ABM Strategy

Create A Customer Experience That Powers Loyalty and Profits

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TLDR:

Great customer experience can be achieved with a simple calculation and with the help of ABM.

Creating a good customer experience is a pain point that many marketing executives have. Customer experience is the culmination of the customer’s attitudes about the quality of the product or service and how easy the purchasing process was. This is inclusive of the decision to purchase a similar product/service from the same business or to buy again.

Many companies fail at this.

Part of the reason why is due to businesses having a hard time making the customer stay happy after the acquisition. A potential explanation may lie in the fact that senior staff avoid addressing customer complaints and opinions for fear of what the public will think of them. If they did, their businesses would witness an uptick in growth, profit, and loyalty.

A key point of debate in an organization is trying to find out who the ideal customer is. Marketers can speed up the debate by looking at how long a business has been a customer and how much they bought. Plot this data on a chart for all customers—both active and inactive. 

All customers plotted in the upper right quadrant of the graph, regardless if active or inactive, are where marketers want to hone in on. Listen to these customers very attentively, because they’re the best ones on the graph. Too many businesses believe that the fastest way to grow is by continually acquiring new customers, Instead, what they should be doing is focusing on the ones they already have. This is because it costs more money to retain new customers than old ones.

ABM can help here. 

It’s a focused approach to sales and marketing in which it helps teams work together and target best-fit accounts in order to turn prospects to customers. A key thing about ABM is that it focuses on lifelong relationships. 

These are key to a profitable and loyalty-generating customer experience.

Another area ABM excels in is its ability to individually personalize. And it’s scalable so marketers can fulfill individual customers’ needs while being realistic about it. The idea is to meet the customer on their own terms with the content, data, and experience they prefer when, where, and how it’s wanted. 

Customer experience involves providing value through the whole buying process. This is why keeping customers happy for all stages of the buy is so important. 

Original article from Franchising.com on 26 March 2019. 

The ABM Journal

The ABM Journal was created because we got tired of sifting through all the noise about ABM and wanted to gather only the very best and useful Account-Based Marketing information in one place. In addition to our own research and insight, we aggregate executive level summaries, insights and takeaways—along with some of the top ebooks and other resources available.

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