How Blogging Can Boost B2b Customer Retention
Dec. 22, 2022
The global business environment today is dynamic and conducive. The ease of doing business has increased the competition inherent in the different domains of the business. To sustain and thrive in such a world, you need to have a solid customer base. One step in this direction is to have strategies tailored toward acquiring customers. Another step is to retain the customers acquired.
Customer retention is critical for ensuring an organization's growth as the acquisition is comparatively costlier. Customer acquisition costs have gone up by nearly 50% over the past 5 years. Hence, it is economical and efficient to focus on customer retention. It builds customer loyalty, saves costs on acquiring new customers, and ensures that the business can hit the minimum profit target. Meeting expectations is one of the key requirements here. You can use the Net Promoter Score or NPS surveys to measure the performance of your customer experience in India.
B2B CUSTOMER RETENTION
B2B, a type of business model that involves exchanging products, services, or information between businesses, also needs to focus on retaining customers. Due to the myriad of options and competitors available, you need to have proper marketing strategies to boost customer retention. Many big companies need B2B partners to make their business operations efficient. For example, Tata Motors holds B2B relations with many companies such as Mutual Technologies INC, GNA Udyog Limited, etc.
HOW CAN BLOGGING BOOST B2B CUSTOMER RETENTION?
Blogging is one of the most promising marketing strategies adopted by firms to help market their product or service.
Rolling out regular, highly technical content related to the industry concerned establishes your firm as a domain expert and establishes market credibility. This elevates your image in the eyes of existing customers, who will in turn trust you with your products better. This also works as a great reassurance tool about the services you offer. Several NPS solutions in India can help you in this process.
Having published valuable blog content comes in handy when businesses try to use other marketing strategies such as email marketing, Quora posts, etc. You can repurpose your blog content and tailor it according to the platform that you are looking at as a marketing venture. This signifies that you can build a trustable and popular brand by adopting the best CXM services in India across several platforms simultaneously, keeping you connected with your audience base, and hence boosting customer retention.
Blogging is a great way to put out customer reviews to back your brand in public. Different customer experiences and positive testimonials can help your existing customers maintain reliability in the company and hence remain long-term customers, which proves to be beneficial for your business. This testifies in the favour of the Pareto principle, which says that 80% of the profit comes from only 20% of the customers.
Sharing free resources regularly adds value to your customers’ lives. Consistency, dedication, and commitment towards maintaining a blog platform show how you view serving society tolfless, nonprofit-oriented act. Sushowntures can help create a trustworthy image among your customers. Your business will reap the benefits of having a famous brand image when launching a new product or repurposing existing products. Already-existing customer base can prove to be very helpful in your new ventures.
Customer retention must be one of the main goals of every business. Loyal and recurring customers are primary proof of a great brand image and growing business. They are significant contributors to your revenue and profit margins as well. According to Bain & Company, you can have a 25% to 95% increase in profit with a 5% increase in customer retention. Hence, companies striving to provide a great customer experience in India will experience growing profits if they adopt blogging into their strategies.