Customer or buyer intent refers to the motivations that drive consumer behaviors—not simply what they want, but why they want it. The ability to discern the whys behind the whats is obviously important to marketers. The more they can understand the motivations of their customers, the better they will be able to produce the goods and services that best meet their needs and effectively communicate the right points to compel the desired action—a sale. (more…)
Posts Tagged ‘customer relationship management’
Customer Intent: Elusive, but Not Impossible to Obtain
Wednesday, September 27th, 2023Taking a Long View of B2B Customer Relationship Management
Tuesday, September 5th, 2017Customer relations is a crucial aspect of any business strategy. And for good reason. Amy Gallo of Harvard Business Review writes, “Depending on which study you believe, and what industry you’re in, acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one.” The importance of customer relations is especially true in the B2B context. Typically, B2B companies are working with a smaller pool of customers than B2C companies, and each customer, therefore, makes up a larger share of revenue.
McDonald’s doesn’t want to lose customers, but it’s a lot less painful for McDonald’s to lose a customer than for Boeing to lose one. Similarly, many businesses serve both consumers and businesses. Consider a rental car or hotel company. They obviously have many individual consumer customers, but they also serve large organizations, such as corporations with staff who travel regularly.
So how do you maintain those crucial strong relationships with B2B customers? Here are some tips. (more…)
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