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fresh experiences on marketing topics for the B2B enterprises and more

Keep your customers (happy) during recession

Recession has come as a strong incentive for companies to  understand more than ever the importance of customer loyalty and word-of-mouth, and to create strategies to ensure they come out of this downturn with good results, profit even.

Especially in B2B, there are three main tools that you can use to make sure tyour companu survuves the crises, and maybe even thrive afterwards:

  • Retention. Attracting a new client costs much more than keeping the ones you already have happy. Furthermore, an old customer can bring new clients using word of mouth. Financially speaking, retention can lead to big returns. FedEx, for example, gained $100 million in revenues after a 1 percent improvement in customer retention.
  • Repurchase. This is a strategic and profitable tool to keep your revenue base, and even increase it. The best way you can encourage repurchase is by providing your clients with a positive customer experience. Purchase habits will increase, thus leading to an increase in sales.
  • Referral. Today, you can even measure the correlation between word-of-mouth referrals and financial outcomes through special programs or surveys. The financial benefits associated with word-of-mouth referrals can be impressive. The only “dark” side to this is that negative word of mouth can lead to significant losses in popularity and, implicitly, in sales.

More specifically, here are a few tips to help you set up a good retention program:

  • Have one-on-one meetings with clients, just to discover their needs and worries
  • Make the executive team’s contact information available to all clients
  • Include thoughtful gestures into all client-oriented activities, especially in face-to-face interaction

From a recession point of view, opportunities now arise to do all those small tasnks that you’ve been postponing because of lack of time. And customer loyalization is probably the most important task you have to complete these days, to make sure you overcome the downturn successfully.

Filed under: b2b marketing, b2b sales, Best Practices, Business-to-Business, Marketing Results, Marketing Tactics, Relationship Marketing, Strategy

Social networks, “the new pink” in crisis communication

Are you having a hard time keeping up the newly emerged technologies when you need to manage instant Web updates? Or when you have to efficiently distribute tones of e-mails to clients or stakeholders and communicate through text messages to critical audiences? With the constant evolution of social media it has become obvious that this is a new must have for every company, as social media tools facilitate the dissemination of information in multiple modes, in real time.

Crisis communicators and PR professionals are starting to incorporate social media into their plans. When you plan for things that might go wrong, you also need a plan for the role that social media will play and how its involvement will impact your reputation.

Here are a few guidelines you should follow if you decide to start using social media in crisis situations:

1. Act quickly. Online information spreads instantly, therefore it is highly important for a company or organization to act quickly and manage the crisis. Do not let matters get out of control on Twitter, Facebook, Digg and everywhere else without an immediate response from your company to address the issue.

2. Have a team of social media specialists. Another important aspect is to have a crisis team that knows exactly how to jump into social media and strategize accordingly. These individuals should be able to take social media and use it to address an issue or problem effectively, in a proactive manner.

3. Keep a constant communication flow. In social media environments, the message is constantly changing. It is important to have a steady flow of information coming from your company. Social media is a great way to get your message through to large audiences, but communication must be consistent in order to be effective.

4. Be transparent. Transparency is very useful in gaining trust in social media. It allows an audience to connect with an organization In crisis communication most companies impose drastic barriers, and try to communicate as little as possible. But transparency and an honest message carry many more benefits for an organization, especially in times of crisis. It shows that the company is willing to be upfront with the audience, in an effort to reduce speculations and false information.

A very important aspect that organization leaders need to take into consideration is that social media should be seen as a place for conversation and dialog rather than a channel for directing messages.

Filed under: b2b marketing, Best Practices, Marketing Planning, Marketing Tactics, Relationship Marketing, Strategy, , , , , ,

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  • Keep your customers (happy) during recession June 18, 2009
    Recession has come as a strong incentive for companies to  understand more than ever the importance of customer loyalty and word-of-mouth, and to create strategies to ensure they come out of this downturn with good results, profit even. Especially in B2B, there are three main tools that you can use to make sure tyour companu […]
    Loredana Niculae
  • How can B2B companies approach viral marketing? June 4, 2009
    Can B2B marketing be fun and creative? The idea came to me to write about it because at newAD we are now talking to one of our clients, an IT company, to use viral campaigns as part of their marketing plan. With viral marketing, online campaigns get a life of their own, because, if the […]
    Loredana Niculae

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