/Teleconference/Overview/1,5158,2269,00.html