Are you generating leads, nurturing them, converting them into sales but struggling to retain your customers? Customers once lost would be hard to locate and revive. However, thanks to the many strategies that can help you improve your customer retention rates. One of them is B2B account-based marketing. A proven and effective technique, it can help you retain your customers more efficiently than ever. Here is more to how it works.
What is B2B Account-Based Marketing?
Account-based marketing is a highly targeted marketing strategy, focusing on select accounts or customers instead of targeting a wider audience. Accordingly, the approach involves crafting custom marketing campaigns and ensuring personalized experiences for individual customers. The purpose is to engage with clients meaningfully, generate revenue, and retain them.
Some benefits of account-based marketing include specific and enhanced targeting, increased personalization, better marketing efficiency, more fruitful collaboration, and greater revenue prospects. However, another significant advantage of this marketing strategy is customer retention. As that is precisely the focus of this blog, let us see how the right B2B account-based marketing strategy can help you hold on to your customers.
How B2B Account-Based Marketing Can Help You Retain More Customers?
Customer retention can be challenging but it isn’t rocket science. Making consistent efforts can make all the difference. Client retention focuses more on staying connected with your customers and keeping them active through continuous marketing – of course without turning salesy! Account-based marketing can help you do it in the following ways.
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Gaining a Comprehensive Understanding of the Existing Accounts
As stated earlier, account-based marketing focuses on specific high-value accounts. Accordingly, one of the first steps is to segment your customer depending on their industry, revenue, or company size. It will help you tailor your strategy and approach to suit the client. Additionally, you must develop detailed profiles for key stakeholders within every account. Furthermore, understanding their needs, challenges, and objectives enables you to devise a more precise retention strategy, ensuring more productive outcomes.
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Personalizing Engagement
Often referred to as spearfishing, account-based marketing emphasizes personalizing the engagement. Accordingly, you must develop content resonating with the client’s needs and interests through personalized email campaigns, targeted landing pages, or custom webinars. As nurturing relationships is integral to account-based marketing, assigning a dedicated account manager can help you further personalize your strategy’s approach.
Must Read Full Blog – B2B Customer Journey Orchestration and Touch Points
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Nurturing Relationships
Relationships are part of every business strategy with account-based marketing being no exception. Thus, scheduling regular meetings with the clients to discuss the account’s challenges, evolving needs, and crafting custom solutions become part of your account-based marketing strategy. For example, a SaaS provider can meet the client periodically to gather feedback about the current services, learn about their new subscription needs, understand preferences, and know about new objectives, if any, to fine-tune the product.
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Ensuring Continuous Optimization
With time, the client’s needs might evolve. So, what was provided initially might not necessarily work now. The client may or may not communicate it with you. However, rather than relying on the client, you must stay attentive to their needs, and experiences and identify areas of improvement to enhance your offerings. The key is to refine the strategy regularly so that the offerings remain relevant and the clients continue receiving the value they expect. These factors will give them a reason to stay with you and continue availing your products, services, or solutions.
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Using Analytics
Modern-day marketing allows you to track your engagement and measure results. Unlike traditional marketing which offers little scope, account-based marketing when complemented with advanced analytical technology can help quantify your performance and determine whether you have been meeting the client’s expectations. Additionally, you can use predictive analytics to decipher the future needs of the client and prepare for them. Remember, all these efforts and initiatives will encourage clients to be loyal and use your offerings.
Final Words
Essentially, B2B account-based marketing, particularly concerning client retention, works towards understanding and catering to the client’s needs and ensuring continuous alignments and improvements.
The above is a straightforward explanation of how B2B account-based marketing works while retaining clients. However, implementing it would require partnering with an expert to help you optimize the overall impact.
DemandFluence serves as one. With years of experience and a proven history of successfully driving customer retention through account-based marketing, we step in as a standout partner. Please email us at hi@demandfluence.com to explore more about B2B account-based marketing support and expertise.
