{"id":2485,"date":"2018-10-03T10:30:49","date_gmt":"2018-10-03T10:30:49","guid":{"rendered":"https:\/\/devbloglavaprotocols.nityo.in\/a-marketing-strategy-for-b2b-financial-companies-to-retain-customers\/"},"modified":"2018-10-03T10:30:49","modified_gmt":"2018-10-03T10:30:49","slug":"a-marketing-strategy-for-b2b-financial-companies-to-retain-customers","status":"publish","type":"post","link":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/a-marketing-strategy-for-b2b-financial-companies-to-retain-customers\/","title":{"rendered":"A Marketing Strategy for B2B Financial Companies to Retain Customers"},"content":{"rendered":"
<\/div>

By Daniel Newman, Product Marketing Manager, Salesforce\u00a0<\/strong><\/em><\/p>\n

<\/p>\n

If you\u2019re in the financial business, then you\u2019re in the relationship business.<\/p>\n

While it\u2019s true that\u00a0all\u00a0<\/i>business is based on relationships between brands and consumers, strong customer relationships<\/a> are especially important for financial brands to maintain. After all, managing money is a significant responsibility, requiring high levels of trust and personal investment from customers.<\/p>\n

This rings just as true for B2B financial companies as it does for B2C brands, if not more so, as the security and success of entire companies may depend on your effective management of their financial situations.<\/p>\n

In need of a customer relationship management tool? Read this<\/a>.\u00a0<\/strong><\/em><\/p>\n

It Takes Two<\/strong><\/h3>\n

Your customers want to feel that they are valued and that their needs are understood in all of their interactions with you \u2014 their financial service provider. There\u2019s a lot at stake if they don\u2019t feel that way.<\/p>\n

According to Salesforce\u2019s 4th annual State of Marketing<\/em> report<\/a>, 65% of business buyers are likely to switch brands if their vendor or service provider fails to personalise communications to their company.<\/p>\n

The good news is, there\u2019s a lot to gain from investing in strong customer relationships, as an engaged customer base can\u00a0significantly boost<\/a>\u00a0your business\u2019s revenue over time as your relationships continue to grow.<\/p>\n

It\u2019s clear that strong relationships are key to retaining customers. It\u2019s also clear that your brand\u2019s established customer base is of substantial value, and should be considered one of your organisation\u2019s greatest assets.<\/p>\n

For B2B financial companies, these buyers trust in the quality of the services you provide, and are likely to be interested in expanded product offerings based on their existing relationship with your brand.<\/p>\n

They feel valued by your brand, and they feel that your brand has generated value for them. Put simply, these established customers are sort of like your partners \u2014 and to begin making the most of this relationship, your brand can take steps to make sure its partners know they\u2019re each appreciated on an individual level.<\/p>\n

Let\u2019s Get Personal<\/strong><\/h3>\n

The road to stronger customer relationships (and, ultimately, an engaged and retained customer base) is paved with increasingly personalised customer experiences. While the customer experience<\/a> for B2B financial clients has always been relatively personal, technological advancements have unveiled new opportunities for adding personal touches to customers\u2019 interactions with your brand.<\/p>\n

In particular, automation of your brand\u2019s external messaging can streamline your marketing processes and give you access to analytics which you can use to generate relevant, personalised content for consumers.<\/p>\n

When customers sign up for new financial products, automation allows you to seamlessly start their new onboarding journey. When analytics show that customers have become less engaged, you can re-engage them through targeted education campaigns. And, when analytics indicate that customers already own your entry-level financial products, you can personalise marketing to them, highlighting expanded financial products from your suite.<\/p>\n

Seamless Customer Journeys<\/strong><\/h3>\n

Information about clients\u2019 engagement with your B2B financial company gathered by analytics software can give you hints about their organisation\u2019s financial services needs, which you can use to further individualise their customer experience.<\/p>\n

With marketing automation, your sales team could be equipped with knowledge of branded content customers have previously accessed, so conversations could start with\u00a0policies that clients have already shown interest in.<\/p>\n

For example, let\u2019s say a customer currently owns only one insurance policy from you. Your sales team would see all of that customer\u2019s interactions with your website and digital marketing content as they read about any of your other offered insurance policies. Instead of waiting for that customer\u2019s bi-annual account review, your sales team could proactively reach out, in real time, to see if the customer needed any help with these other insurance policies.<\/p>\n

Related<\/strong>:\u00a0What Would Insurance Companies Need Marketing Automation For?<\/a><\/p>\n

With personalised customer care powered by marketing automation, the value your B2B financial brand adds as the consumer\u2019s partner increases tremendously \u2014 as does your chance of earning their future business. Crafting seamless customer journeys is now easier than ever, letting you and your customers focus on what matters most: your company\u2019s successful management of their company\u2019s finances.<\/p>\n

Your Retention Strategy<\/strong><\/h3>\n

To implement your B2B financial brand\u2019s own\u00a0retention marketing\u00a0strategy, start by analysing the ways in which your brand interacts with its customers and identify major touchpoints where there may be room for automation of certain processes to create a more personalised client experience. Even something as simple as automating a happy birthday greeting to a valued customer can open up new conversations and free up your time to work on important client projects.<\/p>\n

Once you\u2019ve decided which customer interaction touchpoints to focus on, choose the personalisation tactics that would work best for your brand\u2019s unique clients, based on your team\u2019s knowledge of the established customer base you aim to retain.<\/p>\n

Better Together<\/strong><\/h3>\n

An account-based, retention-focused approach to marketing financial B2B brands is best for both sides of the business-customer relationship. It helps ensure that your clients are provided with the friendliest, most personal, and highest-quality service \u2014 which is, in turn, the greatest long-term revenue generation investment your company can make.<\/p>\n

Customer research\u00a0consistently shows\u00a0that increased personalisation drives customer loyalty and business revenue. Automation and analytics tools are valuable assets to B2B financial brand marketers seeking new ways to boost creating robustly customized experiences for their customers.<\/p>\n

To learn more about using technology to build meaningful customer relationships,\u00a0watch this video<\/a> on how Pardot by Salesforce can help you to automate marketing tasks and increase sales.\u00a0<\/strong><\/em><\/p>\n

Article<\/a> first appeared on the Salesforce Pardot blog.<\/span><\/p>\n

Lava is an <\/i>authorised Salesforce Partner <\/i><\/a>in Malaysia and has more than a decade of experience in cloud solutions which includes marketing automation, CRM implementation, change management, and consultation. We pride ourselves in not just being a CRM partner but in also understanding the needs of our customers and taking their business to the next level.<\/i><\/strong><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

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