What keeps customers coming back? That’s a central question for any marketer, but it’s mission-critical to B2B organizations that typically have longer sales cycles and more invested in each lead. While data enhancement is an important tool for customer acquisition, it’s just as useful as a way to retain your customer base. If you’re using data enhancement to get to know new leads and prospects better without harnessing its power to deepen relationships with your buyers, you’re missing out on a vital piece of the customer retention puzzle.
Using the Right Data
You know how volatile your prospect database’s information is, but customer data is also susceptible to data decay. Your top priority is to put your customer files through a thorough data hygiene process that scrubs invalid information, merges duplicate records, archives older information, and updates contact data. Without current, complete, and accurate contact information, you lose valuable opportunities to stay in touch with your customers. If you wait for them to seek you to make a sale, you could be waiting in vain.
Data hygiene is only the first step of data enhancement, but it’s arguably the most essential. Working with a list management team that can help you cleanse, verify, and maintain your database will stand you in good stead for the next steps.
Keep Your Ear to the Ground
Marketing automation technology is outstanding at picking up buying signals from new prospects. It’s also able to detect those signals from your current customers, but only if you’re listening for them. While data append services keep records up to date and add relevant information to customer files, marketing automation uses those newly filled blanks to interpret signs of interest more accurately through lead scoring algorithms.
If, for example, you learn through marketing automation analytics that businesses in a particular ZIP code are likelier to buy in the fall, you’re able to cross-reference that knowledge with your customers’ current addresses to pick the most opportune time to approach them.
Up and Across
You’ve already invested a good deal of time and effort in making an initial sale, but your relationship with a customer doesn’t end there. Will your customer need to replenish or upgrade after making a purchase? Do you offer other products or services that complement what customers have already invested in? Does your customer plan on expanding, and what’s your role in their growth?
Up-selling and cross-selling are key revenue drivers for B2B businesses, especially as these efforts represent a small fraction of overall cost per lead. Data enhancement gives you a roadmap to your customers’ next buying journey so you can act as their guide.
Loyalty Is a Two-Way Street
Better customer knowledge leads directly to better customer care. With data enhancement, you’re able to offer loyalty programs that have lasting appeal to your customers. As you reward them for their continued business, they’ll also reward you with referrals, giving you new leads and potential customers to delight.
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