This week in Orlando, Kim Hammond (from QTS) and I had the opportunity to present at the Loyalty 360 Engagement Expo. The audience was highly engaged as we talked about some of the common challenges organizations face Achieving Client Advocacy in the B2B World. The top five challenges discussed were:
1) Being focused on the wrong customers
2) Being focused on the wrong level within accounts
3) Disproportionate marketing spend
5) Profitable growth
As we shared there, building true advocacy comes from engaging your most important accounts at the decision-maker level in a meaningful way. Market leaders must consider the opportunity of shifting their marketing spend to 60% on retention and 40% on acquisition. In most organization, the reverse is the case. In addition, investing 35% at the decision-maker level of the most important accounts will provide marketing leaders the desired retention and profitable growth.
I was energized by Loyalty’s research that came out in 2012 for marketers. Their research shows the top two objectives for marketers in 2012 are, 1) customer retention, and 2) profitable revenue. This reinforces what the IBM CEO and Fournaise Marketing Group studies said, which basically came down to marketing leaders need to be focused on the business, not the brand. They need to focus on building the ROI if they want to earn a true seat at the C-suite table.
Cheers to a sustainable, predictable and profitable 2012 for all marketing leaders!