Customer success has forced marketers to adapt the way they think about acquiring, nurturing and retaining customers. Marketing is no longer just about building a cool logo or being on social media. It is about long-term business growth and building loyal relationships with customers. Read below to find out more about why Customer Success is the new Marketing:
1.Being customer-centric brings in more revenue
For many managers, the bottom line is: what brings our company the most revenue? And in 2019 the answer is: being customer-centric! Renewals and up-selling revenue have the biggest potential. Did you know that companies which can drive a 2% increase in their customer retention rates can generate a 20% higher revenue? This is why building your marketing around your customer can bring about a lot of business growth.
Read our article on the topic “How to Increase Business Through Customer Feedback” to find out more!
2. Tailored marketing is more successful
Marketing managers can take advantage of all the data collected through customer surveys to tailor their marketing program. Thus, they can build closer relationships with their customers and increase loyalty. For example, marketers can adapt their campaigns based on feedback given by their customers. Customer success can also bring them insights into why certain campaigns or products are working and others not.
3. Customers become your company’s advocates
Once your customers turn into your company’s advocates, that is when the biggest opportunities for growth exist. Customers today trust word-of-mouth and reviews much more than they would a slogan or logo. In addition, loyal customers go beyond simply posting a star review. They write about you on social media or in blogs, where the true advocacy can take place.
4. Customer-centric marketing is a win-win for both customer and company
Think about it, when you invest in customer success both you and your customer benefit from it. Customers appreciate and support companies which care about them and value their opinion. Focusing on customer success instead of marketing means driving both value and revenue. In addition, a company which not only has a customer success department but a customer success mentality can go beyond worrying about single products or services and into continual growth.
In conclusion, the concept of a “customer-for-lifetime” is no longer a fairytale, but a real result from data-driven marketing with a strong focus on customer success.
Marketing is dead, long live Customer Success!