We’ve talked a lot about lead generation and lead conversion in this blog — which makes sense, seeing as lead gen is a big part of what we do. But there’s another important aspect of the marketing and sales cycle I’d like to touch on in this post: retention.
Successfully pulling leads through the sales funnel is great, but if too many of them churn you’ll be forever stuck in an uphill struggle. High churn rates mean more work in the long-term, since it’s easier to build on an already existing relationship than to keep pitching from scratch. So aside from bringing in and converting leads, you should be thinking equally as hard about how to retain your customers for the long-haul.
Although the internet (and these pages) is alight with talk of novel lead generation solutions like account-based marketing (ABM) and artificial intelligence, good, old-fashioned relationship-building is still key to success in this regard.
When it comes to building long-term business relationships, it really all boils down to trust. If your customers feel they can look to you to provide the solutions they need, they’ll keep coming back.
What this overlooked advantage of ABM means for your lead gen
Of course, every good relationship needs a lot of work. You don’t build trust merely by providing a one-off service or product, no matter how well it works. There needs to be a sense of confidence and familiarity between you and your customers, which requires a particularly personal approach to sales and marketing.
That’s not to say the aforementioned solutions can’t play a part. In fact, in many ways this is one of the more overlooked advantages of ABM.
Since ABM calls for a targeted focus on key influencers, it requires you to take a more customized approach to your marketing and sales pitches. You’ll need to talk directly to your leads’ specific needs and offer personalized solutions, as opposed to marketing from a “distance” via mass mailing or other scatter gun tactics.
If executed properly, ABM can therefore be used as an opportunity to present yourself as a trusted consultant, as opposed to just another vendor. Once you’ve demonstrated you understand a lead’s own very specific needs, they’re more likely to come back. And they’d be right to: if you’re collecting the intelligence you need for ABM, you should naturally get to know a great deal about your customers and their needs on a very detailed level.
For more account-based marketing advice like this, download our free ABM Guide For Modern Marketers ebook below:
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