Customer Marketing and Advocacy
Existing customers make up the bulk of your recurring revenue – up to 80%! Did you know it costs 6 to 7 times more to acquire a new customer than it does to upsell or retain an existing one? Think of all the opportunities waiting to be made.
There’s definitely not a one size fits all approach when it comes to customer marketing – each customer is in their own journey, even if they do go through similar paths. That’s why you need to segment your user base… like “hot trials” or “power users” or “inactive users”. Even if you have to automate your marketing content, it helps if the content is presented contextually based on their activities or usage. Help guide them to new features, ask them to be your beta testers, a case study or invite them for speaking opportunities.
The right customer marketing will help you win over happy customers, and these are your best marketing assets. Word-of-mouth promotion, peer referrals, recommendations…these have always been powerful at bringing in new customers. Harnessing their persuasive powers is key; identifying them is the hard part.